Best cheap car insurance in Greensboro

Drivers living in the Greensboro, NC region pay an average rate of $1,686 for full coverage annually, while minimum insurance costs an average of $507 a year. That works out to $42 a month for minimum and $141 a month for full coverage. That’s less than the national averages, which are $2,545 and $741 a year, respectively. If you’re looking for the best car insurance in Greensboro with affordable rates, Bankrate has you covered. Our research indicated that companies including Geico, State Farm, Erie, Nationwide and Progressive may be good options for the cheapest rates.

Best cheap car insurance companies in Greensboro

Using data sourced from Quadrant Information Services, Bankrate determined that the best cheap car insurance in Greensboro can be found at companies including State Farm, Erie and Progressive, with Geico and Nationwide just behind them.

We also went beyond average rates to look deeper at each provider, analyzing additional metrics such as coverage options, potential discounts, mobile accessibility and third-party scores such as the J.D. Power Auto Insurance Study for customer satisfaction. We used these metrics, combined with average rates, to assign each insurer a Bankrate Score out of a possible five points. These scores may help you quickly assess each company and compare carriers as you search for a policy.

State Farm

State Farm’s rates make it one of the cheapest car insurance companies in Greensboro — its average rates for drivers in the city were the lowest of any carrier on our list. State Farm sells policies through a network of exclusive local agents, so it could be a good choice for drivers who want to work with someone who lives and works in their area. State Farm also has a high J.D. Power score for customer satisfaction and holds the highest possible financial strength rating from AM Best. It does not, however, offer 24/7 customer service, nor does it offer gap insurance, so if you’re a driver who just financed a new car, State Farm may not be the best option for you.

Learn more: State Farm Insurance review

Progressive

Another option that drivers looking for the cheapest car insurance in Greensboro may want to consider is Progressive. The company’s average rates for Greensboro drivers are below the regional averages, and a generous handful of discounts may bring your rate down even below the average. It features robust digital tools and an informative website, so it’s easy to manage your account online if you prefer to do so. The company also generally has affordable rates for those who fall into the high-risk driver category. Progressive’s rating for customer satisfaction with J.D. Power is slightly below average, so you may want to give it a miss if superior customer service is your top priority.

Learn more: Progressive Insurance review

Erie

Erie Insurance earned the highest J.D. Power customer satisfaction rating of the insurance companies in Greensboro on our list, coming in at second place in the Southeast region. A full coverage car insurance policy from Erie includes some unique perks, 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 third-most expensive carrier on our list based on average full coverage rates. Fortunately, the company’s Rate Lock feature could help keep your rates steady over time as long as you don’t make major changes to your policy. The company does have limited mobile app capabilities, though, and no telematics program, so if either of those capabilities are important to you, you may want to consider another carrier.

Learn more: Erie Insurance review

Geico

Geico often makes ‘best’ lists, largely due to its low average rates and extensive discount list, and it’s made our list, too. Greensboro drivers will find that Geico’s average premium for full coverage is slightly under the city average are significantly lower than the city average, and policyholders might save even more 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 in the region may not be satisfied with the service, although it does score above average for the organization’s Claims Satisfaction Study, so the company does have some positive indicators for customer experience. It does not offer a lot of additional coverage options, though, so if you’re looking for a highly customized policy, it might not be the best choice for you.

Learn more: Geico Insurance review

Nationwide

Drivers in Greensboro, North Carolina might also want to consider Nationwide car insurance. The company’s rates are on the high side, however, compared to others on our list of chosen carriers. To keep car insurance costs low, Nationwide offers several ways to save, though, including its SmartRide and SmartMiles programs, programs which allow drivers who drive safely or drive fewer miles the chance to save. For drivers looking for policy customization, Nationwide offers accident forgiveness and vanishing deductible options, depending on location. It did receive a below-average J.D. Power score both on its Auto Insurance Study and Claims Satisfaction Study, so it may not be the best option for someone who highly values customer service.

Learn more: Nationwide Insurance review

How to get and keep the cheapest car insurance in Greensboro

Getting the cheapest car insurance in Greensboro is one thing, but keeping it is another. Following these tips might help you find and maintain the cheapest rates for your situation.

• Look for discount opportunities. Many insurers offer a variety of discounts that you might be able to use to reduce the cost of coverage, depending on whether you qualify. For example, bundling auto and home insurance, paying your premium upfront or taking a driving safety course could all help you land a discount.
• Maintain a clean driving record. If your driving skills are not top-notch, consider taking a defensive driving course, which might net you a discount with some insurers. You could also consider signing up for telematics programs that allow your insurer to monitor your driving in real time if you’re confident in your safe driving. Keeping infractions off your record is one of the best ways to earn low-cost car insurance in Greensboro.
• Shop around each year. Insurers might raise your rates when your policy is ready to renew, whether it’s due to rate filing increases in your state or because of circumstances that have changed for you, such as your location or driving record. If you take the time to shop around and compare quotes when it comes time to renew, rather than sticking with the same company, you might be able to find a better deal and get a cheaper policy.

Frequently asked questions

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

    When you are looking for the best car insurance companies in Greensboro, it’s a good idea to consider your priorities first, since no single company is going to be the best option for everyone, all the time. If superb customer service is your top priority, for example, you may want to look at companies that rank high on the J.D. Power Customer Satisfaction Index. On the other hand, if you are retired or work from home, you may want to get car insurance quotes in Greensboro from companies that offer low-mileage insurance. If you have a teen driver in the house, it can help to consider cheap car insurance companies with a reputation for low rates for teens.

  • How much does car insurance in Greensboro cost?

    The average cost of car insurance in Greensboro is $1,686 for full insurance, which includes optional collision and comprehensive coverage, and $507 for state-mandated minimum insurance, which only includes liability and uninsured motorist insurance. For comparison’s sake, the average cost for North Carolina as a whole is $491 for minimum and $1,702 for full coverage. Your own rates are likely to differ from the averages, since they are based on a range of factors including your driving record, claims history and ZIP code, as well as the age, make and model of your car.

  • How much car insurance do I need in Greensboro?

    Like almost all states in the U.S., North Carolina has minimum requirements for car insurance in order for drivers to be on public roads legally. The state mandates that drivers have at least this much coverage: 

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

    The state also requires drivers to carry the same amount of coverage in uninsured/underinsured motorist insurance.

  • Does car insurance follow the car or the driver in North Carolina?

    Car insurance almost always 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 car insurance of the person who borrows your car. If you are someone who does not own a vehicle but frequently uses someone else’s you could consider non-owner car insurance.

• • Methodology

    Bankrate utilizes Quadrant Information Services to analyze 2024 rates for 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 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.

  • Bankrate Score

    Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

    • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
    • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
    • Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.