Cheapest and Best Car Insurance in Wilmington, NC (2024)

In Wilmington, North Carolina, North Carolina Farm Bureau offers the cheapest full and minimum coverage car insurance. It also provides the best value, balancing price and service. State Farm is the most affordable for families with teens. Erie tops the list for customer service. Identify the best fit based on your needs and coverage preferences.

MoneyGeek found that North Carolina Farm Bureau offers the most affordable minimum coverage car insurance in Wilmington. The following companies offer the cheapest car insurance options:

• North Carolina Farm Bureau: $288 per year
• State Farm: $329 per year

Allstate has the most expensive rate for minimum coverage policies in Wilmington, with an average annual premium of $976. This rate is $688 more per year than North Carolina Farm Bureau, highlighting the significance of comparing rates to find the best car insurance deal.

For motorists in North Carolina, state law mandates the minimum required car insurance coverage. Below are the established coverage amounts:

• $30,000 bodily injury per person
• $60,000 bodily injury per accident
• $25,000 property damage liability per accident
• $30,000 uninsured motorist bodily injury per person
• $60,000 uninsured motorist bodily injury per accident
• $25,000 uninsured/Underinsured property damage coverage

For example, if you have the minimum coverage and are at fault in an accident, your policy will pay up to $30,000 for each injured person, maxing out at $60,000 per accident. Should expenses exceed these limits, you would be responsible for the remainder. Remember, these figures are baseline protections according to North Carolina law, ensuring that drivers carry enough coverage to be financially accountable in case of an accident.

MoneyGeek found that North Carolina Farm Bureau offers the cheapest full coverage car insurance in Wilmington, providing substantial savings for drivers.

• North Carolina Farm Bureau: $541 per year
• State Farm: $563 per year

Allstate offers the most expensive full coverage policy in Wilmington, at an average annual premium of $1,887 — $1,346 higher than the cheapest option. This rate difference is a crucial reminder of why shopping around is important, particularly since full coverage car insurance is more expensive due to its comprehensive protection against various incidents.

Full coverage policies extend beyond increased liability limits. They also encompass comprehensive and collision insurance components.

• Collision Insurance: This component shields your vehicle against damage from impacts with another car or an inanimate object, such as a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Insurance: This addresses damage to your automobile caused by non-collision incidents like theft, vandalism, fires, natural weather events or being hit by an animal.

Investing in full coverage insurance is especially prudent for those with new cars to protect the substantial financial investment. However, this additional security may not be economical for older vehicles due to the steep increase in premiums. To determine how much car insurance you need, consider the trade-off between more comprehensive coverage, which leads to higher premiums, and the risk of insufficient coverage with lower premiums.

MoneyGeek found that North Carolina Farm Bureau is the cheapest option in Wilmington for drivers with infractions on their driving record. These are the most affordable rates for various traffic offenses:

• Speeding Ticket: North Carolina Farm Bureau ($771 per year)
• At-Fault Accident: North Carolina Farm Bureau ($710 per year)
• DUI: North Carolina Farm Bureau ($1,940 per year)

GEICO has the most expensive rate for drivers with an at-fault accident, with an average annual premium of $2,694. Allstate is the most costly for those with a speeding ticket and a DUI, at around $2,776 and $7,867 per year, respectively. The notable $1,169 difference in annual rates between the cheapest options after a speeding ticket and the cheapest after a DUI illustrates how the severity of an offense can significantly alter car insurance rates.

In Wilmington and many other cities, insurance premiums typically increase with the gravity of a driving violation due to the higher risk perceived by insurers. For example, drivers with a DUI on their record can expect to pay an average annual premium of $4,939, in stark contrast to $1,969 for those with a speeding ticket. Given these significant rate disparities, it's paramount for drivers with infractions to diligently compare insurance quotes, as shopping around might translate to substantial savings.

MoneyGeek found that State Farm offers the cheapest car insurance for teens in Wilmington.

• State Farm: $1,267 per year for female teens and male teens
• Nationwide: $1,522 per year for female teens and male teens

These rates reflect the combined annual premium for a policy with two parents and a teen driver. GEICO has the most expensive teen family policy in Wilmington, with an average annual premium of $4,289 for female and male teens — a staggering $3,022 difference from the cheapest option. This rate difference underscores the significance of comparing quotes, especially when insuring high-risk drivers like teenagers.

In Wilmington and similar cities, teen drivers face steep car insurance premiums. An individual teen policy costs around $3,245 annually, significantly higher than the $2,542 average premium of a joint family plan. This price discrepancy stems from the enhanced risk insurers attribute to inexperienced teen drivers prone to accidents. Securing individual policies can be challenging for teens due to this perceived risk, leading many insurers to hesitate in offering them standalone coverage. A joint family plan provides a more cost-effective solution and eases the approval process for teen car insurance.

MoneyGeek found that North Carolina Farm Bureau offers the cheapest car insurance for military backgrounds in Wilmington. These are the top two most affordable providers:

• North Carolina Farm Bureau: $541 per year
• State Farm: $563 per year

Although USAA is not included in this study, it is renowned for its competitive rates and exceptional service tailored to the needs of active-duty military members. USAA conducts business in North Carolina and is often among the more affordable insurers on a national level.

In Wilmington, the most efficient strategy for saving on car insurance is to compare rates from various insurers. However, this process can be time-intensive, with upward of 15 minutes needed per company — thereby dedicating over an hour just for research.

MoneyGeek's car insurance calculator is a crucial tool to expedite savings. It simplifies the procedure by concentrating on principal factors affecting car insurance costs in North Carolina. Input details including age, driving history, credit score and desired coverage level to receive instant rate estimates, streamlining your search for the most cost-effective policies.

Finding the right auto insurance for you depends on what you value most — whether it's service, cost, coverage or other factors. MoneyGeek has conducted research using a tailored scoring system for different categories to guide your decision. These are the top car insurance providers in Wilmington for various needs:

• Best overall: North Carolina Farm Bureau (MoneyGeek score 91 out of 100)
• Best for service: Erie (MoneyGeek score 85 out of 100)
• Best cheap: North Carolina Farm Bureau (MoneyGeek score 91 out of 100)

North Carolina Farm Bureau is Wilmington's premier choice for overall value and affordability without compromising on service. It provides robust coverage, appealing to customers seeking a balanced option. Erie delivers the best service for those prioritizing a superior customer experience.

MoneyGeek found that North Carolina Farm Bureau offers the best option for car insurance in Wilmington. MoneyGeek's comprehensive evaluation considers various critical factors to find the best car insurance providers.

• North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($541 per year)
• Erie: MoneyGeek score of 88 out of 100 ($641 per year)

North Carolina Farm Bureau stands out due to its high satisfaction and affordability scores. These scores indicate that customers are pleased with the service and find the policies economically favorable. The score reflects the appeal of a full coverage policy and emphasizes the value North Carolina Farm Bureau offers to Wilmington drivers.

MoneyGeek found that Erie is the best option for car insurance in Wilmington in terms of customer service. This distinction is earned by focusing on overall satisfaction, claims handling and broad coverage scope, independent of the company’s rates.

• Erie: MoneyGeek score of 85 out of 100 ($641 per year)
• North Carolina Farm Bureau: MoneyGeek score of 84 out of 100 ($541 per year)

Erie stands out due to its superior scores in the customer satisfaction and coverage options categories, which are key components contributing to its top-ranking position and high MoneyGeek score. These ratings reflect Erie's commitment to providing excellent service and comprehensive protection to its policyholders.

MoneyGeek found that North Carolina Farm Bureau offers the best cheap car insurance in Wilmington, striking the perfect balance between cost and quality service. This result highlights that while affordability is a primary concern, the effectiveness of claims handling and customer satisfaction are also crucial components.

• North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($288 per year)
• Erie: MoneyGeek score of 89 out of 100 ($332 per year)

North Carolina Farm Bureau stands out for its exceptional blend of reasonable rates and solid service. It has the highest affordability score, along with impressive satisfaction and claims handling scores. Its top spot is attributed significantly to its cost-effectiveness for a minimum coverage policy.

In Wilmington, North Carolina, the average car insurance cost is $982. This amount is below the state average for North Carolina, which is $1,051 per year. North Carolina's average is significantly lower by $730 than the national average of $1,781.

While location is a critical factor influencing car insurance premiums, rates are often based on various considerations, including the driver's personal history, vehicle type and coverage choices. The significance of location is linked to area-specific risks such as traffic congestion, accident rates and the prevalence of theft. According to MoneyGeek's analysis, Fayetteville has the most expensive average premium at $1,308 per year. On the other hand, Durham enjoys the cheapest average premium at $914 per year. The rate gap of $394 highlights the impact of locality on insurance costs. Rates might even be more affordable in less urbanized areas with lower traffic density.