Best cheap car insurance in Charlotte


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Charlotte has more car accidents than any other city in North Carolina. In 2019, there were 135,052 crashes reported in the city. Drivers in Charlotte are required to carry car insurance to protect their liabilities if they cause an accident.

The average driver pays $1,449 for full coverage car insurance and $520 for minimum coverage car insurance in Charlotte. We identified the best cheap car insurance in Charlotte based on average premium, customer satisfaction, coverage options and discounts.

Best car insurance companies in Charlotte

The table below includes the best cheap car insurance in Charlotte. These five companies have below-average premiums, comprehensive coverage options, generous discounts and impressive third-party customer satisfaction ratings.

Insurance company J.D. Power customer satisfaction score Average annual premium for minimum coverage Average annual premium for full coverage
Geico 857 / 1000 $286 $810
Progressive 835 / 1000 $641 $1,765
NC Farm Bureau 854 / 1000 $431 $1,177
Erie 871 / 1000 $469 $1,233
Travelers 823 / 1000 $528 $1,422


Geico is the cheapest car insurance carrier in Charlotte, with an average full coverage premium of $810 and an average minimum coverage premium of $286. Geico’s coverage is basic, and there are few options for customization. However, the company offers a wide variety of discounts that many drivers can take advantage of, including savings for military personnel and federal employees.


Progressive is one of the top insurance companies in Charlotte. Its average full coverage and minimum coverage premiums are above average, but drivers get access to robust coverage options and generous discounts like the Snapshot safe driver program. Progressive also offers a variety of online tools, like the Name Your Price Tool, which makes it easy for drivers to compare rates and find a policy that fits their budget.

North Carolina Farm Bureau

North Carolina Farm Bureau is a popular insurance company for drivers in Charlotte. Farm Bureau Insurance is known for having exceptional customer service, in addition to affordable policies with good coverage. In order to get car insurance through Farm Bureau, Charlotte drivers must purchase a Farm Bureau membership for $25 per year, but it comes with savings for products, hotels, attractions and more.


Erie Insurance offers cheap policies for drivers in Charlotte, with an average full coverage premium of $1,233 and an average minimum coverage premium of $469. With Erie, drivers can access unique coverages, like new and better car replacement coverage, first accident forgiveness and pet coverage. Erie also has a rate lock guarantee and disappearing deductible program, in addition to traditional discounts.


Travelers is a great car insurance company for any driver in Charlotte who is looking for a combination of affordable policies, good coverage and generous discounts. Travelers offers coverage like new car replacement coverage, rideshare insurance and accident forgiveness. It also offers hard-to-find discounts, like special savings for hybrid/electric vehicle owners, as well as a safe driver discount program called IntelliDrive.

Cheapest car insurance in Charlotte

Car insurance in Charlotte is slightly more expensive than the average rate in North Carolina. The average driver in North Carolina will spend $1,308 for full coverage insurance and $396 for minimum coverage insurance. The table below includes the cheapest car insurance rates from the most popular carriers in Charlotte based on market share:

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $286 $810
State Farm $440 $1,091
Erie $469 $1,233
Nationwide $475 $1,459
Travelers $528 $1,422

Every car insurance company has its strengths and weaknesses. For example, Geico and State Farm offer the cheapest premiums in Charlotte, but the coverage is extremely limited. On the other hand, Erie and Travelers offer more robust coverages with multiple add-on policies, but the average premiums are more expensive.

In terms of customer satisfaction, these companies differ dramatically. Erie and Geico are rated above average in J.D. Power’s 2020 U.S. Auto Insurance Study for the Southeast region, whereas State Farm, Nationwide and Travelers are all rated below average. All five companies have good financial strength scores, with ratings of A+ or better from AM Best.

Charlotte insurance requirements

In Charlotte, car insurance is legally required. North Carolina law says that every driver with a vehicle that is registered in the state must carry at least 30/60/25 personal liability insurance, which includes the following:

  • $30,000 in bodily injury liability coverage per person
  • $60,000 in bodily injury liability coverage per accident
  • $25,000 in property damage liability coverage per accident

Drivers in Charlotte who purchase minimum coverage insurance will likely pay the lowest rate. However, it is recommended that most drivers purchase coverage beyond the minimum amount. Car accidents can be expensive, and there is no guarantee that liability-only coverage in North Carolina will be enough to cover a driver’s full financial responsibility.

Additionally, some drivers are required to carry full coverage insurance. Drivers who have a financed or leased car are typically required by their lender to carry full coverage insurance until their loan is paid off in full.

Car insurance discounts in Charlotte

Drivers in Charlotte can lower their insurance premiums by taking advantage of car insurance discounts. Here are some of the biggest savings opportunities that drivers should consider:

  • Pay in full: Many insurance companies offer a discount for drivers who can afford to pay their annual insurance premium upfront and in full, rather than in monthly installments.
  • Driver training course: Drivers who complete an approved driver training or defensive driving course typically qualify for a lower premium.
  • Claims-free: Good drivers who have no accidents or claims on their record can usually get a cheaper car insurance premium.
  • Smart student: Students who get good grades or maintain a certain GPA are often eligible for smart student insurance discounts.

Frequently asked questions

What is the best car insurance company?

There are hundreds of car insurance companies on the market and some of the best providers are State Farm, USAA, Geico, The Hartford, Erie and Amica. However, every company has its upsides and downsides. Drivers should shop around and compare providers based on their personal criteria to find the best car insurance in Charlotte.

How much does car insurance in Charlotte cost?

In Charlotte, the average driver pays $1,449 for full coverage car insurance and $520 for minimum coverage car insurance. However, every driver pays a different rate based on factors like their age, credit score, claims history, the type of car they drive, the amount of coverage they need and the chosen deductible.

How much car insurance do I need in Charlotte?

Drivers in Charlotte must carry at least 30/60/25 personal liability insurance. However, many drivers purchase more coverage than what is required. Full coverage car insurance offers more protection, including collision and comprehensive insurance, which covers the vehicle itself.


Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our sample drivers own a 2018 Honda Accord, commute five days a week and drive 12,000 miles annually.

These are sample rates and should be used for comparative purposes only. Your quotes may be different.