How Much Does Auto Insurance Cost for 16 Year Olds in North Carolina?
Enter your North Carolina Auto Insurance zip code below to view companies that have cheap auto insurance rates.
UPDATED: Aug 23, 2022
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The type of vehicle to be insured is probably the most important factor in finding cheap insurance for 16 year olds in North Carolina. Vehicles with limited speed and performance, good crash test ratings, or low incidents of liability claims will cost quite a bit less to insure than adrenaline junky models.
The information below outlines coverage rates for a handful of the cheapest vehicles to insure in North Carolina.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$2,128|
|Honda CR-V EX-L 4WD||$2,153|
|Subaru Forester X Premium AWP AWD||$2,329|
|Chevrolet Traverse LTZ 2WD||$2,329|
|Jeep Wrangler Sahara 4WD 2-Dr||$2,377|
|Volkswagen Jetta 2.0T Station Wagon||$2,482|
|Ford Edge SE AWD||$2,503|
|Ford Focus S 4-Dr Sedan||$2,510|
|Toyota Camry LE||$2,529|
|Toyota RAV4 Limited 4WD||$2,534|
|Hyundai Santa Fe SE 2WD||$2,529|
|Toyota Sienna LE AWD||$2,534|
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Data variables include single male driver age 16, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in specific location which can modify premium rates greatly.
Looking at the rates, makes and models like the Ford Escape, Honda CR-V, Subaru Forester, Toyota Prius, and Chevrolet Traverse are likely to be some of the cheapest vehicles to insure for new drivers. The cost of a car insurance policy will tend to be more expensive anyway because of the fact that there is more exposure for 16 year olds, but overall those particular vehicles will probably have the cheapest rates available.
When shopping for auto insurance for new drivers, one of the many components that determine insurance cost is your zip code in North Carolina. Areas that are more densely populated like Fayetteville, Charlotte, and Wilmington tend to have higher auto insurance costs, whereas areas with less people or fewer weather incidents generally pay less for auto insurance.
The information below sorts the highest-priced places in North Carolina for 16 year olds to purchase auto insurance in.
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Rate information is approximated as specific North Carolina garaging address can increase or decrease premium rates greatly.
Finding budget auto insurance is confusing at best, and figuring out which companies quote the cheapest auto insurance rates for 16 year olds will involve even more perseverance. Insurance rates will be much greater than the average price in North Carolina, with the extra cost attributed to the potentially higher risk that comes with selling coverage for new drivers, but reasonably-priced coverage should be possible if you carefully shop around. Each insurance company uses different criteria for filing rates in each state, so let’s rank the overall cheapest auto insurance companies in North Carolina.
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It’s a good idea to know that North Carolina auto insurance rates are impacted by many factors that control the price of your policy. This price variability is why consumers need to take the time to perform a complete rate comparison when trying to find the cheapest car insurance rates for 16 year olds. Insurance prices consist of many risk factors and change dramatically, so the most affordable company six months ago may now cost much more than other companies.
Utica National may offer some of the best car insurance rates in North Carolina at around $655 per year. Progressive, GEICO, Liberty Mutual, and NC Farm Bureau also are some of the most economical North Carolina car insurance companies.
As shown in the table above, if you are currently insured with Liberty Mutual and switched to Progressive, you might see savings of in the vicinity of $70. Policyholders with NC Farm Bureau might save as much as $79 a year, and Penn National policyholders might reduce prices by as much as $81 a year.
If you want to see how much you could save, click here to start your free quote or visit several of the following companies.
Enter your zip code below to view companies that have cheap auto insurance rates.
Understand that those premium estimates are averages for all insureds and vehicles and do not take into consideration a price increase for 16 year olds. So the company that fits your age and vehicle best may not even be shown in the list above. That is why you need to compare rates from multiple companies using your own specific driver information and vehicle.
Auto insurance company ratings
Insuring your vehicle with a high-quality insurance provider can be rather challenging considering how many companies provide coverage in North Carolina. The information listed below can help you pick which providers you want to consider when shopping around. The rankings below are for companies that write coverage in many states, so companies that have a smaller presence are not factored into this list.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Cost comparison with and without full coverage
Finding cheap insurance for 16 year olds in North Carolina is the goal of most vehicle owners, and one good way to lower the cost of insurance is to buy only liability coverage. The chart below shows the difference between insurance prices with and without physical damage coverage. The costs are based on no claims or violations, $250 deductibles, drivers are not married, and no additional discounts are factored in.
Averaged out for all age groups, physical damage coverage on your policy costs an extra $1,785 per year over and above liability only. A very common question is if physical damage coverage is worth the money. There is no clear-cut rule to exclude physical damage coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then you may need to consider dropping full coverage.
There are a few cases where eliminating full coverage is not a good idea. If you haven’t satisfied your loan, you have to keep full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Why it’s important to shop around
North Carolina auto insurance rates are impacted by many factors which can substantially change the policy price. Turning one year older, filing a claim, or getting a reckless driving citation may cause policy rate changes resulting in some rates now being affordable when they were higher priced.
Not only may your situation change, but auto insurance companies amend premium rates every year to help ensure profitability. Higher than normal claims may result in higher priced premiums, while a profitable period may cause lower-priced North Carolina car insurance rates.
For instance, the data below compares the cheapest car insurance in North Carolina for a 30-year-old male driver with no violations or accidents, and a good credit history. If we compare prices based on his current situation, Utica National quotes the cheapest car insurance rates in North Carolina at $636 per year. This is $236 less than the average rate paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and GEICO are also included in the best North Carolina auto insurance companies.
The example below compares rates after we give the driver in the first example a claim or two, less-than-perfect credit, and a stop sign violation. Because each insurer has a proprietary method for determining rates, getting updated rate quotes will most likely result in a completely different list of cheap North Carolina auto insurance companies as shown below.
Titan now has the best auto insurance rate in North Carolina with State Farm, Auto-Owners, Erie, and National General now rounding out the top five. This example demonstrates why North Carolina drivers need to compare lots of rates when trying to get the lowest insurance quotes for 16 year olds. Car insurance prices are calculated by many different factors and change substantially, so the cheapest rate three years ago may now be one of the higher cost companies.
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