How Much Does Auto Insurance Cost for Active Military in North Carolina?

The words “economical” and “insurance” really shouldn’t be used together, specifically when you are trying to find the lowest insurance prices for active military. Because it’s so expensive, let’s take a look at some situations that determine insurance premiums, and find out if you can shave a little off the next policy you buy.

When shopping for cheaper insurance for military personnel, one of the many considerations that affect rate quotes is where your home is located in North Carolina. Cities that have higher claim levels or more people like Fayetteville, Charlotte, and Gastonia will most likely pay more, whereas areas with lower crime rates and fewer weather claims benefit from lower coverage costs.

The information below sorts the most expensive areas in North Carolina for active military to buy an auto insurance policy in.

Annual rates are approximated as the specific garaging location can revise price quotes greatly.

Finding reliable, budget insurance is not easy, and determining which companies quote the cheapest car insurance rates for active military will involve a little more work. Prices will probably be a little bit less expensive than the average price in North Carolina due to the decrease in risk that comes with selling coverage for military personnel. Competitively-priced coverage should be achievable from a lot of good insurance companies.
Each auto insurance company has a proprietary formula to establish rates, so we’ll take a look at the most affordable car insurance companies in North Carolina.

Best Insurance Companies for Military

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Progressive generally has some of the best car insurance rates in North Carolina at around $639 each year. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also rank well as some of the cheaper North Carolina insurance companies.

As the example above demonstrates, if you have coverage with NC Farm Bureau and switched to Utica National, you might see an annual premium reduction of around $47. Drivers with Penn National might save as much as $55 a year, and GEICO policyholders might lower prices by up to $66 a year.

Bear in mind that those rates are averages across all types of drivers and the different vehicles they drive and and are not calculated with a price decrease for active military. So the company that can offer you the best rate may not even be included in the above rate chart. That affirms the importance of why you need to compare prices as often as possible using your own individual information.

Full coverage versus liability-only in North Carolina

Finding cheap insurance for active military in North Carolina is probably important to most drivers, and one common way to pay lower rates for insurance is to not buy comprehensive and collision coverage. The information below illustrates the difference between car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The rates are based on no claims or driving citations, $500 deductibles, drivers are single, and no additional discounts are factored in.

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As an average for all age groups, comp and collision coverage costs $1,573 per year more than carrying just liability coverage. Many people question if buying full coverage is worth the money. There is no definitive rule that is best for determining when to drop physical damage coverage, but there is a general guideline. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.

For example, let’s pretend your vehicle’s settlement value is $4,500 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,500 after paying your policy deductible. If you are paying over $350 annually for full coverage, then you might want to consider buying only liability coverage.

How to find cheap insurance for active military in North Carolina

Lowering your rates is not difficult, and here are some of the recommended thrifty suggestions that can help drivers get low-cost coverage.

• Buy a safer vehicle
• Drop full coverage on older vehicles
• Maintain a safe distance and avoid accidents
• Tickets and violations raise rates
• Discounts for being claim-free can be substantial
• Buy your homeowners policy from the same company as your auto insurance
• Compare rates often to find the best deal

The last idea is remarkably valuable, as was emphasized in this piece. Prices charged by car insurance companies vary considerably, so you should be ready to switch companies if a cheaper price is available. Having a favorite company is fine, but we do not recommend it if that loyalty ends up costing potentially thousands of dollars a year. It only take a few minutes to compare rates and find cheaper insurance for active military.