Best cheap car insurance in Wilmington

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There are over 7 million licensed drivers on the road in North Carolina, but regulations on insurance premiums keep rates low in the Old North State. The average car insurance rates in Wilmington are cheap compared to other U.S. cities, with annual premiums of $1,277 for full coverage and $469 for minimum liability coverage. We used data collected from third-party resources plus car insurance rates provided by Quadrant Information Services to find the best and cheapest carriers for Wilmington drivers.

Best car insurance companies in Wilmington

To determine the best car insurance companies in Wilmington, Bankrate utilized Quadrant Information Services to acquire current premium information for the largest carriers in the area. We also analyzed customer service ratings, available coverage options, discount options and financial stability ratings in addition to premium. Based on the data collected, the best car insurance companies in Wilmington, North Carolina are:

Insurance company J.D. Power score Average annual premium for minimum coverage Average annual premium for full coverage
Allstate 846 / 1,000 $478 $1,561
Erie 871 / 1,000 $436 $1,115
Geico 857 / 1,000 $270 $774
North Carolina Farm Bureau 854 / 1,000 $410 $1,045
State Farm 835 / 1,000 $380 $902

Allstate

Although it has both the highest minimum and full coverage premiums on our list of carriers, Allstate provides coverage options that may be worth the additional premium. Along with the standard auto insurance coverage offerings, Allstate’s selection of coverage includes more unique options such as sound equipment coverage, classic car coverage and coverage to drive in Mexico.

The company also offers a host of discounts to help policyholders lower their premiums, including a good student discount, a new car discount and a pay-in-full discount. Allstate also scored above the industry average in the 2020 J.D. Power U.S. Auto Claims Satisfaction Study and has an A+ (Superior) rating with AM Best, meaning it is financially stable.

Erie

Wilmington drivers have access to Erie’s auto insurance, which is only sold in 12 states and the District of Columbia. Erie is known for including several unique coverages in its auto policies, including pet coverage and personal item coverage.

Erie also scored second place in the Southeast region in the 2020 J.D. Power U.S. Auto Insurance Study, with a score of 871 out of 1,000. The study measured customer satisfaction with a company’s policy information and billing process, claims handling, customer interaction, policy offerings and premiums. The high score indicates that Erie’s customers are generally satisfied with the company.

Geico

If you are looking for a simple auto insurance policy at a low price, you may want to get a quote from Geico. Geico’s policies tend to be relatively basic; the company only offers a few unique coverage options, like emergency road service and mechanical breakdown coverage, to allow policyholders to customize their policies. However, its premiums are the lowest on our list, so customers most interested in finding a low rate may find Geico appealing.

In addition to low premiums, Geico is known for offering many discount options to help policyholders lower their premiums even more. And if you are looking for digital access to your policy information, Geico is a great choice. Its mobile app lets you access ID cards, call for roadside assistance and file a claim. The app has a 4.7 out of 5.0 rating on Google Play and 4.8 out of 5.0 on the App Store.

North Carolina Farm Bureau

North Carolina Farm Bureau may be a smaller company than the others on our list, but it makes up for it with service. The company has agents in every county in the state. Since it calls North Carolina home, the company’s agents may be very familiar with the specific needs of North Carolina drivers.

North Carolina Farm Bureau also sells home, life, health, farm and business insurance. If you purchase an auto insurance policy through them, it may be convenient to bundle all your policies in one place.

State Farm

As the largest insurer of personal vehicles in the country, State Farm is a behemoth in the auto insurance industry. The company offers a variety of coverages, including ridesharing coverage and options to insure classic cars and sports cars.

If you have teen drivers to insure, State Farm may be a great option. The Steer Clear program can help teach your teen safe driving habits and provide you with a discount on your auto insurance premium. Your teen may also qualify for a good student discount if they are a full-time high school or college student and maintain a certain GPA or letter grade average.

Cheapest car insurance in Wilmington

Sometimes the best car insurance companies also have the cheapest rates, but not always. Luckily, Wilmington’s car insurance rates are lower than the average cost in the U.S. In Wilmington, the average cost for full coverage insurance is $1,277 compared to the U.S. rates at $1,674 and minimum coverage is $469 per year versus $565 countrywide.

To find the cheapest rates for Wilmington drivers, we compared quotes for the most popular carriers based on market share. Geico is the cheapest car insurance company, with State Farm and Erie coming in second and third. These companies offer mobile apps, the ability to submit claims online, 24/7 roadside assistance and are financially strong.

Though Erie is a mid-sized insurer compared to Geico and State Farm, you won’t have to sacrifice service or the ability to have claims paid in a timely manner to get the best cheap rate for car insurance in Wilmington.

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $270 $774
State Farm $380 $902
Erie $436 $1,115
Nationwide $453 $1,378
Allstate $478 $1,561

Wilmington insurance requirements

Most states in the U.S. require drivers to carry at least a minimum amount of liability coverage on all registered vehicles. North Carolina is no exception. The minimum liability limits are low, requiring at least:

  • $30,000 per person for bodily injury
  • $60,000 per accident for bodily injury (two or more people)
  • $25,000 for property damage

Though the minimum liability requirement is generally the cheapest rate, it’s usually not the best coverage option for most drivers. Liability coverage provides financial protection if you cause an accident with injuries or property damage.

If you have a car with financing or a lease, you may be required to carry full coverage or higher coverage limits to satisfy the loan or lease requirements. It’s also a good idea to consider full coverage if the car still has some value, so you don’t have to self insure if it needs to be repaired or fixed due to a covered accident.

Car insurance discounts in Wilmington

One of the best ways to find cheap car insurance with a great company in Wilmington is to maximize discounts to lower the rate. Here are some discounts that can have a big impact on your premiums:
Accident free: If your household hasn’t had an at-fault accident in at least three years, you can usually get a discount on your premium.

  • Defensive driving: For senior drivers 55 and older, passing a state-approved defensive driving course could lower your insurance costs.
  • Good student discount: For drivers under the age of 25 and who are in school full time, getting a B average or better can reduce car insurance costs.
  • Multi-policy: One of the biggest discounts available is the multi-policy discount if you insure your car, home and other products with the same carrier.

Frequently asked questions

What is the best car insurance company?

The best car insurance company is one that will provide cheap rates without affecting customer service and coverage options. Get several quotes to compare so you can find the best company for your household needs and budget.

How much does car insurance in Wilmington cost?

Costs vary greatly depending on where in Wilmington you live, your household driving history and the type of coverages you need. On average, car insurance in Wilmington is $469 a year for minimum coverage and $1,277 a year for full coverage.

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.