Cheapest and Best Car Insurance in Winston-Salem, NC (August 2024)

In Winston-Salem, North Carolina, the right insurance depends on what you value. State Farm offers both the cheapest minimum and full coverage car insurance. It is also the most affordable option for families with teens. North Carolina Farm Bureau provides the best overall value, balancing price and service, while Erie shines for customer service. Choose depending on personal coverage needs and preferences.

MoneyGeek found that State Farm is the cheapest option in Winston-Salem for minimum coverage car insurance. Get the cheapest car insurance and drive more economically with these providers:

• State Farm: $245 per year
• North Carolina Farm Bureau: $255 per year

Allstate offers the most expensive minimum coverage policy in Winston-Salem, with an average annual premium of $857. The $611 price gap between the cheapest and most expensive options underscores the importance of comparing car insurance rates to ensure you're getting the best deal possible.

In every corner of North Carolina, state law determines the basics for minimum car insurance coverage requirements. Drivers should at least have:

• $30,000 bodily injury per person
• $60,000 bodily injury per accident
• $25,000 property damage liability per accident
• $30,000 uninsured motorist bodily injury per person
• $60,000 uninsured motorist bodily injury per accident
• $25,000 uninsured/Underinsured property damage coverage

Let's say you're involved in an accident, and your policy covers the standard $30,000 for bodily injury per person. If the injured party's medical bills soar to $45,000, you will be responsible for the remaining $15,000 out of pocket. Similarly, if the entire accident racks up bodily injuries worth $80,000, and your coverage caps at $60,000, you will be liable for the difference. These minimums are the legal baseline — responsible driving includes ensuring you're covered for life's unexpected detours.

MoneyGeek found that State Farm offers the cheapest full coverage car insurance in Winston-Salem, providing budget-friendly rates for drivers seeking comprehensive protection.

• State Farm: $474 per year
• North Carolina Farm Bureau: $510 per year

Allstate has the most expensive full coverage policy in the city, at around $1,827 per year. Comparing rates is vital, as you could save $1,353 by choosing State Farm. Full coverage costs more because it includes additional protections like collision and comprehensive insurance, which cover a wider range of potential incidents than the minimum coverage.

Full coverage car insurance has enhanced liability limits. It also encompasses comprehensive and collision coverages.

• Collision Coverage: This is designed to cover the cost of any impacts your car endures, whether with another vehicle or a stationary object like a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Coverage: This covers vehicle damages resulting from incidents other than collisions, such as theft, vandalism, fires, extreme weather conditions or being hit by an animal like a deer.

When it comes to brand-new automobiles, opting for full coverage insurance is the prudent choice to protect your substantial financial outlay. However, for older vehicles, the additional cost of hundreds of dollars may not justify the extra cover. When deciding how much car insurance you need, it's a delicate balance: more extensive coverage equates to higher premiums, yet skimping on coverage could leave you vulnerable financially.

MoneyGeek found that State Farm is the cheapest option in Winston-Salem for drivers with various driving offenses. Here are the most affordable annual premiums for a full coverage policy:

• Speeding Ticket: State Farm ($687 per year)
• At-Fault Accident: State Farm ($629 per year)
• DUI: State Farm ($1,753 per year)

Allstate has the most expensive rates for those with DUIs and speeding tickets, costing around $7,577 and $2,688 per year, respectively. GEICO is the most costly option for drivers with an at-fault accident, with an average annual premium of $2,714. The difference between the cheapest rate after a speeding ticket and the most affordable after a DUI is $1,066, indicating how significantly the severity of offenses can affect car insurance rates.

In Winston-Salem and many other cities, insurance premiums escalate with the gravity of a driving infraction because insurers view more serious offenses as indicators of higher risk. A driver with a speeding ticket might see an average insurance cost of approximately $1,879 per year, while those with a DUI offense could face a substantial hike, averaging $4,680. The stark difference in rates underscores the critical importance for drivers with offenses to diligently compare insurance options, as it can lead to significant financial savings.

MoneyGeek found that State Farm offers the most affordable full coverage car insurance in Winston-Salem for families with teen drivers. For those seeking the cheapest car insurance for teens, here are the two most competitive providers:

• State Farm: $1,043 per year for female and male teens
• Nationwide: $1,374 per year for female and male teens

These rates apply to policies covering two parents and a teen. GEICO has the most expensive teen family policy, at $4,041 annually for female and male teens. The vast difference of $2,998 between State Farm and GEICO for adding a teen to the policy is a stark reminder of the importance of comparing insurance options, particularly since teens are considered higher-risk drivers.

In Winston-Salem and comparable cities, teenagers seeking car insurance face significantly higher premiums when purchasing individual policies than when they are included in a family plan. An individual policy costs a teenager around $2,965 per year, while being added to a family policy averages $2,323 — a substantial $642 difference. Insurers often charge higher rates for teens due to their inexperience, which statistically increases the risk of accidents. Additionally, it may prove challenging for teens to secure individual coverage given their limited credit history and the higher perceived risk they present to insurance providers. It's typically more economical and practical for teens to join a family policy.

MoneyGeek found that State Farm offers the cheapest car insurance for military backgrounds in Winston-Salem.

• State Farm: $474 per year
• North Carolina Farm Bureau: $510 per year

Although USAA is not included in this study, it is known for its competitive pricing and services designed specifically for active duty military members. However, USAA does business in North Carolina and is typically one of the more affordable insurers on a national level for those with military backgrounds.

Comparing car insurance rates in Winston-Salem can yield significant savings, though it demands time investment — typically around 15 minutes per insurer. Considering that thorough analysis requires reviewing at least three companies, this research could exceed an hour.

To expedite this process, utilize MoneyGeek's car insurance calculator, an efficient tool tailored to extract essential factors influencing Winston-Salem's car insurance costs. Users receive instantaneous rate estimates by entering data such as age, driving history, credit score and coverage preferences, streamlining the comparison process.

Selecting the best auto insurance in Winston-Salem hinges on individual preferences such as service quality, cost efficiency, coverage options and other personal considerations. MoneyGeek's evaluations, using distinct criteria for each category, highlight the following providers:

• Best overall: North Carolina Farm Bureau (MoneyGeek score 91 out of 100)
• Best for service: Erie (MoneyGeek score 85 out of 100)
• Best cheap: North Carolina Farm Bureau (MoneyGeek score 91 out of 100)

North Carolina Farm Bureau is the best option for overall value and cost-conscious buyers in Winston-Salem, excelling in top-tier service and affordability. Erie, acclaimed for its customer service, is the preferred choice for those prioritizing a stellar customer experience. When looking for a balanced option, the overall category showcases insurers that deliver both strong service and competitive pricing.

MoneyGeek found that North Carolina Farm Bureau offers the best car insurance in Winston-Salem.

• North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($510 per year)
• Erie: MoneyGeek score of 88 out of 100 ($601 per year)

North Carolina Farm Bureau stands out in Winston-Salem for its exceptional blend of customer satisfaction and affordability, which significantly contributes to its MoneyGeek score. Its high MoneyGeek score indicates a premier level of service and value, reflecting the insurer's commitment to providing a comprehensive full coverage policy that meets the needs and budgets of its customers.

MoneyGeek found that Erie is the best option in Winston-Salem for customers seeking top-tier car insurance based on customer service. This designation comes after considering general satisfaction, claims handling and the breadth of coverages offered, without focusing on pricing.

• Erie: MoneyGeek score of 85 out of 100 ($601 per year)
• North Carolina Farm Bureau: MoneyGeek score of 84 out of 100 ($510 per year)

Erie stands out because of its superior coverage options, which significantly influence its MoneyGeek score. The company's emphasis on comprehensive solutions and customer-oriented services makes it highly commendable in the insurance landscape of Winston-Salem.

MoneyGeek found that North Carolina Farm Bureau is the best option in Winston-Salem for consumers seeking affordable car insurance without sacrificing quality service and satisfaction.

• North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($255 per year)
• Erie: MoneyGeek score of 89 out of 100 ($288 per year)

North Carolina Farm Bureau stands out due to its superior affordability, with a high MoneyGeek score reflecting a balance of low-cost premiums and exceptional customer service for minimum coverage policies.

In Winston-Salem, North Carolina, the average annual cost for car insurance is $939. This amount is below the state's overall average of $1,051, indicating that residents in Winston-Salem benefit from slight cost savings when insuring their vehicles. North Carolina's state average is considerably lower than the national average of $1,781, affording North Carolinians a substantial markdown from the national figure.

While location plays a significant role in determining car insurance rates, other factors, such as age, driving history and vehicle type, also contribute to the final cost. Location impacts insurance premiums by influencing aspects such as accident rates, crime rates and traffic density — elements that insurers consider when calculating risk. Fayetteville has the most expensive premium at $1,308, whereas Durham enjoys the least expensive, at $914, demonstrating a notable difference even within North Carolina. The rates may be even more economical in less urbanized areas with decreased traffic density.