This article would sure be shorter if we could just give you the name of the single company that has the most affordable insurance in North Carolina. Regrettably, it’s not quite that easy, as there are a whole bunch of unknown elements like the performance level of your vehicle, how well you maintain your credit, and how experienced of a driver you are, that all influence how much you pay for auto insurance. We know insurance is not everyone’s favorite topic, but in this article we will cover the best ways to avoid overpriced car insurance and should give you a good start to your coverage search.
The vehicle model needing coverage is a significant factor when comparing affordable insurance for welfare recipients. Vehicles with lower acceleration and performance, an excellent safety record, or a positive history of liability claims will cost substantially less to insure than high performance models.
The next table presents coverage prices for a number of the more affordable automobiles to buy insurance for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 2WD | $1,047 |
| Ford Escape XLT 4WD | $1,150 |
| Ford Edge SEL AWD | $1,188 |
| Chevrolet Impala LT | $1,211 |
| Ford Fusion S 4-Dr Sedan | $1,217 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,211 |
| Toyota RAV4 Limited 2WD | $1,217 |
| Toyota Tacoma Double Cab 4WD | $1,234 |
| Chevrolet Malibu LT | $1,243 |
| Toyota Prius | $1,250 |
| Nissan Altima 2.5 S 4-Dr Sedan | $1,275 |
| GMC Sierra 2500HD SLE Extended Cab 4WD | $1,298 |
| Jeep Grand Cherokee Laredo 2WD | $1,330 |
| Ford F-150 XLT Super Cab 4WD | $1,334 |
| Dodge Grand Caravan Crew | $1,357 |
| Get a Custom Quote Go | |
Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Prices do not factor in Greensboro, NC location which can increase or decrease prices substantially.
Based upon the table data, you can expect makes and models like the Honda CR-V, Ford Escape, and Ford Edge are most likely to be a few of the most budget-friendly vehicles to insure for drivers on welfare.
Comparing quotes for affordable car insurance is not most people’s favorite thing to do, and figuring out which companies offer the cheapest auto insurance rates for welfare recipients involves even more diligence. Every insurance company uses their own formula for determining rates, so to begin we’ll rank the auto insurance companies with the overall best prices in Greensboro, NC.
Find Cheaper Car Insurance in North Carolina
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $643 |
| 2 | Progressive | $651 |
| 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 | $870 |
| 10 | National General | $881 |
| 11 | Erie | $895 |
| 12 | Allied | $919 |
| 13 | Travelers | $927 |
| 14 | Nationwide | $1,001 |
| 15 | Peerless | $1,002 |
| 16 | Encompass | $1,031 |
| 17 | MetLife | $1,038 |
| 18 | Unitrin | $1,042 |
| 19 | Allstate | $1,064 |
| 20 | Safeco | $1,076 |
| Quote Your Rates Go | ||
Utica National may offer some of the best car insurance rates in Greensboro at around $643 annually. This is $229 less than the average policy premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, GEICO, and NC Farm Bureau are also some of the best Greensboro, NC auto insurance companies.
As shown in the table above, if you are insured with GEICO and switched to Utica National, you may realize savings of in the neighborhood of $77. Drivers with NC Farm Bureau might save as much as $94 a year, and Penn National customers might cut rates by $96 a year.
Be aware that those premiums are averages for all types of insureds and vehicles and do not take into consideration an exact location for welfare recipients. So the company that fits you best may not even be in the list above. That point stresses why you need to get auto insurance quotes using your own personal information and vehicle type.
Full coverage rates vs. liability-only
Buying cheaper auto insurance should be important to the majority of vehicle owners, and one great way to lower the cost of insurance for welfare recipients is to only pay for liability coverage. The illustration below illustrates the comparison of car insurance rates with and without physical damage coverage. The rate quotes are based on no claims or driving citations, $100 deductibles, drivers are not married, and no discounts are factored in.
Averaged out for all age groups, comprehensive and collision coverage on your policy costs $1,952 per year more than just buying liability only. That amount may make you wonder when is it a good idea to stop buying full coverage. There is no clear-cut formula of when to stop paying for comp and collision coverage, but there is a broad guideline. If the annual cost of your full coverage insurance is more than 10% of replacement cost minus your deductible, then it might be time to consider dropping full coverage.
There are some conditions where removing full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage.
Impact of violations and accidents on rates
The easiest method to obtain low auto insurance prices in Greensboro for drivers on welfare is to be a good driver and avoid accidents and traffic citations. The chart below illustrates how traffic citations and at-fault claims can increase insurance premiums for each age group. The data assumes a married male driver, comp and collision included, $500 deductibles, and no discounts are applied.
In the previous chart, the average cost of car insurance per year with a clean driving record and no accidents is $1,009. Get two speeding tickets and the average cost jumps to $1,384, an increase of $375 each year. Next add two accidents along with the two speeding tickets and the 12-month cost of auto insurance for welfare recipients increases to an average of $2,853. That’s an increase of $1,844, or $154 per month, just for being a less-than-perfect driver!
What aren’t you shopping around?
Greensboro, NC auto insurance rates are impacted by many factors that can increase the price you have to pay for coverage. Getting older, marrying your spouse, or getting a speeding ticket may prompt premium changes that can cause some rates to be more affordable than competitors.
Also, insurance companies change rates every year or even multiple times each year to adjust for gains or losses. Unexpectedly high claims may result in rate hikes, while lower claim levels can result in lower-cost Greensboro car insurance rates.
For example, the data below shows a variety of companies that have the cheapest car insurance in Greensboro, NC for a 35-year-old male driver with a clear driving record, no claims, and a good credit history. If we look at prices based on his personal risk profile, Utica National may offer the cheapest car insurance rates in Greensboro at $733 each year. This is $139 less than the average policy premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, Penn National, and GEICO also make the list of the most affordable Greensboro, NC auto insurance companies.
The next chart shows rates after we give the driver in the first example a claim or two, a lower credit rating, and a stop sign violation. Since each auto insurer uses their own calculation to set policy rates, comparing rates could now result in a new list of the cheapest Greensboro car insurance companies as shown below.
NC Farm Bureau now has the cheapest car insurance in Greensboro with State Farm, Auto-Owners, Erie, and Travelers completing the list. This example illustrates why consumers need to take the time to take the time to shop around to find the lowest insurance rates for welfare recipients. Insurance prices are impacted by many different factors and can change without notice, so the cheapest option three years ago may now be an over-priced policy.
If you aren’t sure which coverage to buy and prefer to get some guidance when buying car insurance for drivers on welfare, the insurance agencies below can provide answers to your questions and help you determine which coverages and limits you need. To locate a Greensboro insurance agent close to where you live, click the button link following the list.
- State Farm: Ashley Collins
w ste b 27403, 1610 W Friendly Ave – Greensboro, NC 27403 – (336) 274-7900 - Allstate Insurance: Kayode Abimbola
603 Summit Ave #101 – Greensboro, NC 27405 – (336) 273-6363 - Hix Insurance Center
924 E Bessemer Ave – Greensboro, NC 27405 – (336) 272-7168
View more Greensboro, NC insurance agents
How to find low-cost car insurance for welfare recipients
It’s not impossible to find cheaper rates, and here are some of the better money-saving solutions that can help North Carolina drivers get lower-cost auto insurance.
- Bundle car and home insurance and save money
- Avoid filing excessive claims
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Increase your credit rating
- Increase the comprehensive and collision deductibles on your policy
- Having at-fault accidents will increase rates
- Compare price quotes at least once a year
The last tip is highly important, as we emphasized in the prior article. Prices charged by car insurance companies in Greensboro can change considerably in a year, so don’t hesitate to buy a different policy if a lower-cost policy is available. Brand loyalty is not necessarily bad, but it’s not recommended if that loyalty ends up costing money that could be used for better things. Spend a few minutes and shop around and find cheaper insurance for welfare recipients.