North Carolina Auto Insurance

The Tar Heel State has fairly cheap car insurance rates as premiums are well-below the national average for both state required minimum and full coverage policies. It has one of the lowest automobile ownership in the country with 840 cars per capita. The ratio of uninsured drivers at 7.4% is one of the lowest in the US as well. With 60 designated scenic byways, North Carolina features an array of picturesque routes, with the renowned Blue Ridge Parkway as a standout. Adequate vehicle insurance coverage can grant you peace of mind while enjoying these scenic drives.

North Carolina Automobile Insurance Laws

Minimum Liability requirements are;

  • $30,000 for bodily injury per person.
  • $60,000 total for bodily injury per accident.
  • $25,000 for property damage.

Pictures from North Carolina

North Carolinians are also required to carry Uninsured Motorist Coverage (UM), which pays for medical expenses resulting from an accident caused by an uninsured driver, as well as damage to your vehicle. You can purchase higher UM limits than your bodily injury liability limits. The minimum limits are;

  • UM bodily injury: $30,000 per person, $60,000 per accident
  • UM property damage: $25,000

North Carolina doesn’t allow gender to be used in vehicle insurance pricing. So, there isn’t a premium difference between male and female drivers in this state.

North Carolina boasts one of the highest minimum Liability requirements in the United States. This serves as a strong illustration that opting for higher coverage than the minimum mandated doesn’t necessarily result in substantially higher costs. Typically, car insurance policies provide options for increased limits, and many drivers choose to invest in more comfortable Liability coverage limits rather than sticking to the bare minimum.

The state has some of the strictest speeding laws in the US, with fines as high as $1,000 for first-time offenders. So, mind your speed or pay a steep price.

Vehicle Insurance Cost In North Carolina

The minimum state required coverage costs $432 on average and it is $190 less than the US average. Full coverage car insurance costs $1,446 on average and again this is $568 less than the national average.

Although buying a full coverage policy would cost you 3.3 times more on average than going for the minimum coverage required, it comes with Collision and Comprehensive as well as Liability covers so it provides a good level of protection for yourself, your automobile and other road users you may cause harm in an accident. For example, NC is one of the states with the highest hail damage loss in the country and Comprehensive coverage pays for hail damage to your automobile.

Affordable Car Insurers in North Carolina

Identifying the most affordable insurers marks the initial step toward securing cost-efficient coverage, as prices can significantly vary among them. The robust competition within North Carolina’s auto insurance market can yield savings through diligent comparison and selection of the most competitive provider. Hence, it’s advisable to obtain quotes from multiple companies to ensure you receive excellent value. The following vehicle insurance companies are recognized for their affordability and serve as a favorable starting point in this pursuit.

  • Erie
  • NC Farm Bureau
  • Nationwide
  • State Farm
  • National General

There may also be other companies that are doing well recently in the area that it is advisable to check prices with a few more carriers.

The average car insurance rates in Tar Heel state don’t show huge variations across different cities and towns. There doesn’t appear to be a city with seriously high automobile insurance rates in comparison to the median figure. Motorists living in the most expensive and cheapest cities may only pay moderately higher or lower premiums than the state averages. The cities with higher car insurance rates are Charlotte (20% higher) and Fayetteville (17% higher).

North Carolina Car Insurance and Driving Facts

  1. Forbes reports that North Carolina experiences the highest vehicle insurance premium surge in the country, escalating by 266% after a DUI conviction is recorded on a driving history.
  2. In this state, if your auto insurance coverage lapses, your insurance company is obligated to inform the DMV. You must then present valid proof of required car insurance within 10 days to the DMV. Failing to comply could lead to license plate revocation and imposition of fines and fees.
  3. Experian reveals that the average credit score for North Carolinians is 707, slightly below the national average. Most auto insurance companies factor your credit score into premium calculations. However, Forbes notes that having poor credit results in an average premium increase of 32%, which is one of the lowest surges nationwide due to bad credit.
  4. According to J.D. Power, the most popular car in NC is Toyota RAV4. Other popular vehicles include Honda Accord and Ford F-150.
  5. According to The Hartford, rural roads in North Carolina are more dangerous, with 62 percent of crash deaths occurring on rural byways compared with just 37 percent on urban routes. Be extra careful when you take one of many scenic routes in this state. Mind your speed while enjoying the view.

You may pay a little more if you have a bad driving history, recent claims and terrible credit score. So, use these figures as guidance and try to get affordable vehicle insurance no matter how adverse the situation is. You should at least get 5 quotes and 10 with a bad driving record if you really want to find good coverage at an affordable price.