The Cheapest Auto Insurance in Charlotte in 2024

The average car insurance premium in Charlotte is $76 per month for a basic liability policy and $139 for full coverage. Midvale offers the best rate for liability coverage, at $48, while Erie offers the cheapest full coverage, at $77.

North Carolina state law requires $30,000/$60,000 bodily injury liability, $25,000 property damage liability, and uninsured/underinsured motorist coverage. About 1 in 10 drivers are uninsured in North Carolina, according to the Insurance Information Institute (Triple-I), so it’s important to have coverage that protects you across the state.

Let’s review the finer details of car insurance costs in the Queen City and get you covered for less.

Key Takeaways:

• The average cost for car insurance in Charlotte is $108 per month.
• Erie offers the cheapest rates on average in Charlotte, at $68 per month.
• Most Charlotte drivers likely need more coverage than state-minimum insurance.

In This Article:

• Average Price for Car Insurance in Charlotte
• Cheapest Charlotte Car Insurance Companies
• Best Charlotte Car Insurance Companies of 2024
• Charlotte Rate Breakdowns by Driver and Coverage Type
• North Carolina Auto Insurance Requirements
• Frequently Asked Questions

How Much Is Car Insurance in Charlotte?

Average rates in Charlotte are $108 per month, according to Compare.com data. But broad averages aren’t the best indicator of your actual costs. Rates vary depending on your age, driving history, credit score, relationship status, gender, and more.

Before we delve into personal factors, let’s review Charlotte’s cheapest car insurance companies.

Charlotte’s Cheapest Car Insurance Companies

While the average rate is $108 per month, you have several ways to get cheaper rates, including comparing quotes, gathering discounts, and finding the right company.

So, let’s start by reviewing the cheapest car insurance companies on average in Charlotte, North Carolina.

Erie offers the cheapest car insurance rates on average, at $65 per month, according to our research. But it’s not the only option for great low-cost coverage. Let’s review the best car insurance companies offering policies in Charlotte.

Top 3 Best Charlotte Insurance Companies of 2024

While there’s no universal “best” car insurance company, some regularly outperform competitors in terms of price, discounts, customer ratings, claims reviews, and coverage options.

Which company is best for you largely depends on how it treats drivers like you. With that in mind, let’s look at some of the best in Charlotte for a few common driving profiles.

Best overall value: Erie

• Average premium: $65 per month
• Compare.com rating: 4.75 out of 5

Pros:

• Lots of available coverage options and policy perks
• Low rates for diverse driver profiles
• Highly rated customer and claims service

Cons:

• No usage-based coverage or telematics programs available
• Can’t self-manage policy with app or website
• Higher-than-average number of customer complaints

Erie offers cheap car insurance coverage to a wide range of driving profiles — people of all ages and with the most common driving histories. You can also get premium auto insurance with Erie Auto Plus, which includes:

• Diminishing deductibles that decrease for every claim-free year
• Increased coverage limits for locksmith costs, personal items, and rental reimbursement
• Waived deductibles for certain claims
• Additional benefits, including a $10,000 death benefit

Best for discounts: Nationwide

• Average premium: $68 per month
• Compare.com rating: 4.70 out of 5

Pros:

• Lower-than-average rates
• Available telematics and usage-based insurance discounts
• Accident forgiveness and vanishing deductibles available

Cons:

• Below-average customer and claims satisfaction
• Quotes sometimes apply ineligible discounts
• Twice the average number of customer complaints

Nationwide offers affordable car insurance you can easily customize. You’ll also get an excellent mobile app, helpful local agents, and rare coverage options like accident forgiveness, total loss deductible waiver, vanishing deductibles, and roadside assistance.

Nationwide offers nine high-value discounts and the On Your Side review, where you get a personalized review of your car insurance policy to ensure you have adequate coverage and all the discounts you’re eligible for.

Best telematics program: GEICO

• Average premium: $74 per month
• Compare.com rating: 4.65 out of 5

Pros:

• Great website and mobile app
• Low rates for many driving profiles
• Dozens of available insurance products with bundling discounts

Cons:

• Gap coverage and limited rideshare coverage not available
• Fewer discounts than other large insurers
• Lower-than-average customer and claims satisfaction

With a 10% discount for signing up for its telematics program, DriveEasy, and a 25% maximum discount based on driving performance, GEICO is a great option for drivers who want to save money while practicing safe driving.

GEICO offers dozens of additional perks, including 24/7 customer service. It also provides online and mobile tools for easy policy management, claims, and quotes, serving many drivers.

Cheapest Company for Liability Insurance: Midvale Home & Auto

Coverage levels affect the cost of car insurance, with state minimum liability-only policies generally costing less than full-coverage policies. Average liability premiums are $76 per month in Charlotte, but several companies offer cheaper premiums. The cheapest companies for liability coverage are listed in the table below.

Midvale offers the cheapest liability policies overall, at $48 per month, according to our research. But many Charlotte drivers need more than state-minimum coverage, so let’s look at cheap rates for full-coverage car insurance.

Cheapest Company for Full-Coverage Insurance: Erie

Full-coverage car insurance includes liability coverage and other state-required options, plus comprehensive and collision coverage. While average full-coverage rates are $139 per month in Charlotte, you can likely find cheaper rates with the companies listed in the table below.

Our research found that Erie offers the cheapest full-coverage insurance on average for Charlotte drivers, at $77 per month. But it’s not your only option, so be sure to compare personalized car insurance quotes.

Next, let’s see how other factors influence rates.

Compare Charlotte Auto Insurance Rates by Driving Record

Your driving record greatly affects your car insurance rates, indicating your likelihood of making a claim. Let’s take a look at how driving records affect rates in Charlotte.

Drivers with a DUI pay the most, while drivers with a clean record pay significantly lower rates than all other drivers.

Let’s take a closer look.

Cheapest car insurance in Charlotte after a ticket: Erie

A single speeding ticket causes rates to rise by 19% on average, according to Compare.com data. Erie offers the cheapest car insurance in Charlotte for drivers with a speeding ticket at just $116 per month — significantly less than the city average.

Other ways to save after a speeding ticket include leveraging discounts, raising deductibles, and cutting unnecessary coverage.

Cheapest car insurance in Charlotte after an accident: Erie

After an at-fault car accident, you should expect your rates to go up by 24% on average, according to data from Compare.com. But some companies offer more affordable coverage. Erie has the cheapest rates in Charlotte after an accident, with an average premium of $120 per month, according to our research.

You can also save by enrolling in a telematics program, completing a defensive driver class, and keeping a clean record going forward.

Cheapest car insurance in Charlotte after a DUI: Erie

DUIs have one of the largest effects on car insurance rates, inflicting 47% higher rates on average, according to Compare.com data. But you can find lower rates by working with a company offering cheaper DUI premiums.

In Charlotte, Erie offers the cheapest average rates for drivers with a DUI, at $133 per month. You can lower rates by avoiding tickets, comparing quotes, or swapping to a cheaper car to insure if affordable coverage is especially hard to find.

Compare Charlotte Auto Insurance Rates by Age

Your age has one of the most significant effects on car insurance costs, as younger drivers (and those over 80) are involved in more car crashes and more deadly crashes than drivers of other age groups, according to research from the AAA Foundation.

Here’s how age affects rates in Charlotte.

Next, let’s delve more deeply into the cheapest options for teen and senior drivers.

Cheapest car insurance for Charlotte teens: Erie

Teen drivers pay the highest rates overall because they’re involved in more car accidents than drivers of other age groups, according to the Insurance Institute for Highway Safety (IIHS). That means they’re more likely to cause an at-fault claim.

The cheapest car insurance company for Charlotte’s teen drivers in Erie, with average rates of $121 per month, according to Compare.com data. Teens can also look into the good student and símilar discounts.

Cheapest car insurance for Charlotte seniors: Erie

You typically earn the lowest average rates around the time you hit retirement age. That’s because senior drivers cause the fewest car accidents (according to the AAA Foundation for Traffic Safety) and drive less than drivers of other age groups (according to the IIHS).

In Charlotte, seniors pay the least with Erie, at just $64 per month, according to Compare.com data. You can also save even more with senior discounts, low-mileage discounts, or pay-per-mile car insurance.

North Carolina Auto Insurance Requirements

North Carolina requires all drivers to purchase at least the following coverages:

• $30,000 of bodily injury liability per person
• $60,000 of bodily injury liability per accident
• $25,000 of property damage liability
• Uninsured/underinsured motorist coverage equal to liability limits

Though state law doesn’t mandate them, your lender or leasing company may also require the following coverages if you lease or finance your car:

• Comprehensive coverage for non-collision damage to your vehicle
• Collision coverage for at-fault collision damage to your car
• Gap insurance for the difference between your remaining loan or lease balance and your car’s actual cash value (ACV) if you total your car

You should also consider raising your coverage limits and adding optional coverage, such as MedPay, to your insurance policy.

How to Get Cheaper Car Insurance in Charlotte

You can use several strategies to find cheaper car insurance without sacrificing essential coverage. Here are our top tips:

1. Maintain a clean driving record: Avoid traffic violations and accidents to keep rates low.
2. Increase your deductible: A higher deductible lowers your monthly premium, but make sure you can afford the extra cost if you file a claim.
3. Bundle insurance policies: Many insurers offer discounts if you bundle multiple policies, such as auto and home insurance.
4. Take advantage of discounts: Choose an insurance company that offers you the best discounts (ideally on already cheap coverage).
5. Improve your credit score: Better credit means lower insurance rates, as insurers associate higher credit scores with less risk.
6. Compare quotes from multiple companies: Shopping around can help you find the best coverage at the best price.

Charlotte Auto Insurance FAQs

It’s natural to have questions about car insurance coverage no matter where you live. Here are some of the most common questions from Charlotte drivers.

Which company has the cheapest car insurance in Charlotte?

Erie offers the cheapest car insurance on average in Charlotte, according to Compare.com data, with rates at $65 per month. But comparing quotes is the best way to find the cheapest rate for you.

What’s the average cost of car insurance in Charlotte?

The average cost of car insurance in Charlotte is $108 per month, according to our research. Some drivers find lower rates, while others pay more depending on their driving profile and insurer.

How much car insurance coverage does North Carolina require?

The state of North Carolina requires 30/60/25 in liability coverage, plus uninsured/underinsured motorist protection equal to your liability limits. That means you need to have at least $30,000 in bodily injury (BI) liability coverage per person, $60,000 in BI coverage per accident, and $25,000 in property damage liability coverage.

You may need additional coverage for a financed or leased vehicle.

What happens if you get caught driving without insurance in Charlotte?

Driving without insurance in Charlotte carries a $50 penalty plus a $50 reinstatement fee for the first offense, or a $100 penalty and a $150 reinstatement fee for subsequent offenses.

Data Methodology:

Data scientists at Compare.com analyzed more than 50 million real-time auto insurance quotes from more than 75 partner insurers in order to compile the rates and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.

All the rates listed in this article have been collected from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide readers with insights into how auto insurance companies determine their premiums.

Sources:

1. Insurance Information Institute, “Facts + Statistics: Uninsured motorists,” accessed June 4, 2024.
2. J.D. Power, “2023 U.S. Auto Insurance Study,” accessed June 4, 2024.
3. J.D. Power, “2023 U.S. Auto Claims Satisfaction Study,” accessed June 4, 2024.
4. National Association of Insurance Commissioners, “Nationwide Gen Ins Co. National Complaint Index Report,” accessed June 4, 2024.
5. AAA Foundation, “Rates of Motor Vehicle Crashes, Injuries and Deaths in Relation to Driver Age, United States, 2014-2015,” accessed June 4, 2024.
6. Insurance Institute for Highway Safety, “Fatality Facts 2021,” accessed June 4, 2024.
7. North Carolina DMV, “Insurance Requirements,” accessed June 4, 2024.