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Cheapest car insurance in North Carolina for 2024

According to Bankrate’s analysis, State Farm and Progressive may offer lower-than-average car insurance rates for North Carolina drivers.

Updated Feb 01, 2024
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The cheapest car insurance companies in North Carolina

Luckily for drivers looking for cheap car insurance in North Carolina, average insurance costs in the Tar Heel State are relatively low compared to the rest of the country at $1,702. This annual premium is 33 percent less than the national average of $2,545 per year. Minimum coverage in North Carolina averages $491 per year, 34 percent less than the national average of $741.

However, car insurance companies use more than a dozen rating factors to determine your premium. While North Carolina state law prohibits insurers from considering your gender when calculating rates, companies are allowed to use your insurance-based credit score, marital status and ZIP code, among many other factors. Still, based on premium data sourced from Quadrant Information Services, the companies below offer some of the cheapest rates in North Carolina across various segments of drivers.

Key takeaways

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Insurance Disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Cheapest car insurance in North Carolina for minimum coverage

If you’re shopping for the cheapest monthly payments, don’t forget that your car insurance policy must still meet North Carolina’s minimum coverage requirements. Minimum coverage is often called liability-only insurance. It’s proof of financial responsibility if you’re at fault in a car accident.

North Carolina requires drivers to have uninsured motorist coverage in addition to bodily injury liability and property damage liability. Uninsured motorist coverage protects you if you’re involved in an accident caused by a driver who doesn’t have any or enough auto insurance to pay for the damage you incur.

We’ve listed some of the best cheap car insurance companies in North Carolina for minimum coverage policies below. Our research shows that State Farm is the cheapest.

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for min coverage
$25
$300
- $176
$33
$393
- $98
$33
$397
- $94
$42
$504
+ $14
$43
$519
+ $28

Minimum coverage requirements for North Carolina drivers

Like most states, North Carolina has minimum coverage car insurance requirements. To drive legally in the state, you must carry at least the following coverage types and limits:

  • $30,000 bodily injury liability per person
  • $60,000 bodily injury liability per accident
  • $25,000 property damage liability per accident
  • $30,000 uninsured motorist bodily injury liability per person
  • $60,000 uninsured motorist bodily injury liability per accident
  • $25,000 uninsured motorist property damage liability per accident
  • $30,000 underinsured motorist bodily injury liability per person
  • $60,000 underinsured motorist bodily injury liability per accident

However, most insurance professionals recommend that you purchase higher limits if you can afford it. Minimum coverage limits are quite low and may not provide adequate protection in the event of an at-fault accident. Additionally, if you have a loan or lease on your vehicle, you likely need to have full coverage to satisfy your financial institution’s requirements.

Cheapest car insurance in North Carolina for full coverage

Comprehensive and collision coverage are often referred to as full coverage. These types of insurance exceed North Carolina’s minimum car insurance requirements. While a full coverage policy does cost considerably more, it gives you extensive financial protection in the event of an accident you cause, vehicle theft, destructive weather and more. State Farm is typically the best cheap auto insurance in North Carolina for full coverage.

Insurance Company Average monthly premium Average annual premium Savings vs state avg. for min coverage
$80
$958
- $725
$87
$1,041
- $661
$109
$1,305
- $397
$143
$1,718
+ $27
$147
$1,761
+ $59

Cheapest car insurance in North Carolina for drivers with prior incidents

Your personal driving history has a big impact on your car insurance rates. Drivers with prior incidents like speeding tickets, high-risk accidents or DUI convictions face significantly higher insurance costs. Bankrate found a few insurance providers that typically offer affordable policies to drivers with prior incidents. State Farm and National General both provide lower premiums.

Cheapest insurance companies for drivers in North Carolina with a speeding ticket: State Farm

Among the many factors that can impact your premium, your driving record could be one of the most significant. However, the type of conviction or incident you have will affect your policy differently. Additionally, some companies rate activity more favorably than others. If you have a less-than-perfect driving record, you might find it even more important to shop around.

We’ve included some cheap North Carolina car insurance companies for those with a single speeding ticket on their record in the table below:

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$438
$1,414
$559
$1,495
$593
$1,973
$754
$2,609
Penn National
$757
$2,684

Cheapest car insurance for drivers in North Carolina with an at-fault accident: State Farm

Based on our premium data, your rates after a single at-fault accident in North Carolina might be cheaper than after a single speeding ticket, which is quite surprising. However, the accident's severity and other details could likely cause these projected rates to vary. Even so, if you need cheap auto insurance in North Carolina after an at-fault accident, you might want to check out the following companies:

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$403
$1,293
$514
$1,370
$543
$1,805
Penn National
$695
$2,457
$723
$2,541

Cheapest car insurance in North Carolina for high-risk drivers: State Farm

A company might deem you a high-risk driver after being convicted of a serious infraction such as reckless driving, leaving the scene of an accident or DUI. DUI may be among the most severe of these infractions, leading to much higher-than-average rates. Not all insurance companies will offer a policy to someone with a DUI (and eligibility may also depend on how much over the legal limit you were). Still, we found that the companies below offered the cheapest rates for those with a DUI conviction:

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,083
$3,618
$1,416
$3,845
$1,526
$5,143
$1,893
$6,604
Penn National
$1,933
$6,975
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Bankrate’s take: Keep in mind that not every car insurance provider in North Carolina offers coverage to drivers with DUI convictions. This is because drivers who have a DUI pose a larger financial risk to an insurance company since they’re more likely to file expensive claims. To find affordable coverage, shop for a provider who specializes in high-risk policies.

Cheapest car insurance for young drivers in North Carolina

Insurers also take a driver’s age into consideration when setting insurance rates. Car insurance for young drivers tends to be expensive in most states, and North Carolina is no exception. Rates tend to drop every year, with the youngest drivers paying the most because they’re the riskiest to insure. Young drivers might also have prior incidents that can further drive up their rates.

Cheapest North Carolina car insurance for insuring a teen driver: State Farm

Insuring a teen driver comes with challenges, including learning how to save on car insurance. Teens pay some of the highest insurance premiums due to their inexperience and risk-taking behind the wheel. However, our rate data show that the companies below may offer the most competitive premiums if you have a 16-year-old driver listed on your policy, especially when taking teen discounts and student discounts into consideration.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$849
$2,301
$1,037
$2,302
$1,200
$4,162
$1,276
$3,568
$1,362
$4,360
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Bankrate’s take: It might seem unfair to target teens with higher insurance rates. However, statistically speaking, teens are one of the most at-risk age groups on the road. Teens make up just 4 percent of all drivers, but 16- and 17-year-olds have a fatal crash rate per mile that’s three times as high as drivers ages 20 and older.

Cheapest North Carolina car insurance for teens with a ticket: State Farm

According to the Centers for Disease Control, teenagers are the age group that’s most likely to speed. Insurance providers know this, too, and they’ll charge teens top dollar for insurance policies. We found that State Farm offers teens the lowest rates around for teenagers who have a ticket.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$872
$2,679
$1,020
$2,534
$1,131
$3,405
$1,212
$4,690
$1,387
$4,512

Cheapest North Carolina car insurance for teens with an at-fault accident: State Farm

If you’re a teen with an at-fault accident in North Carolina, it’s important to compare car insurance rates since you’re classified as a high-risk driver. According to our research, State Farm offers some of the most competitive rates for teens who have had an at-fault accident.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$833
$2,543
$975
$2,411
$1,079
$3,235
$1,363
$4,501
Penn National
$1,399
$4,667
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Bankrate’s take: North Carolina is an at-fault or tort state, which means that the driver responsible for the car accident must pay for property damage and medical expenses. Remember that all North Carolina drivers are required to meet minimum insurance coverage requirements. If the damage exceeds the at-fault driver’s coverage limits, they must pay out of pocket.

Cheapest North Carolina car insurance for young drivers with a DUI: Progressive

Our analysis shows that young drivers with a DUI can save the most with Progressive. However, compare quotes from multiple companies, so you know you’re getting the best available offer.

Insurance Company Avg. annual min coverage premium Avg. annual full coverage premium
$1,421
$3,845
$1,764
$6,038
$1,945
$6,751
$2,040
$6,916
Penn National
$2,102
$7,572

Cheapest car insurance rates by city in North Carolina

Where you live within a state can impact how much you spend on car insurance. For instance, those who live in bigger cities generally pay more expensive premiums because a higher population density leads to more car accidents in your area. Additionally, your vehicle might be more likely to be stolen or vandalized in a big city versus a small rural town. Below, we’ve listed the cities where you might find the most considerable North Carolina car insurance savings:

Cheapest cities in North Carolina for car insurance

Bakersville
City average annual min coverage premium
$385
Cheapest car insurance carrier
State Farm
Company average annual premium
$188
Burnsville
City average annual min coverage premium
$385
Cheapest car insurance carrier
State Farm
Company average annual premium
$184
Creston
City average annual min coverage premium
$386
Cheapest car insurance carrier
State Farm
Company average annual premium
$192
Grassy Creek
City average annual min coverage premium
$385
Cheapest car insurance carrier
State Farm
Company average annual premium
$188
Elk Park
City average annual min coverage premium
$386
Cheapest car insurance carrier
State Farm
Company average annual premium
$190

Cheapest car insurance in larger cities in North Carolina

Winston Salem
City average annual min coverage premium
$470
Cheapest car insurance carrier
State Farm
Company average annual premium
$311
Durham
City average annual min coverage premium
$508
Cheapest car insurance carrier
State Farm
Company average annual premium
$340
Greensboro
City average annual min coverage premium
$509
Cheapest car insurance carrier
State Farm
Company average annual premium
$328
Raleigh
City average annual min coverage premium
$523
Cheapest car insurance carrier
State Farm
Company average annual premium
$335
Charlotte
City average annual min coverage premium
$564
Cheapest car insurance carrier
State Farm
Company average annual premium
$405

Car insurance discounts in North Carolina

Finding cheap North Carolina car insurance could boil down to finding the company that offers the most discounts. When you’re shopping, you may want to inquire about some of the more common discounts below:

  • Young driver discounts: Insurance providers are aware that it costs significantly more to insure a young driver, so they often offer discounts that young drivers might qualify for. For instance, young drivers might be eligible for a good student discount, driver’s education discount or distant student discount.
  • Safe driver discounts: Many carriers offer safe driving discounts for drivers who participate in their safe driving program or go a certain period of time without filing a claim.
  • Vehicle safety discounts: Your provider might reward you with a discount if your vehicle has certain safety features like automatic seatbelts, full-front airbags, anti-lock brakes, adaptive headlights or anti-theft features.
  • Bundling discount: If you get homeowners or renters insurance from the same provider, you might be able to bundle policies and earn substantial savings.

Frequently asked questions

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46
years of industry expertise
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122
carriers reviewed
Location
20.7K
ZIP codes examined
Dollar Coin
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quotes analyzed

Methodology

Bankrate utilizes Quadrant Information Services to analyze the latest rates in February, 2024 for ZIP codes and carriers in all 50 states and Washington, D.C. Rates include the most recent approved rate increases filed by insurance companies and are weighted based on the population density in each geographic region so that policyholders can see the impact rates have in their areas. 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 coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.

Teens: Rates were determined by adding a 16-year-old teen to a 40-year-old married parent’s policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy. 

Age: Rates were calculated by evaluating our base profile with the ages 18 and 21 applied. Drivers are renters on their own policy. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

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