For financially responsible drivers, one of the largest components that are used to help calculate the amount you pay each year for auto insurance is where you live in Greensboro. Areas with increased crime or more people likely pay more, whereas less populated areas receive better rates.
The next table shows the most costly cities in North Carolina for drivers with good credit to buy an auto insurance policy in. Greensboro shows up at #7 with an annual cost of $779 for the average insured, which is around $65 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Fayetteville | $905 |
| 2 | Jacksonville | $900 |
| 3 | Charlotte | $840 |
| 4 | Gastonia | $803 |
| 5 | Durham | $789 |
| 6 | Wilmington | $781 |
| 7 | Greensboro | $779 |
| 8 | Greenville | $760 |
| 9 | Huntersville | $756 |
| 10 | Indian Trail | $745 |
| 11 | Cary | $742 |
| 12 | Apex | $739 |
| 13 | Raleigh | $737 |
| 14 | Goldsboro | $735 |
| 15 | Wilson | $732 |
| 16 | Chapel Hill | $724 |
| 17 | High Point | $723 |
| 18 | Hickory | $718 |
| 19 | Rocky Mount | $718 |
| 20 | Winston Salem | $709 |
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Premium costs are approximated as the specific zip code location can impact insurance rates noticeably.
Deciphering which companies offer the most affordable car insurance rates for drivers with good credit requires a little more effort than just quoting one company’s rates. Each auto insurance company uses a little different formula for setting prices, so let’s look at the rankings for the most budget-friendly car insurance companies in Greensboro.
Keep in mind that Greensboro car insurance rates are influenced by many factors that control your annual premium. Getting older, marrying your spouse, or having a fender bender may cause policy rate changes that can now make some companies cheaper than competitors.
Find Cheaper Car Insurance for High Credit
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $643 |
| 2 | Progressive | $651 |
| 3 | Liberty Mutual | $700 |
| 4 | Penn National | $717 |
| 5 | Titan | $729 |
| 6 | NC Farm Bureau | $737 |
| 7 | GEICO | $750 |
| 8 | State Farm | $772 |
| 9 | Auto-Owners | $852 |
| 10 | Erie | $904 |
| 11 | National General | $908 |
| 12 | Allied | $919 |
| 13 | Travelers | $927 |
| 14 | Peerless | $962 |
| 15 | MetLife | $1,018 |
| 16 | Unitrin | $1,032 |
| 17 | Nationwide | $1,041 |
| 18 | Allstate | $1,064 |
| 19 | Encompass | $1,073 |
| 20 | Safeco | $1,076 |
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Utica National normally has some of the most affordable car insurance rates in Greensboro at around $643 each year. Progressive, Liberty Mutual, Penn National, and Titan also rank well as some of the cheapest Greensboro, NC auto insurance companies.
As shown in the table above, if you are currently insured with Penn National and switched to Progressive, you might see an annual savings of around $66. North Carolina drivers with Titan might save as much as $78 a year, and NC Farm Bureau policyholders might reduce prices by as much as $86 a year.
To get a quick, customized rate comparison, click here to start your free quote or visit any of the low-priced companies below.
Remember that these rates are averages across all types of insureds and vehicles and are not factoring in a specific zip code for drivers with good credit. So the insurer that is most affordable for your situation may not even be in the list above. That illustrates why you need to compare prices as often as possible using your own specific driver and vehicle information.
The car, truck, or SUV that needs insurance is probably the largest consideration when comparing economical insurance for drivers with good credit. Vehicles with higher performance characteristics, a lack of safety features, or high incidents of liability claims will cost quite a bit more to insure than safer models.
The information below features car insurance costs for a number of the most cost-effective vehicles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford F-150 XLT Super Cab 2WD | $1,179 |
| Honda Accord LX 4-Dr Sedan | $1,205 |
| Honda CR-V LX 4WD | $1,211 |
| Ford Edge SE AWD | $1,221 |
| Chevrolet Impala LT | $1,244 |
| Dodge Grand Caravan SXT | $1,267 |
| Ford Focus SES 4-Dr Sedan | $1,286 |
| Ford Escape XLS 4WD | $1,288 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,332 |
| Nissan Rogue S 2WD | $1,340 |
| Toyota Prius | $1,332 |
| Toyota Corolla XRS | $1,338 |
| Honda Civic SI 4-Dr Sedan | $1,374 |
| Honda Odyssey EX | $1,400 |
| Toyota Camry Hybrid | $1,421 |
| Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD | $1,426 |
| Chevrolet Equinox LS AWD | $1,425 |
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Data rating is based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Price estimates do not factor in vehicle garaging location which can change insurance rates substantially.
Looking at the data, you can assume that models like the Ford F-150, Honda Accord, Honda CR-V, Ford Edge, and Chevrolet Impala are going to be the most economical vehicles to insure for financially responsible drivers.
Full coverage versus liability-only in Greensboro
Saving on car insurance should be important to the majority of vehicle owners, and a great way to find cheaper insurance for drivers with good credit is to buy liability only. The information below illustrates the comparison of insurance costs with and without physical damage coverage. Data assumes no claims or driving citations, $500 deductibles, drivers are single, and no discounts are applied to the premium.
If averaged out across all ages, physical damage coverage costs an extra $1,292 per year over liability only. That raises the question if buying full coverage is a good investment. There is no clear-cut rule of when to stop paying for physical damage coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is 10% or more of the settlement you would receive from your company, then you might consider buying liability only.
For example, let’s say your vehicle’s replacement cost is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $7,000 after the policy deductible has been paid. If premiums are more than $700 a year for your policy with full coverage, then you might consider buying liability only.
Drive safe and save
The best way to find cheap car insurance prices in North Carolina for financially responsible drivers is to drive attentively and avoid accidents and traffic violations. The example below shows how violations and at-fault fender-benders can raise annual premium costs for each different age category. The costs are based on a married male driver, comp and collision included, $1,000 deductibles, and no policy discounts are applied.
The data in the chart shows the average cost of a car insurance policy in Greensboro per year with no violations or accidents is $897. Receive two speeding tickets and the average cost jumps to $1,227, an increase of $330 each year. Next add one accident along with the two speeding tickets and the 12-month cost of car insurance for drivers with good credit jumps again to an average of $1,562. That’s an increase of $665, or $55 per month, just for being a less-than-perfect driver!
The information below highlights how deductible selection can influence yearly insurance costs when getting quotes for cheap insurance for drivers with good credit. The costs are based on a married female driver, full coverage, and no policy discounts are applied.
A 30-year-old driver could pocket $196 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $298 by changing to a $1,000 deductible. Youthful drivers, like the Age 20 category, could roll back prices as much as $422 or more by choosing larger deductibles on their policy.
When increasing deductibles, it will be required to have plenty of savings on hand to pay the extra out-of-pocket expense that is associated with using high deductibles.
How to find cheaper auto insurance for drivers with good credit
It’s not impossible to find cheaper rates, and here are many thrifty ideas that can help you get cheap auto insurance.
- Buy vehicles with good safety ratings
- Do not get tickets or violations
- Do not get into accidents
- Good credit scores may lower your rates
- Do not pay for full coverage if not needed
- Increase physical damage deductibles
- Shop around and save
That last piece of advice is especially crucial, as we hit on in this write-up. Car insurance rates change a lot, so don’t be tentative to buy from a new company if you find a cheaper price.
Having brand loyalty is commendable, but it’s not a great idea if that devotion results in you overpaying thousands of dollars over the life of your policy. It takes less than five minutes to compare rates to find cheaper insurance for drivers with good credit in Greensboro.