Compare the Cheapest Car Insurance Quotes in Charlotte, NC

Charlotte's annual average rate for auto insurance is $939, more expensive than the average in North Carolina. The cheapest company is Nationwide, with an average price of $647 per year. MoneyGeek evaluated the cheapest companies by coverage level and type of driver. Additionally, MoneyGeek recommended the best companies based on quality and cost.

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Last Updated: 5/16/2022
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On average, Nationwide offers the cheapest car insurance in Charlotte at $325 yearly for a state minimum policy and $647 annually for full coverage. At roughly $934 yearly, Nationwide is also the cheapest insurer for drivers with speeding tickets. MoneyGeek’s top pick for the best insurer is Erie since it balances service and affordability.

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The Cheapest and Best Car Insurance in Charlotte

The Cheapest Car Insurance Companies in Charlotte

A full coverage car insurance policy provides both comprehensive and collision coverage, but it costs more than liability insurance.

On average, the two insurers offering the lowest full coverage car insurance rates in Charlotte are:

  • Nationwide: $647 per year
  • Erie: $781 per year

The cheapest car insurance in Charlotte is from Nationwide. Its average annual cost of $647 is almost half of what Metlife policyholders pay per year, at $1,213. The costs for both carriers are based on a full coverage policy. However, your rates may change depending on your coverage level and driving record.

Cheapest Car Insurance in Charlotte
Full Coverage 100/300/100
  • Company
    100/300/100per year
  • 1.
    Nationwide
    $647
  • 2.
    Erie
    $781
  • 3.
    State Farm
    $799
  • 4.
    North Carolina Farm Bureau
    $815
  • 5.
    GEICO
    $882
  • 6.
    Travelers
    $965
  • 7.
    Allstate
    $1,143
  • 8.
    Progressive
    $1,208
  • 9.
    MetLife
    $1,213

For this study, MoneyGeek used a 40-year-old male driver with a full coverage car insurance policy whose limits can be found in our methodology.

When purchasing full coverage car insurance, you will pay higher premiums than liability only car insurance because a full coverage policy has the following two additional types of coverage:

  • Collision Insurance: Covers the cost of damage to your car if you collide with a stationary object or another vehicle
  • Comprehensive Insurance: Covers the costs associated with non-collision damage to your car

If you have an older vehicle, liability-only or state minimum car insurance may be the best alternative since a full coverage car insurance policy may cost more than the worth of your car.

Compare Car Insurance Rates in Charlotte

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Cheapest Car Insurance in Charlotte for Minimum Coverage

On average, the most affordable insurers for minimum coverage in Charlotte are:

  • Nationwide: $325 per year
  • Erie: $427 per year

Metlife policyholders pay the highest rates for this coverage, at an average of $643 per year. This is almost double what drivers with a Nationwide policy pay per year.

While the minimum car insurance coverage is the cheapest in the state, it features lower liability coverage limits. You may need to purchase additional coverage since it does not include comprehensive and collision insurance. You can compare rates for higher liability limits using the table below.

Cheapest Minimum Liability Car Insurance in Charlotte
State Minimum

Charlotte’s minimum car insurance coverage provides the least protection as it only includes liability coverage plus uninsured motorist coverage. This explains why it’s also the cheapest option. However, in case of an accident, you may need to pay more out of pocket. For instance, let's say you get involved in an at-fault accident. If the third-party driver’s injuries cost $40,000 to treat and you only have $30,000 in coverage, you will have to pay $10,000 to cover the difference.

North Carolina Minimum Liability Requirements

  • Item
    Description
  • Bodily Injury and Property Damage
    $30,000 per person, $60,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
  • Uninsured Motorist
    $30,000 per person, $60,000 per incident and $25,000 for property damage. The minimum coverage may not be enough if you're in a serious accident.

Cheapest Car Insurance in Charlotte if You Have Driving Violations

In Charlotte, car insurance rates vary depending on your driving record. If you have a severe violation like a DUI, speeding ticket or at-fault accident, your premiums could be higher.

On average, the cheapest car insurance in Charlotte for drivers with violations is from:

  • Cheapest after a ticket: Nationwide, $934 per year
  • Cheapest after an at-fault accident: Nationwide, $1,126 per year
  • Cheapest after a DUI: Nationwide, $2,414 per year

By improving your driving record over time, you can lower your car insurance premiums significantly. You may also find the best rates for drivers with at-fault accidents or speeding tickets by comparing prices between providers.

Cheapest Car Insurance in Charlotte With a Violation
Speeding Ticket

Average Cost of Car Insurance in Charlotte

Charlotte$939
NC$841
U.S.$1,424

The annual car insurance rate in Charlotte is $939 on average, which is about 11.7% more expensive than the state’s $841 average annual premium. However, when you compare it with the national average of $1,424 per year, car insurance premiums in Charlotte are around 34% cheaper than elsewhere in the country.

Personalized Quotes to Get You the Cheapest Car Insurance in Charlotte

How expensive your premium will be depends on a lot of factors, including your marital status, age and driving history. For that reason, you must get a personalized insurance quote so that you get the most accurate rate for you. Additionally, when you get a personalized quote as your situation changes, you may enjoy discounts and rebates.

Compare Car Insurance Rates in Charlotte

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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The Best Car Insurance Companies in Charlotte

Charlotte’s best car insurance companies, as recommended by MoneyGeek, balance affordable cost and quality of service.

From the findings, the top two insurers in the city are:

  • Erie: MoneyGeek score of 93 out of 100
  • Auto-owners Insurance Company: MoneyGeek score of 90 out of 100

USAA had the highest MoneyGeek score, at 95 out of 100. However, the company only serves military members and their families. MoneyGeek considered various factors when determining the final scores of each company, including financial stability, user satisfaction and affordability scores as well as information from J.D. Power and other third-party institutions.


1
USAA
Score:95

4/5

Affordability

5/5

Claims Ratings

4/5

User Satisfaction

A++

Financial Stability

2
Erie
Score:92.5

4/5

Affordability

5/5

Claims Ratings

4/5

User Satisfaction

A+

Financial Stability

3
Auto-Owners Insurance Co
Score:90

4/5

Affordability

3/5

Claims Ratings

4/5

User Satisfaction

A++

Financial Stability

4
North Carolina Farm Bureau
Score:87.5

4/5

Affordability

4/5

Claims Ratings

4/5

User Satisfaction

A

Financial Stability

5
GEICO
Score:85

3/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

6
State Farm
Score:82.5

3/5

Affordability

3/5

Claims Ratings

4/5

User Satisfaction

A

Financial Stability

7
Nationwide
Score:80

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

8
Travelers
Score:80

2/5

Affordability

3/5

Claims Ratings

2/5

User Satisfaction

A++

Financial Stability

9
MetLife
Score:80

3/5

Affordability

3/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

10
Safeco
Score:77.5

3/5

Affordability

2/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

11
Progressive
Score:77.5

3/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

12
Allstate
Score:75

2/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A+

Financial Stability

13
Liberty Mutual
Score:75

2/5

Affordability

3/5

Claims Ratings

2/5

User Satisfaction

A

Financial Stability

14
National General
Score:72.5

3/5

Affordability

2/5

Claims Ratings

2/5

User Satisfaction

A-

Financial Stability

Average Cost of Car Insurance by Postal Code

In Charlotte, ZIP code is also a factor that can affect car insurance rates. ZIP code 28215 is the most expensive part of the city for auto coverage at an average of $1,094 a year. That’s around $302 more expensive than the cheapest ZIP code, which is 28269. This difference likely means that 28215 has more accidents, thefts or uninsured drivers compared to the rest of the ZIP codes in the city.

  • Zip Code
    State Minimumper year
  • 28269
    $792
  • 28277
    $843
  • 28227
    $885
  • 28216
    $1,083
  • 28215
    $1,094

Factors That Impact Insurance Costs in Charlotte

In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of fatal accidents also contribute to car insurance rates in Charlotte. How Charlotte ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.

accident2 icon
Most Accidents With Fatalities78th/300
handcuffs2 icon
Most Car Thefts87th/300
uninsured icon
Most Uninsured Motorists by State48th/50
insurance2 icon
Personal Injury Protection RequiredNo
rain icon
Most Annual Rainfall103rd/300
umbrella icon
Most Rainy Days112th/300

Methodology and Assumptions

MoneyGeek’s average premium rates for Charlotte are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.

About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.