Charlotte, NC Car Insurance
Compare Progressive, Allstate, GEICO and Nationwide (+ other top companies) to find the best and cheapest car insurance in Charlotte.
How much does car insurance cost in Charlotte?
Charlotte, North Carolina, boasts relatively affordable car insurance rates compared to many other cities in the region. A six-month policy costs an average of $659, which breaks down to about $110 per month. Our 2023 data shows that North Carolina Farm Bureau offers the cheapest rates, coming in at $493 for a six-month policy.
Drivers in Charlotte do pay slightly more than the average in North Carolina ($572 every six months), but less than the national average of $880. According to our customers in Charlotte, 40% of them said they're paying too much for car insurance. Maybe this describes you, too, or perhaps you simply want to be more knowledgeable about your auto insurance and what goes into your rates. Keep reading to dive into the workings of auto insurance rates and how various factors affect your premium in Charlotte.
|Car Insurance in Charlotte vs. North Carolina||Avg. 6 Mo. Premium|
|North Carolina Average||$572|
The cheapest car insurance companies in Charlotte
North Carolina Farm Bureau takes the prize for the cheapest coverage at $82 per month or $493 for a six-month policy.
In second place is GEICO, offering auto insurance rates of just $88 per month ($530 for six months).
Finishing out as third-cheapest on our list is Erie. A policy from Erie in Charlotte costs $552 per six-month policy, which still comes in at under $100 per month.
Are you paying too much for auto insurance?
Charlotte car insurance rates by company
According to our 2023 research and data, the best company in Charlotte for cheap auto insurance is North Carolina Farm Bureau. They offer rates at an average of $83 per month, or $493 for a six-month policy. However, GEICO is a close second with six-month policies at $530 ($88 per month).
Learn more about top-rated car insurance companies based on The Zebra's Customer Satisfaction Survey.
Cheapest car insurance companies in Charlotte, NC
Dynamic auto insurance data methodology
Methodology: The auto insurance rates displayed above and throughout this page are dynamic, meaning the data will refresh when the most recent information is made available. Rates are based on a sample driver profile — a 30-year-old single male driver with a Honda Accord and full coverage. This profile was adjusted based on common pricing factors used by major car insurance companies, like age, coverage level, driving record and others.
Shop around to save on car insurance
The best way to find affordable auto insurance is to compare, so let The Zebra help you out! Just enter your ZIP code to see rates from Progressive, Allstate, and GEICO (+ other top companies) to find the best car insurance rates in Charlotte.
Average car insurance in Charlotte by rating factor
Rating factors are individual details about you that affect your car insurance rates. Most insurance companies use the same rating factors, but they may prioritize them a bit differently. For example, one company might put more weight on your credit score while another may focus on your driving or claims history.
It's also important to remember that the best insurance company (and coverage level) may not stay the same over time. As life, your vehicle, and other factors change the company that worked for you in your 20s might not give you what you need in your 50s. Get new quotes every six months to a year to make sure you're still getting the best rates possible with the coverage and service you want.
Q: I didn't have an accident — Why is my insurance going up?
A: End-of-year earnings (revenue of premiums versus the cost of paying insureds’ claims) affect what you pay in Charlotte for car insurance, even if you're a great driver. Just like our cost of living increases, so do business expenses. You may pay more with a certain insurance company in a specific area just because the cost of doing business in Charlotte has gone up.
Auto insurance premiums by age in Charlotte
Age is one very important factor that goes into your auto insurance rate. Based on historical analysis and data, teen drivers have the highest accident rate compared to other age brackets. This means more claims payouts by insurance companies on behalf of young drivers. Insurers have to take this into consideration with their rates, and their high likelihood of accidents means that young drivers face the highest premiums. In Charlotte, teen drivers pay about $1,602 per year more than drivers in their 20s! This is the most significant rate change between any two age groups.
It can be surprising and frustrating for teens and their parents alike, but remember that it's just business and that these high costs only last a few years. With a good driving record and a few years of experience behind the wheel, car insurance will become more affordable for younger drivers soon.
Cheapest car insurance companies for teen drivers in Charlotte, NC
|Age Bracket||Cheapest Companies||Avg. 6 Mo. Premium|
|20s||North Carolina Farm Bureau||$493|
|30s||North Carolina Farm Bureau||$491|
|40s||North Carolina Farm Bureau||$491|
|50s||North Carolina Farm Bureau||$491|
|60s||North Carolina Farm Bureau||$491|
|70s||North Carolina Farm Bureau||$491|
Auto insurance premiums for minimum coverage in Charlotte
A large part of determining your car insurance rate is the level of coverage you choose to carry. According to our data, 22% of Charlotte drivers only have the required state minimum auto coverage. This can certainly keep your rates lower, but it also leaves you at risk of being underinsured if you're involved in an accident.
Opting for full coverage, which is carrying both collision coverage and comprehensive coverage, offers great protection but will also increase your rates. Collision and comprehensive also usually require a deductible. But the deductible is actually an opportunity to fine-tune your cost a bit more. For example, if you want to opt for a higher deductible, such as $2,500, then you'll pay less for your insurance than if you have a $1,000 deductible. But in the event of an accident, you'd need to pay $2,500 instead of only $1,000 before your insurance would kick in to cover the rest.
In many places, options like roadside assistance or uninsured motorist coverage place an added layer of protection onto your policy. However, North Carolina actually requires that drivers carry UMPD at 30/60/25 (the same limits as the state-required liability minimum). This is a good thing, as it will protect you and your vehicle from drivers who don't have proper coverage to pay if you're involved in an accident where the other driver is at fault.
Q: Can I lower my car insurance coverage?
A: Possibly — if your vehicle is paid off.
In Charlotte, 51% of drivers have leased. Usually, if you are leasing or financing your vehicle you'll be required to keep a specific amount of coverage on it. But if you're trying to cut costs and you own your vehicle outright, you may consider dropping collision or comprehensive coverage.
We suggest getting the actual cash value of your car from Kelley Blue Book or another reputable source. If it's worth less than $4,000, you can probably drop your collision coverage and save some money on your premium. Just remember, if you're involved in a collision-type incident you'll be stuck paying for repairs out of pocket.
Cheapest car insurance companies for minimum coverage in Charlotte, NC
- Minimum: State liability coverage only
- Basic: State liability + collision and comprehensive (full) coverage
- Better: Better liability limits at 50/100/50. Full coverage included with towing and rental car benefits. This may include additional personal medical benefits and uninsured/underinsured motorist coverage.
- Best: Best liability limits at 100/300/50. Full coverage included with better towing and rental car benefits and better personal medical benefits and increased uninsured/underinsured coverage.
41% of The Zebra's customers in Charlotte choose the basic tier of coverage, but that doesn't mean it's right for everyone. As mentioned above, carrying the state minimum required coverage is one way to cut costs, but it can leave you in a tough spot if you're involved in a multi-car accident or an incident involving bodily injuries. North Carolina's 30/60/25 liability limits provide coverage for damage you cause up to $30,000 per person in bodily injury, $60,000 per accident in bodily injury and $25,000 for property damage — this may be fine for straightforward traffic incidents, but not enough for all situations.
North Carolina also requires uninsured motorist protection (UMPD), as well. Learn more about insurance laws in North Carolina.
Charlotte car insurance rates by credit score
Credit score may not seem connected to your personal driving habits, but studies actually show that drivers with lower credit tend to take more risks behind the wheel, have more lapses in coverage and file more car insurance claims in general. Most states take the driver's credit score into account when determining their car insurance rate, and North Carolina is no exception. Because of the correlation between credit and driving habits, typically those with lower credit scores will pay higher premiums.
In fact, Charlotte drivers with poor credit (300-579) pay 37% more than drivers with excellent credit (800-850). Research shows that 33% drivers in Charlotte have a credit score that falls in the good (680-719) category, and for those in this tier, North Carolina Farm Bureau is the cheapest company.
Cheapest car insurance companies for bad credit in Charlotte, NC
Auto insurance rates with an at-fault accident
Although drivers don't set out to get into an at-fault accident, it does happen, and being prepared is important. Collisions and other at-fault accidents are actually the most common type of insurance claims, and they can greatly increase your car insurance premium. In 2023, an at-fault accident increased average rates in Charlotte to anywhere from $49 to $76 per month. If you've been in an at-fault accident and are looking for the cheapest insurance company, North Carolina Farm Bureau is your best bet in Charlotte.
Regardless of where you live, driving safely is the best way to keep car insurance rates affordable. Speeding citations, reckless driving, and DUI or DWI can significantly raise your rates — plus, they'll stay on your record for years after the fact. Sometimes DUI and DWI can even remain on your record for upwards of five years. An increase of $49 to $76 per month may not sound like much, but after three years of those extra costs you could easily end up paying a few thousand dollars on top of your regular rate.
Cheapest car insurance companies after an at-fault accident in Charlotte, NC
Charlotte car insurance rates by violation
Check out the table below to see exactly how much a citation or violation could cost you in Charlotte.
Car insurance rate increases after violations and citations in Charlotte, NC
|Accident/Violation||Avg. 6 Mo. Premium||% Rate Increase||$ Rate Increase|
|One Med/PIP claim||$659||0%||$0|
|One comp claim||$685||4%||$25|
|Two Med/PIP claims||$685||4%||$25|
|Two comp claims||$705||7%||$46|
|Failure to show documents||$780||18%||$121|
|Failure to wear a seat belt||$859||30%||$200|
|Driving without lights||$859||30%||$200|
|Child safety restraint||$859||30%||$200|
|Cell phone violation||$907||38%||$248|
|Texting while driving||$907||38%||$248|
|Driving with expired registration||$919||39%||$260|
|Speeding 6 - 10 MPH over limit||$919||40%||$260|
|Failure to yield||$940||43%||$281|
|Driving too slowly||$940||43%||$281|
|Operating a vehicle without permission||$940||43%||$281|
|Wrong way/wrong lane||$940||43%||$281|
|Failure to stop at a red light||$940||43%||$281|
|Speeding in school zone||$945||43%||$286|
|At-fault accident - $1000-$2000||$950||44%||$291|
|At-fault accident - less than $1000||$950||44%||$291|
|Speeding 11 - 15 MPH over limit||$1,004||52%||$345|
|In 65 MPH zone||$1,004||52%||$345|
|Speeding 16 - 20 MPH over limit||$1,009||53%||$350|
|Speeding 21 - 25 MPH over limit||$1,009||53%||$350|
|Following too closely||$1,033||57%||$374|
|At-fault accident - greater than $2000||$1,112||69%||$453|
|Passing school bus||$1,262||91%||$603|
|Driving with a suspended license||$1,972||199%||$1,313|
|Leaving scene of an accident/hit and run||$2,782||322%||$2,123|
|Refusal to submit to a chemical test||$2,795||324%||$2,136|
Why is car insurance in Charlotte so expensive?
Auto insurance rates vary for many reasons, as we've already explored. Most have to do with your personal details like credit and driving history, but several are out of your immediate control and have more to do with where you live. Charlotte, compared to many other cities, is actually relatively affordable when it comes to car insurance. The city average is less than a hundred dollars above the national average. But sometimes it can still feel pricey, so let's explore a few reasons why this may be.
Most cities have experienced an increased cost of living for residents, and usually, that also means an increased cost of doing business for auto insurers. These costs typically get passed along to drivers in the form of higher insurance rates.
Specific areas throughout the city can vary in price, as you can see from the zip code list shown here. Areas prone to crime, and theft, or having a high number of uninsured drivers are usually areas where it is more expensive to insure your vehicle.
Expensive Charlotte ZIP codes: 28212, 28208, 28205, 28206, 28217
Cheap Charlotte ZIP codes: 28269, 28277, 28210, 28226, 28270
Certain climates or regions that have hurricanes, frequent flooding or experience regular natural disasters will increase the risk for insurance companies, resulting in higher premiums. Weather-related damage is covered under comprehensive coverage, so if you are concerned about possible damage we definitely recommend you carry this as part of your policy in Charlotte.
Population growth in Charlotte means more drivers on the road, and an increase in accidents, which causes insurers to raise their rates (even for good or infrequent drivers). North Carolina requires UMPD coverage, this will be good peace of mind since 27% of Charlotte drivers aren't currently insured.
Bundling insurance policies in Charlotte
Although car insurance prices are increasing across the country, there are still things you can do to help keep your rates more affordable. One of the easiest ways is to bundle your policies. If you have car insurance, renters, or a homeowners policy, combine them to save 10% on premiums.
When shopping around for new insurance, ask about bundling discounts. If you've already got an agent, give them a call to see if there are discounts you may be eligible for. Learn more about bundling home and car insurance.
Cheapest car insurance companies for bundling home and auto insurance in Charlotte, NC
There are factors beyond your control that affect your car insurance rate. But you can do your part to save — it starts by shopping around and comparing auto insurance quotes with as many companies as you can. Luckily, The Zebra can help you get quotes from great local and national companies to find the most affordable rate that also meets your car insurance needs (and doesn't compromise service).
Remember to get new quotes a couple of times per year, or at the very least when you celebrate a milestone birthday, move to a new area, improve your credit or experience other life-changing events. Some companies will just be more expensive than others, so don't be afraid to keep your options open and switch companies if it makes sense.
Find the best rates for both auto and home insurance in minutes!
Frequently asked questions
How much is car insurance in Charlotte?
The average rate for a six-month auto insurance policy in Charlotte is $659, which breaks down to $110 per month. This is more expensive than the North Carolina state average but less than the national average.
What is the cheapest car insurance in Charlotte?
North Carolina Farm Bureau is the carrier with the cheapest rates in Charlotte, with prices at about $493 per six-month policy.
How much is car insurance in Charlotte for teenagers?
Teenagers in Charlotte pay over $1,500 for a six-month policy or $252 per month. Because car insurance is so expensive for teen drivers, we suggest that parents or guardians add teens to their own policy to help keep costs lower.
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.