The top three cheapest car insurance companies in Charlotte are North Carolina Farm Bureau, Nationwide, and Erie. Insurance rates can differ widely based on your driving profile and the level of coverage you choose. The table below breaks down different categories to show which company is most affordable based on these specific factors.
Cheapest Car Insurance in Charlotte, NC
Updated: December 24, 2024
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Key Takeaways
The five cheapest car insurance companies in Charlotte are North Carolina Farm Bureau, Erie, State Farm, Progressive and Nationwide.
The lowest monthly rates in Charlotte or car insurance are $29 for state minimum coverage and $54 for full coverage.
On average, residents pay $63 in Charlotte each month for minimum coverage and $121 for full coverage.
Why Trust MoneyGeek? MoneyGeek analyzed car insurance companies using data collected from the North Carolina Department of Insurance and Quadrant Information Services. Learn more.
Cheapest Car Insurance Rates and Companies in Charlotte
| North Carolina Farm Bureau | Minimum Coverage | $29 |
| North Carolina Farm Bureau | Full Coverage | $54 |
| State Farm | Teens | $132 |
| Erie | Young Adults | $34 |
| North Carolina Farm Bureau | Senior Drivers | $29 |
| North Carolina Farm Bureau | Drivers With Bad Credit | $39 |
| North Carolina Farm Bureau | Drivers With a Speeding Ticket | $42 |
| National General | Drivers With a DUI | $81 |
| North Carolina Farm Bureau | Drivers With an Accident | $38 |
| North Carolina Farm Bureau | Military Affiliated Drivers | $29 |
Cheapest Car Insurance Coverage in Charlotte
Finding the cheapest car insurance in Charlotte means comparing rates from various providers. Your age, driving history, vehicle type, and coverage needs all play a role in determining your premium. While the cheapest car insurance in North Carolina might not be the lowest in Charlotte, getting car insurance quotes can help you find affordable coverage that fits your needs.
Cheapest Minimum Coverage Car Insurance in Charlotte
North Carolina Farm Bureau offers the cheapest minimum coverage car insurance in Charlotte at $29 per month, followed by Erie at $33. Check the table below to see more providers offering great rates for minimum coverage in the Queen City.
| North Carolina Farm Bureau | $29 | $34 |
| Erie | $33 | $30 |
| State Farm | $43 | $20 |
| Progressive | $53 | $10 |
| Nationwide | $54 | $9 |
| National General | $63 | $0 |
Cheapest Full Coverage Car Insurance in Charlotte
North Carolina Farm Bureau offers the cheapest full coverage car insurance in Charlotte at $645 per year. Check the table below for more providers offering great rates on full car insurance coverage.
| North Carolina Farm Bureau | $54 | $67 |
| Erie | $64 | $57 |
| State Farm | $82 | $39 |
| Progressive | $84 | $37 |
| Nationwide | $112 | $9 |
Cheapest Car Insurance in Charlotte by Age
In Charlotte, your age can change your car insurance costs. Young drivers often pay more because they're new on the road. Over time, these rates drop, but they can go up again after 70. Below, see the cheapest options for teens, young adults and seniors.
Cheapest Car Insurance in Charlotte for Teens
For teens in Charlotte, Nationwide, State Farm, and Progressive offer the cheapest car insurance. Check the table below to find the lowest rates for your age group in the city.
| State Farm | $132 | $86 | $143 | $95 |
| Nationwide | $132 | $86 | $152 | $86 |
| Progressive | $197 | $21 | $231 | $7 |
Cheapest Car Insurance in Charlotte for Young Adults
Erie offers the cheapest car insurance for young adults in Charlotte at $402 annually, which is 50% cheaper than the city average. The next three affordable companies are North Carolina Farm Bureau at $432, Progressive at $633, and GEICO at $735.
| Erie | $34 | $33 |
| North Carolina Farm Bureau | $36 | $31 |
| Progressive | $53 | $14 |
| GEICO | $61 | $5 |
| State Farm | $62 | $5 |
| National General | $63 | $4 |
| Nationwide | $66 | $1 |
Cheapest Car Insurance in Charlotte for Seniors
North Carolina Farm Bureau offers the cheapest rate for seniors in Charlotte at $345 annually. Learn more about car insurance for seniors. Check the table below to explore options from other providers and find the best rates for senior drivers.
| North Carolina Farm Bureau | $29 | $36 |
| Erie | $32 | $32 |
| State Farm | $43 | $22 |
| Nationwide | $51 | $13 |
| Progressive | $53 | $12 |
| National General | $63 | $1 |
Cheapest Car Insurance in Charlotte for Drivers With Bad Credit
A low credit-based insurance score can result in higher premiums compared to those with good scores. North Carolina Farm Bureau offers cheap car insurance for drivers with bad credit at $463 per year, while Erie offers $529. Review the table below for more options from other providers.
| North Carolina Farm Bureau | $39 | $56 |
| Erie | $44 | $50 |
| Progressive | $53 | $42 |
| National General | $63 | $31 |
| Nationwide | $65 | $29 |
HOW TO LOWER YOUR RATE WITH BAD CREDIT
Drivers with poor credit can still lower car insurance costs by using common discounts, bundling different insurance policies, and comparing personalized quotes from multiple companies. Improving your credit over time can also help you get a lower rate.
Cheapest Car Insurance in Charlotte After a Driving Offense
Insurance providers assess risk by looking at your driving record. Violations like speeding tickets, accidents or DWIs can raise your rates. Even the cheapest car insurance for drivers with violations will cost more than for those with clean records. We've broken down affordable providers so you can find cheap car insurance after an accident and for other driving offenses.
Cheapest Car Insurance in Charlotte After a DUI
Drivers in Charlotte with a DWI can still find affordable car insurance. National General offers the cheapest minimum coverage at $974 annually. Check the table below to explore options from other providers and find the best rates for drivers with a DWI in the area.
| National General | $81 | $164 |
| North Carolina Farm Bureau | $109 | $136 |
| Erie | $136 | $109 |
| State Farm | $173 | $72 |
| Progressive | $211 | $34 |
| Nationwide | $213 | $32 |
Cheapest Car Insurance in Charlotte After an Accident
For drivers in the Queen City with an at-fault accident record, North Carolina Farm Bureau offers the most affordable minimum coverage at $461 annually. Check the table below to explore options from other providers and find the best car insurance company with the most affordable rates.
| North Carolina Farm Bureau | $38 | $53 |
| Erie | $48 | $44 |
| State Farm | $59 | $32 |
| Progressive | $71 | $20 |
| Nationwide | $84 | $8 |
| National General | $87 | $4 |
Cheapest Car Insurance in Charlotte After a Ticket
North Carolina Farm Bureau offers the most affordable car insurance for drivers with a speeding record at $503 annually. Erie follows closely with an annual rate of $624. Check the table below to explore options from other providers and find the best car insurance company with the most affordable rates for drivers with a speeding record.
| National General | $79 | $20 |
| North Carolina Farm Bureau | $42 | $57 |
| Erie | $52 | $47 |
| State Farm | $65 | $34 |
| Progressive | $78 | $20 |
| Nationwide | $80 | $19 |
Cheapest Car Insurance in Charlotte for Military Drivers
Military drivers in Charlotte, including active-duty members, veterans, and their families, can often find special discounts and competitive rates on car insurance. Among the cheapest car insurance providers for military drivers, North Carolina Farm Bureau offers an annual rate of $343, while Erie provides a rate of $393 for minimum coverage.
| North Carolina Farm Bureau | $29 | $34 |
| Erie | $33 | $30 |
| State Farm | $43 | $20 |
| Progressive | $53 | $10 |
| Nationwide | $54 | $9 |
| National General | $63 | $0 |
Car Insurance Quotes in Charlotte
The estimated car insurance rates offer drivers in Charlotte a glimpse of expected premiums, serving as a helpful starting point for those seeking affordable options. With rates like North Carolina Farm Bureau's $29 monthly rate, it's clear why personalized insurance quotes are vital for accurate cost assessments.
Compare Charlotte Car Insurance Estimates Online
Since each insurer evaluates personalized factors differently, comparing quotes is crucial to finding the cheapest car insurance. For example, North Carolina Farm Bureau offers a rate of $29/month, while Erie is $33/month, both below the city average. With MoneyGeek, Charlotte residents can enter basic info and receive multiple quotes in minutes.
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Rates updated:
Dec 24, 2024
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Car Insurance Agencies in Charlotte
While comparing car insurance quotes online is efficient for finding affordable coverage, those seeking personalized advice should consider local agencies. For instance, North Carolina Farm Bureau offers a monthly rate of $29, while Erie provides a rate of $33. Below, find top agency details.
How Much Does Car Insurance Cost in Charlotte?
In Charlotte, full coverage car insurance averages $1,453 a year. Minimum coverage is less, around $754 annually. Remember, these averages are for a 40-year-old with good credit and a clean driving record; your rate may differ.
Charlotte Auto Insurance Cost by Driver Profile
See how your auto insurance rates stack up. Our table below shows average costs for different driver profiles to help you find affordable coverage.
| Teen Drivers | No Data | $238 |
| Young Adults | $67 | $129 |
| Senior Drivers | $64 | $121 |
| Drivers With Bad Credit | $94 | $185 |
| Drivers With a Speeding Ticket | $99 | $190 |
| Drivers With a DUI | $245 | $483 |
| Drivers With an Accident | $91 | $177 |
| Military Affiliated Drivers | $63 | $121 |
How Expensive Is Car Insurance Charlotte?
In Charlotte, expect to pay about 25% more for state minimum car insurance and 21% more for full coverage compared to North Carolinians overall. Monthly, that's around $63 for minimum and $121 for full protection.
| City Avg Rate | $63 | $121 |
| State Avg Rate | $50 | $100 |
| vs State Avg Rate | $-13 | $-21 |
Car Insurance Requirements in Charlotte
North Carolina mandates that all drivers maintain a minimum coverage auto insurance policy. This policy must cover specific thresholds for bodily injury and property damage liability to ensure financial responsibility on the road.
Minimum coverage limits in North Carolina are:
- $30,000 for bodily injury liability per person.
- $60,000 for bodily injury liability per accident.
- $25,000 for 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.
An auto insurance policy offers financial protection against expenses from accidents. Liability coverage specifically helps pay for damages or injuries that the policyholder is responsible for in an at-fault accident.
For example, if you're at fault in a collision that injures another driver, your bodily injury liability coverage would cover medical expenses up to the per person limit of $30,000. It's crucial to have adequate coverage to protect your finances.
Cheapest Car Insurance in Charlotte: Bottom Line
Getting affordable car insurance in Charlotte depends on your age, driving history, and car type. North Carolina Farm Bureau and Nationwide often have the best rates. But it's key to compare quotes for the best deal. Whether you're a teen, a senior, or have a few dings on your record, checking different providers saves you money.
Cheap Charlotte Car Insurance: FAQ
MoneyGeek answers common questions about affordable car insurance in Charlotte. We help you find the best coverage for your needs, focusing on cost-effective options. Our goal is to make understanding car insurance simple and straightforward.
What is the cheapest car insurance company in Charlotte, North Carolina?
The cheapest car insurance company in Charlotte, North Carolina, is typically North Carolina Farm Bureau, with average rates of $29 per month for minimum coverage and $54 per month for full coverage. However, rates vary based on age, driving history and coverage needs, so it’s best to compare quotes.
What is the average cost of car insurance in Charlotte, North Carolina?
The average cost of car insurance in Charlotte, North Carolina, is around $1,453 per year for full coverage, while minimum coverage averages approximately $754 per year. These rates can vary depending on your specific circumstances.
Is car insurance in Charlotte, North Carolina, expensive?
Yes, car insurance in Charlotte, North Carolina, tends to be more expensive than the state average. Factors like higher traffic congestion, accident rates and crime rates contribute to the increased premiums. Shopping around and comparing quotes can help you find more affordable options.
How We Chose the Cheapest Car Insurance in Charlotte, NC
To help Charlotte drivers find the most affordable auto insurance companies, MoneyGeek analyzed Charlotte auto insurance rates based on data and information from the North Carolina Department of Insurance and Quadrant Information Services.
Charlotte Driver Profile
MoneyGeek created a sample driver profile to calculate car insurance quote averages in Charlotte with the following characteristics:
- 40-year-old male
- 2012 Toyota Camry LE
- Clean driving record
- 12,000 miles driven annually
Certain factors — such as age, driving record, credit score and military affiliation — were adjusted to find the most suitable insurance companies for specific driver profiles.
Coverage Levels in Charlotte
MoneyGeek compared the most affordable insurance providers for both minimum and full coverage auto insurance policies.
The minimum coverage requirements in North Carolina are:
- $30,000 bodily injury liability per person
- $60,000 bodily injury liability per accident
- $25,000 property damage liability per accident
For a full coverage policy, we used the following coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability per accident
- Comprehensive and collision insurance, each with a $1,000 deductible
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.