Car insurance in Greensboro costs an average of $797 per year, which is cheaper than the state average. The cheapest insurer is Nationwide, at an average of $568 annually, but MoneyGeek also analyzed the cheapest companies based on different driver profiles and coverage levels. For drivers looking to balance affordability and quality, MoneyGeek ranked the best insurance companies in Greensboro.
Compare the Cheapest Car Insurance Quotes in Greensboro, NC
The Cheapest and Best Car Insurance in Greensboro
The Cheapest Car Insurance Companies in Greensboro
In Greensboro, the insurers with the cheapest average rates for a full coverage car insurance policy are:
- Nationwide: $568 per year
- State Farm: $588 per year
Nationwide offers the cheapest annual premium for Greensboro drivers, with an average annual rate of $568. In comparison, MetLife has a yearly average premium of $1,045, which is 84.1% more expensive than Nationwide’s rate.
For this analysis, MoneyGeek collected average insurance rates in Greensboro based on a sample 40-year-old male driver profile with a full coverage policy that includes both liability and comprehensive and collision coverage.
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Average Cost of Car Insurance in Greensboro
Car insurance in Greensboro is slightly cheaper than the average rate for the state of North Carolina. Rates in Greensboro average $797 per year, which is 5.2% lower than the state average, while the average national annual premium is $1,424. These figures reveal that you can get affordable car insurance quotes in Greensboro — around 44% cheaper than in other parts of the country.
Of course, not all auto coverage policies are the same. Car insurance premiums will vary from person to person, depending on the needs and risk factors of the individual. It's important for drivers to learn more about how car insurance rates are calculated.
The Best Car Insurance Companies in Greensboro
For Greensboro drivers looking to strike a balance between affordability and quality service, MoneyGeek ranked the best insurance companies in the city. According to MoneyGeek’s research, the best car insurance providers in Greensboro are:
- USAA: MoneyGeek score 95 out of 100 (only for current and former military)
- Erie: MoneyGeek score 93 out of 100
To calculate these final scores out of 100, MoneyGeek considered several factors, including J.D. Power user satisfaction, affordability and financial stability ratings.
Personalized Quotes to Get You the Cheapest Car Insurance in Greensboro
Every individual has different needs for auto coverage, and that’s certainly true for car insurance in Greensboro. Your actual premium can be higher or lower than the average rates charged by an insurer. The more high-risk you are, the more you’ll pay. Your driving history, driving experience, age, location and more all have significant effects on your premiums.
It is necessary that you get your personalized car insurance quotes in Greensboro on a regular basis. Frequent assessment of your profile can help you identify discounts or other promos you may qualify for. It can also help you determine what type of car insurance you should get.
Shopping around for car insurance in Greensboro could save you $229, which is enough to buy:
Cheapest Car Insurance in Greensboro by Coverage Amount
In Greensboro and elsewhere, the coverage level you choose plays a big role in determining your rates. For example, a state minimum liability policy in Greensboro comes at an average cost of $407 per year, while a full coverage policy with higher liability limits costs an average of $797. That is a $390 difference.
North Carolina Minimum Liability Requirements
- 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.
If you choose a Nationwide car insurance policy that offers only state minimum liability coverage, you can expect to pay around $278 per year. Nationwide insurance with 100/300/100 full coverage will cost you an average of $568. The difference between 50/100/50 liability-only and 50/100/50 full-coverage plans is around $226 with Nationwide or around $181 with State Farm.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- 4.North Carolina Farm Bureau$376$420
- Company50 / 100 / 50per year100 / 300 / 100per year
- 4.North Carolina Farm Bureau$651$722
Cheapest Car Insurance in Greensboro if You Have Driving Violations
How you drive significantly affects your car insurance premiums. For State Farm, a DUI can increase your annual premium by around $1,708 or with a speeding ticket by about $284. For Progressive Insurance, a no-violation average rate of $1,036 can increase to around $1,423 if you have an at-fault accident on your record, and a DUI can make your premium even more expensive at around $3,965.
Bad driving habits can make your car insurance more expensive. Drive safely and responsibly so that you avoid incurring additional charges on your car insurance premium.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
- 3.North Carolina Farm Bureau$1,039$1,039$2,682
Average Cost of Car Insurance by Postal Code
Where you live can also increase or decrease your insurance premium. Areas with high theft and accident rates are considered as high-risk and those living here could have higher car insurance premiums.
The cheapest ZIP code for auto coverage in Greensboro is 27410, with an average annual premium of $706. The most expensive ZIP code for car insurance is 27407, where the average annual premium is around $849, for an average difference of $143.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Greensboro
In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of car thefts also contribute to car insurance rates in Greensboro. How Greensboro ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Greensboro 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.
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