The average cost of car insurance in Winston-Salem is $718 per year, which is about 14.7% less than the North Carolina state average. The cheapest insurer for the average driver is State Farm, but MoneyGeek also looked into the most affordable options across different coverage levels and driver profiles. For customers looking for a balance between affordability and quality service, MoneyGeek ranked the best companies in the city.
Compare the Cheapest Car Insurance Quotes in Winston-Salem, NC
The Cheapest and Best Car Insurance in Winston-Salem
The Cheapest Car Insurance Companies in Winston-Salem
The car insurance providers with the cheapest average rates for a full coverage policy in Winston-Salem are:
- State Farm: $499 per year
- Nationwide: $530 per year
For this study, MoneyGeek gathered average car insurance rates in Winston-Salem using a sample driver profile: a 40-year-old male driver with a full coverage policy. This includes both liability insurance and comprehensive and collision coverage.
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Average Cost of Car Insurance in Winston-Salem
On average, car insurance in Winston-Salem costs $718 per year, which is lower than the average annual cost of car insurance in both North Carolina and the United States. Policyholders in Winston-Salem pay about 14.7% less than the state average car insurance rates and 49.6% less than the national average.
The Best Car Insurance Companies in Winston-Salem
If you are a driver in Winston-Salem looking for a balance between affordable costs and quality service, MoneyGeek ranked the best insurance providers in the city. According to MoneyGeek’s study, the best options for most drivers are:
- Erie: MoneyGeek score 93 out of 100
- Auto-Owners Insurance Co: MoneyGeek score 90 out of 100
USAA received the highest score in Winston-Salem by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
To determine these scores, MoneyGeek took a look at various metrics, including J.D. Power‘s user satisfaction, financial stability and affordability ratings.
Personalized Quotes to Get You the Cheapest Car Insurance in Winston-Salem
Getting a personalized car insurance quote in Winston-Salem is highly recommended, as different factors are associated with varying levels of risk. Some of these factors include your age, driving record, coverage level, credit score and make and model of your vehicle, in addition to your location. For instance, a car insurance policy from Erie costs an average of $1,286 for an 18-year-old male driver living in Winston-Salem — this is more than twice as costly as similar coverage from the same company for a 40-year-old male driver in the city.
To check if you qualify for company-specific promotions or discounts, you need to regularly request a personalized quote from at least three car insurance companies in Winston-Salem.
Shopping around for car insurance in Winston-Salem could save you $219, which is enough to buy:
Cheapest Car Insurance in Winston-Salem by Coverage Amount
In Winston-Salem and elsewhere, your car insurance prices are greatly influenced by the coverage level you choose to pay for. For example, a state minimum liability policy costs an average of $361 per year, while a full coverage policy with higher liability limits costs $718 on average. That is a difference of $357.
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.
State Farm offers both 50/100/50 liability-only and full-coverage plans. For most drivers, State Farm’s 50/100/50 liability-only plan costs an average of $290. This level of liability coverage covers bodily injury expenses up to $50,000 per person, with maximum coverage of $100,000 per vehicle, together with $50,000 worth of property damage repair.
State Farm’s 50/100/50 full-coverage policy costs $151 more on average, but since it also covers your own expenses, the extra money might be worth it. To get the most accurate car insurance rates in Winston-Salem, it’s best that you request a personalized quote from at least three companies.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- 4.North Carolina Farm Bureau$325$363
- Company50 / 100 / 50per year100 / 300 / 100per year
- 4.North Carolina Farm Bureau$569$634
Cheapest Car Insurance in Winston-Salem if You Have Driving Violations
Paying a hefty fine is not the only penalty associated with having a violation on your driving record, as car insurance companies in Winston-Salem tend to give you higher rates if you have violations. For the average driver with a speeding ticket on their record, for example, GEICO offers an annual car insurance premium average of $1,222, which is about $459 more expensive than premiums paid by drivers with clean records.
Additionally, a Nationwide policy for a driver with a DUI on their record will cost $1,972 per year, on average, which is an extra $1,442 compared to drivers with no violations.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
- 3.North Carolina Farm Bureau$909$909$2,332
Average Cost of Car Insurance by Postal Code
The number of car-related incidents varies depending on where you live, so your ZIP code can often make a major impact on your premium cost. However, that’s not really the case in Winston-Salem. Compared to policyholders living in ZIP code 27105, policyholders living in ZIP code 27107 pay an average of $41 more for auto coverage.
- Zip CodeState Minimumper year
Factors That Impact Insurance Costs in Winston-Salem
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 Winston-Salem. How Winston-Salem 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 Winston-Salem 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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