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Best cheap car insurance in Winston-Salem for 2022

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The average cost of car insurance in Winston-Salem, North Carolina, is $399 annually for minimum coverage, and $1,192 for full coverage. Although this average is well below the national average of $1,674 for full coverage, drivers in Winston-Salem need to know which carriers offer the most advantages for the least amount in premiums.

To find the best cheap car insurance in Winston-Salem, Bankrate used 2022 rate data from Quadrant Information Services third-party information, such as for financial strength and customer service satisfaction and coverage options.

Best car insurance companies in Winston-Salem

Geico, State Farm, Nationwide and North Carolina Farm Bureau not only offer competitive rates, but each carrier also offers advantages such as high customer satisfaction and convenient features for policy management.

Insurance company J.D. Power score
Southeast region
Average annual premium for minimum coverage Average annual premium for full coverage
Geico 843 / 1000 $247 $746
State Farm 859 / 1000 $271 $792
Nationwide 831 / 1000 $345 $1,229
North Carolina Farm Bureau 836 / 1000 $360 $1,001


Geico offers the lowest average premiums of the carriers reviewed, and it also performs well with the J.D.Power customer satisfaction survey. Geico has offered insurance products for over 75 years and continues to innovate with digital assets. Whether your preference is to work online, on your smartphone or over the phone, Geico gives you a multitude of options to file claims or make changes to your policy.

State Farm

Of the four carriers highlighted, State Farm has the highest customer satisfaction ratings in the Southeast region. Since 1922, State Farm has made insurance products for almost any budget and any auto insurance need, and continues to this day. State Farm is now the largest provider of auto insurance in the United States, offering a wide range of coverage options and discounts.


Nationwide receives the lowest score for customer satisfaction among this group of carriers, with an 831 out of 1,000 points. However, Nationwide offers several advantages, including a variety of coverages for complete policy customization. You can tailor your policy further by adding on the popular accident forgiveness option or choose the vanishing deductible. You could also choose to add comprehensive and collision coverage with a total loss deductible waiver.

North Carolina Farm Bureau

This regional provider does not skimp on coverage or discount options for drivers in North Carolina. NCFB scores well above other large national carriers for customer satisfaction, with an 839 out of 1,000 points. This carrier receives an overall A rating from AM Best, further highlighting its financial strength. To receive quotes and complete information for coverage options and discounts for a North Carolina Farm Bureau policy, you need to work with a local agent.

Cheapest car insurance in Winston-Salem

Overall, North Carolina ranks within the Top 20 least expensive auto insurance rates in the country, and Winston-Salem is no exception. The average cost of car insurance in Winston-Salem is $399 annually for minimum coverage and $1,182 for full coverage. Nationally, the average cost of a full coverage policy is $1,674 annually.

Carriers such as Geico, State Farm, Nationwide, Erie and Allstate not only provide the cheapest rates for coverage in Winston-Salem, but they also offer numerous other advantages too. These carriers all offer strong financial ratings through AM Best. Erie stands out because of the high, above-industry average rating through J.D. Power. However, Erie insurance may only be obtained through an agent and not online, unlike the other four carriers where you have multiple purchasing options.

Insurance company Average annual premium for minimum coverage Average annual premium for full coverage
Geico $247 $746
State Farm $271 $792
Nationwide $345 $1,229
Erie $377 $1,043
Allstate $451 $1,418

Winston-Salem insurance requirements

Like most other states, North Carolina requires drivers to carry a minimum amount of liability coverage. The 30/60/25 requirement includes:

  • $30,000 Bodily injury per person
  • $60,000 Bodily injury per accident
  • $25,000 Property damage per accident

Keep in mind, purchasing the minimum state requirement may not even be an option for your personal circumstances. For example, if you lease or finance a vehicle, most lenders require you to purchase comprehensive and collision coverage until the loan is paid in full. If you purchase a new vehicle, many lenders may also require gap coverage.

Car insurance discounts in Winston-Salem

Taking advantage of discounts is one way to maximize savings for your auto insurance rates in Winston-Salem. Examples of available discounts include:

  • Good student: Save on your policy if you maintain good grades. Most carriers provide discounts if you maintain a B average or higher.
  • Defensive driving: If you participate in a defensive driving course, you will often receive additional savings. Before you sign up, confirm it is a carrier-approved course to receive your discount.
  • Safety equipment: If your car is equipped with safety features such as airbags, anti-lock brakes or an anti-theft system, you may be eligible for additional discounts.
  • Bundling: One of the easiest ways to save is to purchase an auto insurance policy from the same carrier you use for homeowners or renters insurance.

Not only are discounts an easy way to save, but there are other tactics to consider for lowering premiums. For example, if you purchase comprehensive and collision coverage, if you are willing to take on a higher deductible then your premiums will cost less. Another option is to pay your premiums in full to avoid additional installment fees.

Frequently asked questions

What is the best car insurance company?

There are a variety of factors used to determine the best car insurance company. Aspects such as customer service ratings, coverage options, discounts available and digital assets are examples of what to review.

How much does car insurance in Winston-Salem cost?

The average cost of car insurance in Winston-Salem is $399 annually for minimum coverage and $1,182 for full coverage. While this is well below the national average, your rates may be higher or lower. Rates are dependent on your age, driving history, vehicle and miles driven and other personal factors.


Bankrate utilizes Quadrant Information Services to analyze 2022 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
Sara Coleman
Former Insurance Contributor
Sara Coleman is a former insurance contributor at Bankrate. She has a couple of years of experience in writing for insurance domains such as The Simple Dollar,, and numerous other personal finance sites. She writes about insurance products such as auto, homeowners, renters and disability.
Edited by
Loans Editor