Average Rate of Car Insurance in Charlotte, NC is $1,402

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North Carolina is a relatively less populous state in the Southeastern United States. Home to the Charlotte Hornets, Charlotte is the second largest city in terms of population in SE United States. The average cost of insuring one’s car in Charlotte is $1,042. This figure, when compared to the average cost of car insurance in other South Eastern cities is relatively low. For example, the average cost of car insurance in Miami, FL, is over $2,000, while it is over $1,500 in Atlanta, and Memphis. Charlotte’s average car insurance rate is even lower than the state average of $1,100, despite being the most populous city in the state. North Carolina as a whole is one of the cheapest places to buy car insurance.

southeastern_citiesNumerous factors influence the savings of a car owner in Charlotte. The lowest rate of car insurance in Charlotte is $769, while the highest is $1,469. The primary factors that influence the cost of insurance are age, gender, location, and make and model of the car. The driving record of the car owner also influences the cost of insurance. Accidents and alcohol related offenses usually increase the cost of insuring one’s car.  

In Charlotte, the percentage of the population who own two cars is almost the same as that of the percentage that owns one car. In such cases, bundling helps in lowering the cost of car insurance. Insuring multiple cars from the same insurance company makes insurance cheaper. For instance, the average rate of insuring one car in Charlotte is $1,042, whereas, the average rate of insuring two cars is only $1,980. These rates are quite less when compared to the rates in other cities of North Carolina. 

The cost of insuring a Volkswagen Jetta SEL, in Charlotte can be between $960 and $1,030. But, the cost of insuring a Volvo S60 TS, can cost the owner anywhere between $1,010 and $1,100. The cost of insuring high end cars such as BMW ($1,230-$1,720) and Cadillac ($1,150-$1,320) is quite high in Charlotte, like in most other cities. This is due to the fact that the cost of car insurance is directly proportional to the cost of the car. The cost of spare parts also adds to the cost of car insurance.   

Cars are prone to thefts and depending on the crime rate in one’s area, car insurance rates vary. The Charlotte-Mecklenburg Police Department says it saw a 12 percent increase in car thefts in 2019. The arrest rates in such cases also seem to be quite low.