One thing you’re sure to realize is that cheap car insurance in NC is in abundance, especially for drivers with a clean history. With premiums averaging under $,1000, drivers will find that it’s much easier to pay for a personal vehicle.
With plenty of phenomenal destinations such as Pisgah National Forest and the Great Smokey Mountains, there’s plenty to experience in the state. Thankfully, with the right car insurance policy, exploring these sites is easy.
North Carolina Minimum Coverage
Having at least the minimum requirements for insurance in North Carolina is very important, especially as it is a “tort” state. With a tort system, one driver is always found at fault, even if the accident is determined to be 50/50. In addition, groups have the ability to sue one another after an accident in order to recoup damages.
There are four types of minimum coverage that you will be required to have when you sign up for insurance. This helps to make sure that you are protected regardless of the situations revolving around the accident.
In North Carolina, drivers are required to have:
- Bodily Injury: $30,000 per person per accident and $60,000 per accident
- Property Damage: $25,000 per accident
- Uninsured/Underinsured Motorist Bodily Injury: $30,000 per person per accident and $60,000 per accident
- Uninsured Motorist Property Damage: $25,000 with a $100 deductible
Especially because North Carolina is a tort state, simply having the minimum coverage isn’t enough. You will want to make sure that you don’t have to pay for any aspect of an accident out of your own pocket. Always choose more than the minimums when putting your policy together.
North Carolina Average Premiums
Compared to the national average, North Carolina has substantially lower premiums. On average, drivers will pay approximately $960 annually for their insurance compared to over $1,200 for the rest of the United States. It is important to note that not every driver will have access to affordable insurance.
There are many factors considered when determining the cost of your insurance, ranging from your driving history to your age. Some drivers may be responsible for insurance payments over $1,300, whereas others may have to pay less than $800 per year.
The three least expensive insurance companies in NC include:
- Progressive: $665 per year
- GEICO: $739 per year
- State Farm: $794 per year
Additional Insurance Coverage Options
One of the most important things to look at when you’re choosing the right insurance provider is the number of add-ons they have. Every provider will have a list of additional insurance coverage options, and they help to protect you and your vehicle beyond the minimum requirements.
A few of the best additional options for coverage include:
Towing and Labor
If your vehicle unexpectedly breaks down or is experiencing issues, you can use your insurance to pay for a towing service to a body shop. In addition, your insurance will help to pay for all, if not most, of the labor done to your vehicle.
Audio/Visual/Data Electronic Reimbursement
Improving the quality of the equipment in your vehicle is essential, especially as it helps to lower the cost of your insurance. One example of this is improving anti-theft equipment.
With this type of coverage, you can add updated audio, visual, and data electronic equipment to your vehicle and expect reimbursement.
Comprehensive
Comprehensive coverage is ideal for adding extra insurance where you might want peace of mind, such as for protecting your vehicle against theft. There are several things included with comprehensive including vandalism and acts of nature.
Cheap Car Insurance in NC: Determining Factors
When figuring out how much each driver will need to pay for their insurance monthly or annually, plenty of factors are taken into consideration. Once you start searching for cheap car insurance NC, you’ll quickly realize all of the areas of your life that you may need to improve for lower premiums.
The factors that affect your premiums most often include:
Age
Being a young driver in North Carolina is costly, as drivers under the age of 20 are likely to pay an average of $1,862 per year for insurance. Once you’re over 20, you’re looking at an annual average payment of $862.
Credit History
Individuals with poor credit are seen to be the most likely to lapse on payments, which results in higher premiums. If you have a credit score below 579, your average annual rate may be $1,006.
On the other hand, if you have a fantastic credit score (above 800), your payments could be as low as $834.
Driving History
In any state, spotty driving history is going to cost you more than you’d think. In North Carolina, drivers with a DUI have an average annual rate of $1,657, and those found at fault in an accident pay approximately $,1177 per year.
Reckless driving is the largest penalty, as your insurance could triple and reach a total of $3,635.
The Best Insurance Companies in North Carolina
Choosing car insurance isn’t always about finding the cheapest provider; you’ll also want one with a high rating. The best insurance companies process claims and answer any questions you may have quickly and concisely.
The top rated insurance companies in North Carolina include State Farm, Allstate, Nationwide, and the North Carolina Farm Bureau. All four of these insurance providers have an above “A” average for financial strength and customer reviews.
Car Insurance Laws in North Carolina
The main car insurance laws in NC are similar to most other states, and they include:
Proof of Insurance
If you are cited for a traffic violation and need to provide proof of insurance, you can do so either by providing an insurance ID card, self-certification, or a certificate of insurance (FS-1).
If you do not provide proof of insurance, you face a fee, a 30-day license suspension, and additional penalties above $200.
Lapsed Insurance
Drivers who decide to cancel their insurance or allow it to lapse will need to reply to a notice issued by the DMV within 10 days.
If you do not notify the DMV within the correct time, you will have to pay additional fees, may face having your license suspended, and additional fees above $200. You will also have your license plates removed from your vehicle by law enforcement officials.
Final Thoughts
The best way to find cheap car insurance in NC is to compare the cheapest insurance providers against the highest-rated providers. This will help you to find the perfect policy for a price that you can agree on.
Above all else, always remember that although a provider may be the cheapest, it doesn’t necessarily mean that they are the best.