Best cheap car insurance in High Point for 2021

1
bouillabaisse/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

In 2020, there were 8,878 car accidents in High Point, North Carolina. To protect your financial responsibilities in the event of a crash, car insurance is legally required. The average annual cost of car insurance in High Point is $434 for minimum coverage and $1,271 for full coverage. We highlighted our choices for the best car insurance in High Point based on average rates provided by Quadrant Information Services, discounts and J.D. Power ratings.

Best car insurance companies in High Point

Drivers who want the best car insurance in High Point should consider Erie, State Farm, Geico and Allstate. These four providers are some of the best car insurance companies in North Carolina. Plus, they have affordable rates, great discounts, good coverage options and strong financial stability ratings.

Insurance company J.D. Power score Average annual premium for minimum coverage Average annual premium for full coverage
Geico 843/1,000 $261 $770
State Farm 859/1,000 $300 $857
Erie 874/1,000 $408 $1,117
Allstate 838/1,000 $476 $1,445

Geico

Based on our sample quotes, Geico offers some of the cheapest car insurance in High Point. For most drivers, the premiums are well below the citywide average and the company offers an impressive list of discounts for additional savings. Some of the discounts available through Geico include savings for military personnel, going on emergency deployment, federal employees, good students, employer/membership groups and many others.

State Farm

State Farm holds more than 16% of the total market share, making it the largest car insurance company in the country. State Farm is a great option for High Point drivers who want to take advantage of discounts to get a lower rate. In addition, State Farm offers a safe driver rewards programs for – Drive Safe & Save – for drivers over 25. Of all the providers we reviewed, State Farm also has one of the best multi-policy discounts.

Erie

Erie is consistently rated highly by J.D. Power for overall customer satisfaction. The company is known for its low rates, great discounts and comprehensive coverage. With every car insurance policy, drivers get the opportunity to add accident forgiveness, a disappearing deductible, new car replacement coverage, pet injury coverage, a rate lock guarantee and other perks. Erie also offers a handful of standard discounts.

Allstate

Allstate’s insurance rates in High Point are above average, but there are plenty of discounts to help you get a lower rate. Allstate offers potential savings for insuring a new car, enrolling in AutoPay, being a responsible payer, being a smart student and several others. Allstate also offers a few endorsements for customized coverage, including new car replacement, accident forgiveness, custom equipment coverage and roadside assistance.

Cheapest car insurance in High Point

High Point drivers pay less annually for full coverage insurance than the average North Carolina driver, but they pay more for minimum coverage. For comparison, the average cost of car insurance in North Carolina is $1,325 per year for a full coverage policy.

If you are shopping for car insurance, it can be helpful to see the average rates for various providers. However, keep in mind that car insurance rates are personalized. For comparison purposes, we included a table of the average cheapest car insurance rates in High Point from the most popular carriers based on market share:

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $261 $770
State Farm $300 $857
Nationwide $357 $1,274
Erie $408 $1,117
Allstate $476 $1,445

The cheapest car insurance companies in North Carolina offer the lowest rates, but they each have pros and cons. Even if you are shopping for insurance on a tight budget, it is important to look at additional factors other than price.

If you want to customize your policy with endorsements, look into Erie, Allstate or Nationwide. Geico and State Farm have limited coverage options. If you are looking for discounts, all five providers offer generous potential savings. However, the actual discounts available will vary, so you will need to compare providers to see which ones you qualify for.

In terms of third-party ratings, these providers are all over the map. In J.D. Power’s most recent auto insurance study, State Farm and Erie were the only companies rated above average in the Southeast region. Geico, Allstate and Nationwide were rated below average, which means the customer experience may not be as good.

High Point insurance requirements

Car insurance is a legal requirement in High Point. Drivers must carry at least 30/60/25 personal liability insurance, as well as uninsured and underinsured motorist coverage, which includes the following coverages:

  • $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

A bond, $85,000 deposit with the state treasurer or a certificate of self insurance (only if more than 25 cars registered) can also satisfy the financial responsibility law.

Drivers in High Point can legally drive with a minimum coverage policy. However, there is no guarantee that minimum coverage insurance will cover your full financial responsibility in the event of an accident. In addition, drivers who have an auto loan or lease are often required by their lenders to carry a full coverage policy, which includes collision and comprehensive coverage.

Car insurance discounts in High Point

You can find car insurance discounts from most car insurance companies in High Point. However, keep in mind that every provider offers unique savings. Here are some of the discounts you can get in High Point:

  • Pay in full discount: If you pay your annual premium upfront and in one lump sum, you may qualify for a small discount on your premium.
  • Good student discount: Students in high school and college who maintain a minimum GPA (usually ‘B’ or above) may be able to qualify for a discount.
  • Claim-free discount: If you have no recent claims or accidents on your record, it may be possible for you to get a discount on your premium.
  • AutoPay discount: Drivers who enroll in automatic payments may find themselves receiving a small discount on their insurance premium.

One thing to know about car insurance discounts is that they each come with a different savings potential. In addition to these discounts, drivers in High Point may get a lower rate by raising their credit score or increasing their deductible, assuming it will not create a financial hardship.

Frequently asked questions

What is the best car insurance company?

The best car insurance company is different for each driver, which is why it is important to compare providers using your own personal criteria. If you need to jump start your search, look into some of the providers who have received top marks from Bankrate, like USAA, Amica, Allstate, Geico and Nationwide.

How much car insurance do I need in High Point?

Drivers in High Point are required by law to to carry a minimum amount of liability insurance, as well as uninsured and underinsured motorist coverage. However, you might consider raising your coverage limits for more protection, or upgrading to a full coverage policy that comes with collision and comprehensive.

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
Elizabeth Rivelli
Insurance Contributor
Elizabeth has two years of experience writing for insurance domains such as Bankrate.com, The Simple Dollar, Coverage.com and NextAdvisor, among others. In addition to auto insurance, Elizabeth regularly writes about home insurance, renters insurance and life insurance. She also covers industry trends and general insurance education.
Edited by
Insurance Editor