BestCar InsuranceCharlotteThe Best Car Insurance in Charlotte, NC Carolina, for 2023
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Ensure you're getting the best rate. Review quotes from a top insurance company.
Although Nationwide is the best car insurance company in Charlotte overall, keep in mind that the best one for you depends on your level of coverage, your age and background. MoneyGeek also looked at the best vehicle insurance companies for full and minimum coverage, young and older drivers, drivers with violations and those with military experience.
In addition, MoneyGeek included information about the cheapest auto insurance in Charlotte for drivers looking to save money.
BestCar InsuranceCharlotteThe Best Car Insurance in Charlotte
Overall - Nationwide
Minimum Coverage - Nationwide
Young Drivers - GEICO
Senior Drivers - Nationwide
Driving Violations - Nationwide
Military - USAA
Best Car Insurance Companies in Charlotte: Overall
To find the best auto insurance companies in Charlotte, MoneyGeek looked at average premiums, user satisfaction and claims ratings. The following are the best overall car insurance providers, according to our unique ranking system:
- Nationwide: 95 out of 100
- Erie: 88 out of 100
Consistently ranking as one of the top insurers in the country, USAA opened its first office in Charlotte in April 2022. However, USAA policies are only available to current and past military personnel and their families.
The Top Car Insurance Companies in Charlotte
1
NationwideOverall
Score:95
Nationwide scored well in terms of financial stability and affordability, offering a full coverage policy at $647 per year. Identity theft coverage and total loss deductible waiver are two coverages Nationwide offers that others don’t.
More About Nationwide
Nationwide offers Identity theft and a total loss deductible waiver as optional coverages, unusual among insurers. The company’s identity theft expense reimbursement pays up to $25,000 in expenditures if you or anybody in your home is a victim of identity theft or fraud.
However, Nationwide does not provide two of the most common add-on coverages, new car replacement and better car replacement.
Read MoneyGeek's Nationwide auto Insurance Review2
Erie
Score:88
On average, a full coverage policy with Erie costs $781 per year. The company ranks well for customer satisfaction and stability, with claims being its strongest feature. In addition, Erie provides better car replacement coverage.
More About Erie
Erie provides better car replacement coverage, which is uncommon. If you've had your car for less than two years and it's totaled, Erie will replace it with the most recent model.
Erie also offers common add-on coverages, including rental car reimbursement, accident forgiveness and new car replacement. It does not, however, provide roadside assistance or gap insurance, which are standard coverages offered by other insurers.
Read MoneyGeek's Erie auto Insurance ReviewRESOURCES ON CAR INSURANCE IN CHARLOTTE, NORTH CAROLINA
MoneyGeek explored Charlotte’s cheapest auto insurance companies to assist drivers looking for a deal. If you want to learn more about car insurance in North Carolina, MoneyGeek has compiled the following resources:
Best Cheap Car Insurance for Minimum Coverage in Charlotte
In Charlotte, all drivers must have insurance that meets the state's minimum standards. According to MoneyGeek's research, the best car insurance providers in Charlotte for minimum coverage are:
- Nationwide: 95 out of 100
- Erie: 82 out of 100
MoneyGeek came to this conclusion after looking at policies for drivers with diverse backgrounds, such as those with traffic violations, young drivers and senior drivers.
MoneyGeek’s Pick: Nationwide
pros
A minimum coverage policy costs $325 per year
Discounts such as bundling, paperless and automatic payment
MoneyGeek user satisfaction rating of 4 out of 5
MoneyGeek claims rating of 4 out of 5
cons
Pay-in-full and airbag discounts not offered
COMPANY HIGHLIGHTS
Nationwide provides discounts for bundling and safe driving. Homeowners and renters with a Nationwide insurance policy may be able to save money by combining their auto and home insurance policies. Drivers who have been accident-free for five years are also eligible for a discount.
If you set up automatic payments, you may be eligible for a discount from Nationwide, one unique to this insurer.
Best Car Insurance for Young Drivers in Charlotte
The following are MoneyGeek’s picks for best insurers in Charlotte for teens and young adults:
- GEICO: 96 out of 100
- Erie: 81 out of 100
MoneyGeek developed these scores based on varying levels of coverage and histories of 18-year-old drivers in Charlotte. Due to their inexperience, car insurance for teens, young drivers and students is usually more expensive than the average car insurance policy.
MoneyGeek’s Pick: GEICO
pros
An affordable full coverage policy for a safe driver costs $1,273 per year
Discounts for young drivers: good student, driver’s education and defensive driving courses
MoneyGeek user satisfaction rating of 4 out of 5
MoneyGeek claims rating of 4 out of 5
cons
New or better car replacement coverages not offered
Average complaint resolution scores
COMPANY HIGHLIGHTS
Choosing a provider with a reputable service is particularly reassuring for younger drivers and their parents. GEICO offers some of the most competitive car insurance rates for young drivers in Charlotte. It also provides coverages for accident forgiveness and roadside assistance, which are helpful against the risk of young drivers.
GEICO offers discounts to young drivers, including driver's education, good student and defensive driving classes. If you are a full-time student with a good academic record or have taken a defensive driving or driver's education course, you may be eligible for a discount.
Best Car Insurance for Senior Drivers in Charlotte
MoneyGeek has identified the best insurance companies in Charlotte for senior drivers as:
- Nationwide: 95 out of 100
- North Carolina Farm Bureau: 77 out of 100
MoneyGeek examined various policy coverages as well as the records of 70-year-old drivers in Charlotte. Auto insurance for seniors is typically more expensive than for middle-aged motorists.
MoneyGeek’s Pick: Nationwide
pros
An affordable full coverage policy for a safe driver costs $590 per year
Offers a defensive driving discount
MoneyGeek user satisfaction rating of 4 out of 5
MoneyGeek claims rating of 4 out of 5
cons
No senior driver discount
COMPANY HIGHLIGHTS
Nationwide offers the best rates and advantages for senior drivers in Charlotte. Though car insurance coverage for seniors is identical to that for other age groups, some insurers demand higher rates. Completing a defensive driving course, however, can result in a discount for seniors.
If your insurance payments are automatically deducted from your bank account, you may be eligible for a discount. If your car is damaged in an accident, gap insurance may cover the difference between the actual cash value and the amount owed on your lease or loan.
Best Car Insurance With a Driving Violation in Charlotte
Getting car insurance after a driving offense might be challenging. To assist you, MoneyGeek reviewed the best car insurance companies in Charlotte for drivers who were at fault in an accident:
- Nationwide: 90 out of 100
- Erie: 85 out of 100
Because they are considered high risk, people with bad driving records pay more for car insurance. MoneyGeek generated these rankings based on various driver ages and coverage levels.
MoneyGeek’s Pick: Nationwide
pros
An affordable full coverage policy for a 40-year-old driver with an accident on their record costs $1,126 per year
Offers common discounts for saving money
MoneyGeek user satisfaction rating of 4 out of 5
MoneyGeek claims rating of 4 out of 5
cons
No new or better car replacement discounts
COMPANY HIGHLIGHTS
Companies that offer competitively priced policies with specific coverage types may be able to assist drivers with a prior accident or penalty. However, Nationwide does not offer new or improved car replacement coverages, which may be necessary for injured individuals.
Anti-theft systems, defensive driving, bundling, safe driving and multiple cars are just a few of the Nationwide discounts available to drivers.
Best Car Insurance With a Military Background in Charlotte
Specializing in car insurance for military members and their families, USAA has an above-average score for customer complaints and an excellent customer satisfaction rating across the country. The company recently opened an office in Charlotte and is likely to become Charlotte’s best car insurance option for veterans, active military personnel and their family members.
MoneyGeek’s Pick: USAA
pros
Affordable full coverage rates
Offers five of the most common discounts, including multiple car, safe driving and defensive driving
MoneyGeek claims rating of 5 out of 5
MoneyGeek customer satisfaction rating of 4.5 out of 5
cons
Only offers three of the seven common add-on coverages
Available only to drivers with a military background
COMPANY HIGHLIGHTS
Consistently ranking high for affordability and quality service, USAA is ideal for drivers with a military background. It offers three common add-on coverages: roadside assistance, rental car/travel reimbursement and accident forgiveness. However, it doesn’t have any unique add-on coverages.
USAA also provides five discount opportunities to help military drivers save on auto insurance. These include bundling, multiple car, good student, safe driving and defensive driving. The insurer offers discounts for cars three years or younger and for vehicles parked on base.
Methodology
MoneyGeek ranked car insurance companies in Charlotte based on quotes from insurers and reviews from industry experts, including J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC). We used the following weights for each evaluation category to determine the best car insurance in Charlotte for various driver profiles:
- Affordability (70%): MoneyGeek compared quotes from Charlotte insurers to determine which were the most affordable. The provider with the lowest rate in the city scored a perfect five out of five.
- Customer and claims satisfaction (20%): We used J.D. Power survey results to determine customer and claims satisfaction and weighted each category by 10%.
- Financial stability (10%): MoneyGeek used AM Best ratings to assess an insurance company's financial stability.
To determine each insurance company's affordability score, MoneyGeek examined numerous driver profiles, considering driving record, age and coverage levels. We sorted the results by driver profile and matched each to the insurance companies that best met their needs. For example, to find the best insurance for young drivers, MoneyGeek used a sample profile of an 18-year-old male with a clean driving record.
MoneyGeek used a full coverage policy with the following limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability.
- Comprehensive and collision coverage with a $1,000 deductible
For more details on MoneyGeek's car insurance methodology, see our data gathering, comparison and scoring procedure.
About Mark Fitzpatrick
