The words “cheap” and “auto insurance” probably shouldn’t be used in the same sentence, especially when searching for the lowest insurance rates for inexperienced drivers. In an attempt to save some money, let’s lead off by showing you a few of the things that influence insurance premiums, and come up with some ways to take the bite out of the next policy you buy.
Finding decent, cheap insurance is difficult, and figuring out which insurers offer the lowest-priced auto insurance rates for inexperienced drivers will take even more perseverance.
Every auto insurer has a unique formula for determining rates in each state, so we’ll take a look at the auto insurance companies with the most affordable rates in Greensboro, NC. Keep in mind that North Carolina auto insurance rates are calculated based on many things that control the policy premium. Price variation is why drivers need to spend some time comparing rates to get the most budget-friendly insurance rates for inexperienced drivers. Insurance rates are impacted by many factors and can change substantially, so the cheapest rate the last time you shopped your coverage around may now be one of the higher cost companies.
Cheap Insurance Rates for Newbies
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $632 |
| 2 | Utica National | $662 |
| 3 | NC Farm Bureau | $716 |
| 4 | Liberty Mutual | $728 |
| 5 | Titan | $737 |
| 6 | Penn National | $739 |
| 7 | GEICO | $742 |
| 8 | State Farm | $756 |
| 9 | Auto-Owners | $878 |
| 10 | Allied | $892 |
| 11 | Erie | $895 |
| 12 | Travelers | $900 |
| 13 | National General | $917 |
| 14 | Peerless | $992 |
| 15 | Unitrin | $1,012 |
| 16 | MetLife | $1,018 |
| 17 | Encompass | $1,031 |
| 18 | Nationwide | $1,031 |
| 19 | Safeco | $1,066 |
| 20 | Allstate | $1,086 |
| Find Your Rate Go | ||
Progressive may offer some of the best car insurance rates in Greensboro at around $632 a year. Utica National, NC Farm Bureau, Liberty Mutual, and Titan would also be considered some of the most economical Greensboro, NC car insurance companies.
As depicted above, if you currently have coverage with Titan and switched to Utica National, you may see annual savings of roughly $75. Customers with Penn National may save as much as $77 a year, and GEICO insureds might reduce rates by $80 a year.
To discover how much you can save, click here to start your free quote or visit any of the low-priced companies below.
Understand that those policy rates are averages across all types of drivers and the different vehicles they drive and are not factoring in a vehicle location for inexperienced drivers. So the company that fits your situation best may not even be in the list above. That helps illustrate why you need to compare rates from multiple companies using your own individual information.
One of the many things that are looked at to help calculate car insurance rates is where you keep your car in Greensboro. Areas with more people or even just a higher incidence of claims are more likely to have higher rates, whereas areas that tend to be more rural tend to receive cheaper rates.
The following table sorts the most expensive places in North Carolina for inexperienced drivers to purchase auto insurance in. Greensboro shows up at #8 with the annual price of $756 for the average policyholder, which is around $63 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Fayetteville | $923 |
| 2 | Jacksonville | $873 |
| 3 | Charlotte | $832 |
| 4 | Gastonia | $803 |
| 5 | Wilmington | $788 |
| 6 | Durham | $765 |
| 7 | Raleigh | $760 |
| 8 | Greensboro | $756 |
| 9 | Wilson | $754 |
| 10 | Cary | $749 |
| 11 | Apex | $739 |
| 12 | Goldsboro | $735 |
| 13 | Huntersville | $734 |
| 14 | High Point | $731 |
| 15 | Greenville | $730 |
| 16 | Chapel Hill | $724 |
| 17 | Indian Trail | $723 |
| 18 | Hickory | $718 |
| 19 | Rocky Mount | $718 |
| 20 | Winston Salem | $709 |
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Annual rates are approximated as the specific geographic location can influence premium rates considerably.
The type of vehicle you are seeking coverage for is a large consideration in finding the most economical insurance for inexperienced drivers. Vehicles with higher performance, a lack of advanced safety features, or a history of substantial liability claims will cost significantly more to insure than safer models. The information below presents insurance rates for a handful of the most cost-effective vehicles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 2WD | $1,009 |
| Honda Accord LX-P 4-Dr Sedan | $1,129 |
| Ford Edge SEL 2WD | $1,147 |
| Ford Focus SES 4-Dr Sedan | $1,208 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $1,210 |
| Ford Escape XLS 4WD | $1,212 |
| Chevrolet Impala LTZ | $1,230 |
| GMC Sierra SL Crew Cab 2WD | $1,253 |
| Nissan Rogue S 2WD | $1,262 |
| GMC Sierra 3500HD SLE Extended Cab 2WD | $1,275 |
| Ford Fusion Sport AWD 4-Dr Sedan | $1,336 |
| Kia Optima SX | $1,345 |
| Jeep Grand Cherokee Laredo 4WD | $1,341 |
| Toyota RAV4 Limited 2WD | $1,347 |
| Toyota Prius | $1,348 |
| Ford Explorer XLT 4WD | $1,359 |
| Ford F-350 Super Cab Cabela Turbo Diesel 2WD | $1,367 |
| Dodge Grand Caravan SXT | $1,368 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $1,377 |
| Volkswagen Jetta LE 4-Dr Sedan | $1,436 |
| Chevrolet Equinox LTZ AWD | $1,438 |
| Chevrolet Malibu LT | $1,465 |
| Ford F-150 Lariat Crew Cab 4WD | $1,472 |
| Get a Custom Quote Go | |
Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Table data does not factor in your specific Greensboro, NC location which can increase or decrease coverage rates significantly.
By looking at the data, you can conclude that models like the Honda CR-V, Honda Accord, Ford Edge, Ford Focus, and Jeep Wrangler are most likely to be a few of the cheaper vehicles to insure for new drivers.
Selecting a good quality insurance company can be a challenge considering how many companies provide coverage in Greensboro. The ranking data in the next section can help you pick which insurers you want to consider comparing prices from.
The rankings below are only made up of large insurance companies, so companies that may only write in North Carolina are not factored into these rankings. If you’d like to compare prices from the insurers below and more, follow this link.
Top 10 Major Auto Insurance Providers in Greensboro Ranked by Customer Service
- USAA
- Travelers
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
- Esurance
The diagram below illustrates how choosing a deductible can affect premium costs when quoting cheap insurance for inexperienced drivers. Data assumes a married female driver, full coverage, and no discounts are applied to the premium.
The data above shows that a 50-year-old driver could save $170 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $258 by changing to a $1,000 deductible. Young drivers, such as the Age 20 example, could roll back prices as much as $422 annually just by choosing higher deductibles when buying full coverage. If you make the decision to raise deductibles, it is necessary to have plenty of savings on hand to enable you to pay the extra out-of-pocket expense, which deters some people from using high deductibles.
You are probably paying too much for car insurance
North Carolina auto insurance rates are impacted by many factors that control the price you pay for coverage. Improving your credit score, moving to a new city, or getting a few speeding tickets may generate price changes that can now make some companies more affordable than competitors. Additionally, companies modify rates as often as every quarter in order to be able to pay unexpected claims. Heavy losses can result in rate increases, while a better claims history can produce lower-priced Greensboro car insurance rates.
The bar chart below shows a variety of companies that have the cheapest car insurance in Greensboro, NC for a 40-year-old male driver with a clean driving record, no accidents, and great credit. If we look at prices based on his current risk profile, Progressive might quote the most affordable car insurance rates in Greensboro at $721 a year. This is $151 less than the average price paid by North Carolina drivers of $872. Utica National, Penn National, Liberty Mutual, and NC Farm Bureau also make the list of the cheapest Greensboro, NC auto insurance companies.
Now we will give the driver from the first example a chargeable claim, a lower credit rating, and an imperfect driving record. Because each insurer has a unique formula to set premium rates, comparing insurance quotes could now result in a different set of the cheapest Greensboro car insurance companies as shown below.
Titan now has the cheapest auto insurance in Greensboro with State Farm, Auto-Owners, National General, and Utica National also having competitive pricing. This shows why it is crucial to shop around to find the lowest car insurance quotes for inexperienced drivers.
Auto insurance prices are determined by many factors and can increase or decrease at any time, so the cheapest company the last time you compared rates may now be an over-priced policy.