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You can quickly get a ballpark figure from MoneyGeek’s car insurance calculator for North Carolina when you’re looking for an idea of how insurance costs are in the state.
MoneyGeek analyzed how car insurance quotes in North Carolina are calculated so you can better determine the factors that will most affect your rates.
North Carolina Car Insurance Calculator: How it Gets You an Instant, Free Estimate
It might take you 10 to 15 minutes to get a personalized auto insurance quote in North Carolina since you need to provide details about yourself, your driving history and the car you’re insuring. MoneyGeek’s car insurance calculator can give you an immediate estimate based on your age, driving record, vehicle type and coverage level.
In North Carolina, the factors that most significantly affect the cost of car insurance are your driving record, adding a teen driver to your policy and the coverage levels you select. Keep in mind that the most important factor for you can change, depending on your individual profile.
Although the cheapest auto insurance provider in North Carolina depends on several factors, MoneyGeek’s calculator can provide an estimate. Our default 40-year-old driver pays an average of $336 per year through Nationwide, the cheapest, widely-available company in the state.
Price isn’t everything when it comes to your car insurance. You’ll want to choose a provider that also offers great customer service and the coverages you’re looking for.
Our car insurance calculator can provide an idea of how much your auto insurance rates will be. You can also browse our list of sample drivers that have the cheapest car insurance in North Carolina.
MoneyGeek examined the average cost of car insurance in North Carolina, which can give you a better idea of your cost compared to drivers nationwide.
If you’re interested in factors other than cost only, MoneyGeek ranked the best auto insurance companies in North Carolina based on their balance of affordability and customer service quality.
How Car Insurance Premiums are Calculated in North Carolina
When calculating your premiums, car insurance companies in North Carolina consider various factors. The most important are your driving record, adding a teen driver to your policy and the coverage level you choose. Your driving record can multiply your insurance rates by as much as 4x.
How Much Driving Record Matters in Calculating Car Insurance in North Carolina
When calculating your premiums, auto insurance providers consider your driving record. Drivers with accidents, DUIs or speeding tickets are seen as high-risk and are more likely to pay more for their car insurance policies.
In North Carolina, the cost of your car insurance can multiply by 4x if you have a poor driving record.
How Much Adding a Teen Driver Matters in Calculating Car Insurance in North Carolina
You will also pay higher premiums if you add a teen driver to your car insurance policy in North Carolina. That’s because teen drivers are considered inexperienced and more likely to be involved in accidents.
Adding a teen driver to your policy can increase your rates by 3.2x.
How Much Coverage Level Matters in Calculating Car Insurance in North Carolina
The coverage level you select for your auto insurance policy affects your premium too. When calculating the cost of your insurance policy, insurers in North Carolina consider how many miles you drive per year, your deductible and your level of coverage.
The cheapest insurance you can buy is state minimum liability-only. The most expensive is full coverage with a $500 deductible and 100/300/100 liability. If you choose full coverage insurance, your rates can increase by 1.9x.
How Much Car Model Matters in Calculating Car Insurance in North Carolina
In North Carolina, the model of your car affects the cost of your car insurance. Some car models are more prone to theft or are more expensive to repair thus drivers may need to pay more for their car insurance.
Usually, SUVs are the cheapest cars to insure, while luxury sports cars are the most expensive. Drivers with high-value vehicles may pay 2x more for their premiums.
How Much Credit Score Matters in Calculating Car Insurance in North Carolina
You’re more likely to get affordable rates if you have a good credit score in North Carolina. Drivers with excellent credit scores and a clean driving record with no accidents will get cheaper premiums.
North Carolina drivers with excellent credit will get the most affordable rates and vice versa. Poor credit can multiply your premiums by 1.4x.
How to Calculate How Much Car Insurance You Need in North Carolina
The amount of insurance you purchase greatly affects the cost of your car insurance in North Carolina. Calculating how much you need will help you find an acceptable balance of price and protection.
North Carolina law requires drivers to have specific coverage for bodily injury liability, property damage liability and uninsured/underinsured motorist insurance. But depending on your situation, you should consider purchasing additional liability insurance and comprehensive and collision insurance.
Understand North Carolina car insurance requirements
You’ll be able to figure out how much car insurance you need by browsing the minimum car insurance requirements of North Carolina. The state minimum coverage of 30/60/25 only protects you for $30,000 per person for bodily injury up to a total of $60,000 of bodily injury liability per accident. You’re also required to have uninsured/underinsured motorist coverage.
While North Carolina doesn’t require comprehensive and collision insurance, having that coverage protects you from damages to your vehicle.
Consider Purchasing Additional Liability Insurance
North Carolina state minimums offer basic protection if you get into an accident. You may wish to consider whether you need liability insurance above that to help protect you against the costs of a major accident.
On average, the yearly cost of North Carolina minimum liability insurance is $423. If you increase your bodily injury liability to $300,000, your costs increase to an average of $536 per year.
Decide whether or not to buy comprehensive and collision insurance
You should also take a look at whether you need a full coverage policy, which offers comprehensive and collision insurance. Even though it isn't required by law in North Carolina, lenders might require full coverage if you’re leasing your car or financing its purchase.
It costs approximately $278 per year to add comprehensive and collision coverage with a $1,000 deductible to your car insurance policy in North Carolina. You may not need to incur this expense, however, if the replacement value of your car is very low.
Consider buying additional protection besides these core coverages
By law, North Carolina requires drivers to carry uninsured/underinsured motorist coverage, protecting you against the 7.4% of motorists in the state who are uninsured. That policy must have $30,000 coverage per person, $60,000 per accident and $25,000 per accident for property damage.
Personal injury protection (PIP) coverage is not a requirement in North Carolina. However, you can purchase medical payments insurance. Known as MedPay, it’s an add-on that covers your medical expenses in an accident regardless of fault.
Frequently Asked Questions About How Car Insurance is Calculated in North Carolina
MoneyGeek answers a few frequently asked questions about how car insurance is calculated in North Carolina. This may help you choose the policy that best fits your needs.
MoneyGeek partnered with Quadrant Data Services to get car insurance quotes from across North Carolina. Our data science team analyzed how personal factors impacted cost and incorporated our findings into our calculator to provide users with an accurate estimate of their expected yearly auto insurance costs. Read more about our methodology here.
About Mark Fitzpatrick