Charlotte Car Insurance

Your Complete Guide to Charlotte, NC Car Insurance

From fender benders on W. Morehead Street to multi-car collisions on I-77, accidents can happen anytime, anywhere and to anyone – even the most experienced drivers. Fortunately, a reliable car insurance policy can shield you from facing a large financial loss in the wake of a collision. 

If you own a vehicle in Charlotte, you are required by North Carolina state law to have auto insurance. A local independent agent can help you find the best and most affordable car insurance policy to meet your coverage needs.

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North Carolina Auto Insurance Requirements

  • Bodily injury liability: Required
  • Property damage liability: Required
  • Personal injury protection (PIP): Not required
  • Uninsured motorist coverage: Required
  • Minimum liability limits: 30/60/25; coverage up to $60,000 for all persons injured in an accident, subject to a limit of $30,000 for one individual; and $25,000 coverage for property damage.

North Carolina’s minimum coverage requirements are high enough to cover most minor accidents. However, a serious collision can easily exceed the limits of a minimum-coverage policy. If you do not have enough insurance to cover the costs you are responsible for, you will be required to make up the difference out of pocket.

That is why many Charlotte drivers choose to purchase liability coverage in amounts that are much higher than the state requires. For those who have a lot in assets they wish to protect, an umbrella insurance policy can further boost their liability coverage. Your independent agent can help you determine how much liability coverage you can reasonably afford.

How Much Does Car Insurance Cost in Charlotte, NC?

  • National average annual car insurance cost: $1,311
  • North Carolina average annual car insurance cost: $986
  • Charlotte average cost per year: $990

North Carolina is the 44th most expensive state for auto insurance, so the average rate in this state is lower than the national average. This is good news if you are in the market for an affordable car insurance policy.

Of course, auto insurance rates often vary significantly from one driver to the next. This is because costs are calculated on an individual basis according to several factors such as:

  • Your age, driving history, and credit score
  • Your car’s make, model, and year 
  • The approximate number of miles you drive each year
  • The amount of liability insurance you are purchasing
  • Whether your policy includes comprehensive and/or collision coverage
  • Whether you are bundling your auto insurance with other policies like homeowners insurance or renters insurance
  • Whether you qualify for policy discounts 

Every insurance company has a different formula for calculating costs. Comparing quotes enables you to find the policy that is offered at the best price. Independent agents in Charlotte make comparison shopping easy by obtaining a variety of customized car insurance quotes for you. 

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Number of Uninsured Motorists in North Carolina

Driving without insurance in North Carolina is illegal. If you are caught doing so, you can have your registration temporarily revoked, be hit with fines and probation, and, if you are repeat offender, could even face jail time. Despite this, nearly one in ten drivers in this state is uninsured.

  • How many US drivers are uninsured? 12.6%?
  • How many North Carolina drivers are uninsured? 9.1%.

If an uninsured driver causes a collision with your vehicle, that driver is expected to pay for your resultant damage and any necessary medical treatment. Unfortunately, collecting this money on your own can be extremely time-consuming, difficult, and sometimes impossible.  That is why uninsured motorist insurance was created. 

Though it is optional in many states, uninsured motorist insurance is required in the state of North Carolina. 

Uninsured motorist insurance ensures that you will have immediate coverage for your damage and medical treatment if you are in a collision with an uninsured, underinsured, or hit-and-run driver. Your insurance company will then take on the difficult task of collecting from the at-fault driver.

Auto Thefts in Charlotte, North Carolina

The auto theft rate in North Carolina is lower than the national average, but it is higher in Charlotte. There are more than 2,700 car thefts reported in this city every year.

  • National auto theft rate per 1,000 vehicles: 2.94
  • North Carolina auto theft rate per 1,000 vehicles: 2.12
  • Charlotte number of auto thefts per 1,000 vehicles: 3.11

Know that if your car is stolen, you cannot be compensated for your loss unless your car insurance includes comprehensive insurance. This optional coverage is often required by lenders until your car is paid in full.  Also called “other than collision” insurance, comprehensive coverage also compensates you for loss or damage caused by hazards such as falling objects, floods, fires.

Why Contact an Independent Insurance Agent?

An independent agent can be a great resource when you are shopping for auto insurance. These agents can explain your various options, answer your insurance-related questions, and provide you with a variety of customized quotes to review and compare. That way, you can choose the best policy to meet your coverage and budgetary needs. 

Contact an independent agent in or near Charlotte to get started in your search for the right car insurance policy.

Sources © 2019, Consumer Agent Portal, LLC. All rights reserved.

http://www.naic.org/prod_serv/AUT-PB-14.pdf

https://www.areavibes.com/charlotte-nc/crime/

© 2019, Consumer Agent Portal, LLC. All rights reserved.

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