One of the many factors that aid in calculating the annual cost of car insurance is where you normally keep your vehicle. More populated areas tend to pay more, whereas areas with fewer weather claims and lower vehicle theft rates profit from lower rates.
The next table rates the most expensive cities in North Carolina for infrequent drivers to buy an auto insurance policy in. Greensboro is ranked at #9 with an annual rate of $763 for the average insured, which is about $64 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Fayetteville | $932 |
| 2 | Jacksonville | $864 |
| 3 | Charlotte | $808 |
| 4 | Gastonia | $803 |
| 5 | Durham | $773 |
| 6 | Raleigh | $767 |
| 7 | Goldsboro | $765 |
| 8 | Cary | $765 |
| 9 | Greensboro | $763 |
| 10 | Wilmington | $758 |
| 11 | Huntersville | $756 |
| 12 | Wilson | $746 |
| 13 | Rocky Mount | $740 |
| 14 | Hickory | $740 |
| 15 | Indian Trail | $731 |
| 16 | Greenville | $730 |
| 17 | Apex | $725 |
| 18 | High Point | $723 |
| 19 | Chapel Hill | $717 |
| 20 | Winston Salem | $716 |
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Rates are approximated as the garaging address in Greensboro can impact coverage rates substantially.
Finding out which insurers offer the cheapest auto insurance rates for infrequent drivers may require more time than just comparing rates from one or two companies. Every insurance provider uses different criteria to determine premium rates, so let’s examine the most budget-friendly auto insurance companies in Greensboro, NC.
Cheap Insurance Rates in North Carolina
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $632 |
| 2 | Utica National | $662 |
| 3 | Liberty Mutual | $721 |
| 4 | NC Farm Bureau | $730 |
| 5 | Titan | $737 |
| 6 | Penn National | $739 |
| 7 | GEICO | $742 |
| 8 | State Farm | $779 |
| 9 | Auto-Owners | $852 |
| 10 | National General | $890 |
| 11 | Travelers | $927 |
| 12 | Allied | $928 |
| 13 | Erie | $931 |
| 14 | Peerless | $972 |
| 15 | Nationwide | $1,001 |
| 16 | Encompass | $1,031 |
| 17 | MetLife | $1,038 |
| 18 | Unitrin | $1,042 |
| 19 | Safeco | $1,076 |
| 20 | Allstate | $1,086 |
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Progressive may offer some of the lowest car insurance rates in Greensboro at around $632 annually. This is $240 less than the average price paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Titan are also some of the most economical Greensboro, NC car insurance companies.
In the rate table above, if you are a customer of NC Farm Bureau and switched to Progressive, you might achieve a yearly price reduction of roughly $98. Drivers with Titan might save as much as $105 a year, and Penn National policyholders might cut rates by $107 a year.
Remember that these estimates are averaged for all drivers and vehicles in North Carolina and do not factor in a specific zip code for infrequent drivers. So the auto insurance company that fits your age and vehicle best may not even be in the top 20 companies in the list above. That’s why you need to compare rates from multiple companies using your own driver and vehicle profiles.
The illustration below illustrates how your deductible choice can increase or decrease insurance rates when searching for cheap insurance for infrequent drivers. The rate quotes are based on a married female driver, full coverage, and no additional discounts are factored in.
A 40-year-old driver could lower their policy premium by $170 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $258 by using a $1,000 deductible. Youthful drivers, like the age 20 example, could reduce their rates $422 each year by choosing larger deductibles on their policy. When raising deductibles, it is a good idea to have enough in a savings account to satisfy the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
How violations and accidents impact rates
The easiest way to receive the cheapest auto insurance rates in North Carolina for low mileage drivers is to be a safe driver and avoid accidents and traffic citations. The information below demonstrates how traffic citations and at-fault claims drive up insurance costs for each different age group. The costs are based on a married male driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.
The data charted above shows the average cost of a car insurance policy per year with no accidents and a clean driving record is $1,339. Add in one speeding ticket and the average cost hikes up to $1,539, an increase of $200 each year. Then add two accidents along with the one speeding ticket and the yearly cost of auto insurance for infrequent drivers goes up to an average of $3,349. That’s an increase of $2,010, or $168 per month, just for not keeping your driving record clean!
Don’t stick with an overpriced policy
Greensboro auto insurance rates are impacted by many factors that may substantially change the cost of having a policy. Improving your credit rating, marrying your spouse, or getting a few speeding tickets can trigger price changes resulting in some companies being much cheaper than others.
Additionally, insurers change their prices as needed to adjust for gains or losses. Higher than normal claims may result in higher prices, while lower claim levels may produce cheaper Greensboro car insurance rates.
The chart below shows the company with the cheapest car insurance in Greensboro, NC for a 40-year-old male driver with no violations or accidents, and a decent credit rating. When comparing rates based on his current risk factors, Utica National quotes the best car insurance rates in Greensboro at $748 each year. This is $124 less than the average policy premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and GEICO are also on the list of the top five cheapest Greensboro, NC auto insurance companies.
In the next rate comparison, we’ll give the driver in the first chart some claims, a lower credit score, and a stop sign violation. Since every insurance provider has their own formula to establish rates, analyzing rates could now result in a new list of affordable companies as shown below.
Titan now has the lowest car insurance rate in Greensboro, NC with State Farm, Auto-Owners, Allied, and Erie completing the list. This illustrates why consumers need to compare lots of rates when trying to find the most economical insurance quotes for infrequent drivers.
Rates can be determined by many different factors and change dramatically, so the cheapest rate when you bought your policy may now be one of the higher cost companies.
Ideas to find budget-friendly auto insurance for infrequent drivers
Here are some penny-pinching suggestions that can help Greensboro drivers find low-cost car insurance.
- Buying home and auto insurance together can earn discounts
- Try paying for small claims out-of-pocket
- Do not get into accidents
- Higher credit scores may earn you cheaper rates
- Be a cautious driver
- Increase the comprehensive and collision deductibles on your policy
- Shop around once a year for cheaper rates
The final tip is particularly valuable, as was pointed out in the prior information. Prices in Greensboro change a lot, so don’t be tentative to buy a different policy if a cheaper rate is available. Many consumers stick with the same company and that’s fine, but is isn’t recommended if your bullheadedness ends up costing you thousands of dollars over the life of your policy. Spend a few minutes and compare rates to find cheaper auto insurance for infrequent drivers.