Establishing which company offers the best insurance rates for 20 year old guys may require more work in order to find the best policy. Each auto insurer used slightly different criteria to determine rates, so to begin we’ll rank the lowest cost insurance companies in Greensboro.
We do need to point out that North Carolina insurance rates are impacted by many things that may substantially change the cost of coverage. Getting older, increasing liability limits, or getting a ticket for careless driving can trigger rate changes that can now make some companies cheaper than competitors.
Cheapest Insurance Rates for Men Age 20
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $639 |
| 2 | Utica National | $655 |
| 3 | Liberty Mutual | $707 |
| 4 | GEICO | $720 |
| 5 | NC Farm Bureau | $737 |
| 6 | Penn National | $739 |
| 7 | State Farm | $749 |
| 8 | Titan | $759 |
| 9 | Auto-Owners | $844 |
| 10 | National General | $908 |
| 11 | Erie | $922 |
| 12 | Allied | $928 |
| 13 | Travelers | $936 |
| 14 | Peerless | $1,002 |
| 15 | Unitrin | $1,002 |
| 16 | MetLife | $1,007 |
| 17 | Nationwide | $1,041 |
| 18 | Safeco | $1,066 |
| 19 | Encompass | $1,073 |
| 20 | Allstate | $1,097 |
| Quote Your Rates Go | ||
Progressive generally has some of the most affordable car insurance rates in Greensboro at around $639 a year. This is $233 less than the average premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, GEICO, and NC Farm Bureau also qualify as some of the most economical Greensboro, NC auto insurance companies.
As shown in the rates above, if you buy coverage from NC Farm Bureau and switched to Utica National, you could realize a yearly price reduction of roughly $82. Policyholders with Penn National may save as much as $84 a year, and State Farm customers might cut rates by $94 a year.
To see how much you can save, click here to start a quote or visit several of the following companies.
Remember that these policy prices are averaged for all types of insureds and vehicles and do not factor in an exact zip code location for 20 year old guys. So the car insurance company that has the cheapest rates for you may not even be in the top 20 companies shown above. That underscores the importance of why you need to compare rates from as many companies as possible using your own driver information and specific vehicle type.
One of the more important considerations that help determine the price you pay for insurance is where your residence is in Greensboro. Cities with larger populations tend to have higher auto insurance costs, whereas areas with lower crime rates and fewer weather claims have the benefit of cheaper auto insurance prices.
The table below sorts the most expensive cities in North Carolina for 20 year old guys to purchase car insurance in. Greensboro comes in at #5 with a yearly cost of $779 for car insurance, which is about $65 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Fayetteville | $905 |
| 2 | Jacksonville | $864 |
| 3 | Charlotte | $816 |
| 4 | Gastonia | $803 |
| 5 | Greensboro | $779 |
| 6 | Durham | $765 |
| 7 | Huntersville | $764 |
| 8 | Wilmington | $758 |
| 9 | Cary | $749 |
| 10 | Apex | $747 |
| 11 | Raleigh | $744 |
| 12 | Rocky Mount | $740 |
| 13 | Hickory | $740 |
| 14 | Goldsboro | $735 |
| 15 | Wilson | $732 |
| 16 | High Point | $731 |
| 17 | Indian Trail | $731 |
| 18 | Greenville | $730 |
| 19 | Chapel Hill | $717 |
| 20 | Salisbury | $712 |
| Find the Best Rates Go | ||
Annual rates are approximated as the specific garaging location can revise coverage rates considerably.
Discounts on Greensboro auto insurance rates
Insurance providers that offer coverage for 20 year old guys may also provide policy discounts that may potentially lower prices by as much as 30% if you are eligible. A few of the larger companies and some of their more popular discounts can be found below.
- GEICO may include discounts for military active duty, multi-vehicle, multi-policy, air bags, five-year accident-free, anti-lock brakes, and driver training.
- Auto-Owners Insurance discounts include company car, teen driver, safe vehicle, group or association, anti-lock brakes, good student, and paperless.
- American Family has discounts for bundled insurance, air bags, good driver, multi-vehicle, accident-free, and Steer into Savings.
- Esurance offers premium reductions for claim free, multi-car, homeowner, Switch & Save, and online shopper.
- Progressive policyholders can earn discounts including online signing, multi-vehicle, multi-policy, homeowner, and good student.
- State Farm offers discounts for multiple autos, good student, good driver, passive restraint, student away at school, accident-free, and anti-theft.
- AAA offers discounts including good student, anti-theft, AAA membership discount, multi-car, education and occupation, good driver, and multi-policy.
The information below illustrates the comparison of car insurance costs with and without discounts applied to the premium. The rates are based on a female driver, no accidents, no driving violations, North Carolina state minimum liability limits, full coverage, and $500 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with passive restraint, vehicle safety, paperless filing, paid-in-full, continuous coverage, and good student discounts applied. When discounts are applied, theaverage yearly reduction on insurance for 20 year old guys is 21% or $258.
The diagram below demonstrates how deductibles can raise or lower insurance costs when getting quotes for cheap insurance for 20 year old guys. Data assumes a married female driver, comp and collision included, and no discounts are taken into consideration.
A 30-year-old driver could cut expenses by $196 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $298 by switching to a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could potentially save $422 or even more just by choosing higher deductibles when buying full coverage.
If you make the decision to raise deductibles, it will be important to have enough spare savings to be able to cover the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
How to find low-cost auto insurance for 20 year old guys
Below you’ll find some thrifty solutions that can help Greensboro drivers get low-cost car insurance.
- Get cheaper liability coverage by choosing a safer vehicle
- Prevent price hikes by avoiding at-fault accidents
- Violations and traffic tickets increase rates
- Increase your policy deductibles
- Better credit scores save money
- Shop around for cheaper prices
That last idea is certainly vital, as was affirmed in this article. Prices charged by companies in Greensboro change frequently, so don’t be hesitant to buy from a different company if a lower-cost policy is available. Having brand loyalty is commendable, but it isn’t a good idea if that loyalty results in overpaying a lot of money. In just a few minutes you could compare prices and find cheaper car insurance for 20 year old guys.