The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
In Greensboro, North Carolina, the average cost of minimum coverage car insurance is $449 per year, while full coverage is $1,392 per year, or $16 per month. Drivers searching for the best cheap car insurance Greensboro has to offer may want to consider getting quotes from Geico, State Farm or North Carolina Farm Bureau. These three carriers offer some of the cheapest average car insurance rates in Greensboro, based on Bankrate research.
Best cheap car insurance companies in Greensboro
Geico, State Farm and North Carolina Farm Bureau offer some of the best cheap car insurance Greensboro drivers might want to consider, according to data provided by Quadrant Information Services. If you’re looking for minimum coverage, some of the cheapest carriers include Nationwide, State Farm and Geico. Quoted annual premiums, along with third-party rankings, financial strength ratings, coverage types, discounts and availability are among the factors used to determine the Bankrate Score. This five-point scaling system developed by Bankrate may help you quickly assess a company and compare carriers when shopping for car insurance.
|Insurance company||Bankrate Score||J.D. Power score (Southeast region)||Average annual premium for full coverage||Average annual premium for minimum coverage|
|North Carolina Farm Bureau||3.6||844/1,000||$1,071||$356|
Geico often makes the “best of” list for its combination of low rates and high customer ratings. Greensboro drivers will find that the average premiums from Geico are significantly lower than the city average, though optional add-on coverages are limited with this carrier. Policyholders may save even more on their premium with potential discounts for members of partnered companies and organizations, including members of the military. However, Geico has the lowest J.D. Power score on our list, indicating that some customers may not be satisfied with the service.
Learn more: Geico Insurance review
State Farm sells policies through a network of independent agents, so it could be a good choice for drivers who want to work in-person with a local agent. The carrier has 23 agents in the Greensboro area. State Farm has a high J.D. Power score for customer satisfaction and holds the highest possible financial strength rating from AM Best. Although State Farm performs above average in the Southeast region, it has few optional coverages and discounts, which might not prove to be the right fit for all driver’s needs.
Learn more: State Farm Insurance review
North Carolina Farm Bureau
The North Carolina Farm Bureau rounds out the top three for cheapest car insurance agencies in Greensboro, but you have to be a Farm Bureau member to take advantage of its rates. The carrier offers basic coverage for auto insurance, but excels in farm-based insurance products. Although North Carolina Farm Bureau may have affordable rates, it performs a few points below the industry average in the Southeast region for customer satisfaction and has the lowest Bankrate Score on our Greensboro list.
Drivers in Greensboro, North Carolina may also consider Nationwide car insurance. This carrier has some of the cheapest rates for minimum coverage in the area, but it has one of the most expensive rates for full coverage on our list. To keep car insurance costs low, Nationwide offers several ways to save, including its SmartRide and SmartMiles programs. For drivers looking for policy customization, Nationwide offers accident forgiveness and vanishing deductible options, depending on location. It also received an above-average J.D. Power rating in the Southeast region.
Learn more: Nationwide Insurance review
Erie Insurance has the highest J.D. Power customer satisfaction rating of the Greensboro car insurance companies on our list, earning third place in the Southeast region. A full coverage car insurance policy from Erie includes free extras for free such as veterinary coverage if your pet is injured in a crash, auto glass repair and locksmith services if you get locked out of your car. However, those extras still come at a price, with Erie listed as the most expensive carrier on our list. Fortunately, the company’s Rate Lock feature could help keep your rates steady over time.
Learn more: Erie Insurance review
How to get and keep the cheapest car insurance in Greensboro
Getting the cheapest car insurance in Greensboro is one thing, keeping it is another. By following these tips, you may be able to maintain cheap rates. These tips may also be helpful in other states, too.
- To get cheap car insurance, consider comparing quotes from multiple auto insurance carriers. Comparing quotes with the same coverage options may help you identify the cheapest carrier for your coverage needs. If you’re unsure the type and level of coverage you need, speaking with an independent agent may help you narrow down your search and get quotes.
- To keep cheap car insurance, maintain a clean driving record. One of the easiest ways to keep your car insurance rates low may be to maintain a clean driving record. This could help you avoid rate hikes. Plus, avoiding tickets and at-fault accidents may also make you eligible for safe driving discounts or telematics programs.
Frequently asked questions
There are many reputable car insurance companies operating in North Carolina. Our findings, based on customer ratings and pricing, found that USAA, Geico, Clearcover and State Farm offer some of the best car insurance in the city. However, each driver may have different priorities and budget constraints when it comes to auto insurance. Most insurance experts recommend getting quotes from multiple providers to find the carrier that works best for you.
The average cost of car insurance in Greensboro, North Carolina, is $449 per year for minimum coverage and $1,392 per year for full car insurance. Your rate may vary based on factors like the carrier you choose, your driving record, age and ZIP code.
The state of North Carolina requires all drivers to meet minimum liability insurance requirements to drive legally. This includes at least $30,000 in bodily injury per person, at least $60,000 in bodily injury per accident and at least $25,000 for property damage. If your policy lapses, your carrier is required to report it to the DMV.
In North Carolina, car insurance follows the car. So, if you allow someone to borrow your car and they get into an accident, your car insurance would cover the accident, not the person who borrows your car. Consider the repercussions you could face if you allow someone else to drive your car, as your policy could be negatively impacted if they cause an accident.
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. 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 2020 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.
Bankrate Scores are calculated on a five-point scale and primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.
To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.
While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.