Best cheap car insurance in Greensboro for 2021

1
Walter Bibikow/Getty Images
Bankrate Logo

Why you can trust Bankrate

While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for . This content is powered by HomeInsurance.com (NPN: 8781838). For more information, please see our

The average cost of car insurance in Greensboro, North Carolina, is $434 per year for minimum coverage and $1,285 for full car insurance, which includes comprehensive and collision coverage. North Carolina’s affordable car insurance rates may be one of the reasons most drivers have a valid car insurance policy — only 7.4% of drivers are uninsured.

Although rates are relatively low, you may be able to save further on car insurance in Greensboro. Bankrate’s insurance editorial team put together an analysis of the best car insurance in Greensboro based on pricing, coverage options and customer ratings. Partnering with Quadrant Information Services, we collected up-to-date average quoted premiums from each company. The data can be used as a starting point to collect quotes from several carriers, compare what each has to offer and choose the best and most affordable coverage for your needs.

Best car insurance companies in Greensboro

Greensboro drivers have many options for car insurance, but the options may be overwhelming for some drivers. We collected and examined customer ratings, coverage options, carrier discount availability and average annual rates to narrow down four of the best car insurance companies in Greensboro.

Insurance company J.D. Power score (Southeast region) Average annual premium for minimum coverage Average annual premium for full coverage
Geico 843 / 1000 $260 $780
State Farm 859 / 1000 $318 $893
Erie 874 / 1000 $416 $1,144
Allstate 838 / 1000 $477 $1,486

Geico

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. Basic coverage is only $260 per year on average, which amounts to a little over $21 per month. And buying full coverage, which also pays for loss and repairs related to your car, is only $780 per year on average — far less than what some U.S. drivers pay for basic coverage.

Learn more: Geico Insurance review

State Farm

State Farm is the second-cheapest carrier in Greensboro and has a strong presence of local offices. Knowing you can stop by and visit your neighborhood State Farm agent could be invaluable if you are having trouble filing a claim or you need help deciding on the right amount of coverage. There are 25 agents in the area available to help. State Farm has a wide range of discounts that help lower your premiums, such as safe driver, good student and loyal customer discounts.

Even if you do not have a clean driving history, you may be able to earn a discount based on your present driving decisions when you sign up for the Drive Safe & Save program.

Learn more: State Farm Insurance review

Erie

Erie Insurance has the highest J.D. Power customer satisfaction ratings of the Greensboro car insurance companies on our list. One of the reasons for the positive reviews is likely the combination of its affordable price and what you get in a policy. An Erie full car insurance policy includes extras for free, such as medical coverage if your pet is injured in a crash, auto glass repair and locksmith services of up to $75 per visit if you get locked out of your car.

Learn more: Erie Insurance review

Allstate

Allstate is not the cheapest carrier on the list, but the number of unique coverages the company offers is worth noting. There are a dozen add-ons that could protect you financially in case you cause an accident. They include rideshare, classic car and sound system coverage. You can also buy supplemental car travel insurance if you plan on road tripping to Mexico, saving you the hassle of having to find a carrier when you arrive South of the Border. The additional coverage can be purchased for as long as you need, up to one year.

Learn more: Allstate Insurance review

Cheapest car insurance in Greensboro

Greensboro car insurance is cheaper on average than the state’s $1,325 per year. However, rates can vary substantially based on your driving record, level of coverage, ZIP code, vehicle and more. Bankrate collected quotes from the largest providers in the city based on market share to bring you the cheapest car insurance companies in Greensboro.

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $260 $780
State Farm $318 $893
Nationwide $354 $1,273
Erie $416 $1,144
Allstate $477 $1,486

Drivers in search of full coverage might consider getting quotes from Geico, State Farm, Nationwide, Erie and Allstate, which all have low rates for full car insurance. State Farm and Allstate both provide quality coverage at a low price. In addition, they offer more options and add-ons than average, such as gap and rideshare insurance.

Greensboro insurance requirements

All drivers in North Carolina must carry car insurance. If your coverage lapses, your insurance provider is required to notify the North Carolina DMV, which could lead to fines and a reinstatement fee. The state’s minimum requirements are “continuous coverage” of:

  • $30,000 in bodily injury liability for each person
  • $60,000 in bodily injury liability for each accident
  • $25,000 for property damage liability for each accident

Keep in mind that the state’s minimums are likely not enough to cover the full extent of an at-fault accident. Additionally, it leaves no financial protection for your vehicle. If you lease or own your vehicle, your lender will typically require you to carry full car insurance. It expands on the state’s liability coverage by adding protection for damages to your vehicle through comprehensive and collision insurance.

Car insurance discounts in Greensboro

To get the lowest rates, be sure to ask the carrier you choose for what kind of discounts they can apply to your policy. Some typical Greensboro car insurance discounts are:

  • Good student: Young drivers enrolled in high school or college with good grades could qualify for lower rates.
  • Safe driver: Drivers without tickets, accidents and claims often have access to savings for reduced car insurance premiums.
  • Vehicle equipment: Newer-model vehicles equipped with driver assistance technology, multiple airbags and collision warning systems could be cheaper to insure.
  • Defensive driver course: Passing a defensive driving course approved by your insurance company could lower your rates.

Safe driver discounts may have a large impact on your Greensboro rates and are offered by most providers. Drivers that are less likely to cause an accident reduce their insured risk, which may ultimately reflect in their premium.

Frequently asked questions

What is the best car insurance company in Greensboro, NC?

There are many reputable car insurance companies operating in Greensboro. Our findings, based on customer ratings and pricing, found four standout companies. However, each driver may find other insurers based on their criteria. Consider getting quotes from multiple providers and comparing rates and policy conditions to find the carrier that works best for you.

How much does car insurance in Greensboro cost?

The average cost of car insurance in Greensboro, North Carolina, is $434 per year for minimum coverage and $1,285 per year for full car insurance. Your rate may vary based on the carrier you choose, your driving record, age and ZIP code.

How much car insurance do I need in Greensboro?

The state of North Carolina requires all drivers to have liability insurance of $30,000 or more in bodily injury per person, at least $60,000 in bodily liability insurance per accident and $25,000 or more for property damage. If your policy lapses, your carrier is required to report it to the DMV.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 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 2019 Toyota Camry, 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.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com. She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.
Edited by
Insurance Editor