Cheapest Auto Insurance for Drivers Requiring a SR22 in North Carolina

The words “cheap” and “insurance” really shouldn’t be used in the same sentence, especially when you are trying to find the cheapest auto insurance for drivers requiring a SR22. Because it’s not cheap, let’s go over a few of the things that have a considerable impact on insurance prices, and see if we can help you take the bite out of the next policy you buy.

Shopping around for budget car insurance is not the easiest thing to do, and determining which companies quote the best car insurance rates for drivers requiring a SR22 requires a little more work. Policy prices may be significantly more expensive than the average policy in North Carolina due to the additional risk associated with selling coverage for high risk drivers, but reasonable coverage may be attainable if you compare enough rates. Each auto insurance company has a unique approach for setting rates, so let’s begin by examining the car insurance companies with the overall best prices in North Carolina.

We do need to point out that North Carolina car insurance rates are determined by lots of factors that control the price you pay. This is why North Carolina drivers need to shop around with many companies when trying to find affordable car insurance rates for drivers requiring a SR22. Car insurance prices consist of many risk factors and can increase or decrease at any time, so the cheapest company three years ago may now not even be in the top five.

Lowest Insurance Price Quotes for SR22 Drivers

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Progressive has some of the lowest car insurance rates in North Carolina at around $639 per year. Utica National, Liberty Mutual, GEICO, and Penn National also rank well as some of the most economical North Carolina car insurance companies.

In this example, if you currently buy coverage from Liberty Mutual and switched to Progressive, you may realize an annual premium reduction of approxmiately $61. Drivers with GEICO might save as much as $81 a year, and Penn National policyholders might lower prices by up to $86 a year.

Understand that those policy rates are averaged for all ages of drivers and types of vehicles and do not take into consideration a rate surcharge for drivers requiring a SR22. So the insurer that fits your situation best may not even be included in the company chart above. That emphasizes why you need to get car insurance quotes using your own driver information and specific vehicle type.

For high risk drivers, one of the big criteria that help set a rate quote is where you live. Cities with more crime and/or more people like Fayetteville, Charlotte, and Wilmington tend to have more expensive car insurance rates, whereas less populated areas have the enjoyment of a little cheaper coverage.

The table below lists the higher priced cities in North Carolina for drivers requiring a SR22 to buy auto insurance in.

Price information shown is comparative as vehicle location can revise rates greatly.

The type of vehicle needing coverage is one of the main factors when shopping around for low-priced insurance for drivers requiring a SR22. Vehicles with high performance features, a lack of advanced safety features, or a track record of large liability claims will cost much more to insure than safer models. The information below presents car insurance costs for a handful of the most cost-effective automobiles to buy insurance for.

Data based on married male driver age 50, two speeding tickets, two at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, multi-vehicle, and multi-policy. Price information does not factor in zip code location which can decrease or increase prices significantly.

Based upon the table data, makes and models like the Ford Escape, Honda CR-V, and Subaru Forester are going to be a few of the less-costly vehicles to insure for high risk drivers. The cost of a car insurance policy will be more costly because there is a higher risk for drivers requiring a SR22, but in general those specific models will probably have the best insurance prices that you’ll find.

How violations and accidents impact rates

The recommended way to snag low car insurance rates in North Carolina for high risk drivers is to pay attention while driving and avoid at-fault accidents and violations. The diagram below illustrates how speeding tickets and at-fault collisions drive up car insurance costs for different age groups. The premium estimates are based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied to the premium.

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The chart shows that the average cost of an auto insurance policy in North Carolina per year with no accidents or violations is $1,189. Factor in one speeding ticket and the average cost hikes up to $1,369, an increase of $180 each year. Now include two accidents along with the one speeding ticket and the 12-month cost of car insurance for drivers requiring a SR22 goes up to an average of $3,069. That’s an increase of $1,879, or $157 per month, just for not driving safely!

Geico, State Farm, Allstate, or Progressive: Who is best?

When researching auto insurance, four good companies to start with are Geico, State Farm, Allstate, and Progressive. All of them offer liability and physical damage protection, but each on has a distinct set of features and optional coverages that may affect your buying decision. The next table illustrates some of the ratings and options shoppers can expect to find with each one.

Cheap insurance quotes for high risk drivers

You have many ways to compare car insurance prices in North Carolina, but the most prevalent ways are through an independent agent, an exclusive insurance agency like State Farm or Auto-Owners, or buying direct from a company like Geico or Progressive. Each way has the same basic steps, but they are slightly different in how they function.

Independent agencies have contracts with many companies and can get rate quotes from all of them. Independent agents can provide you with more rate quotes, which can give you more bang for your buck. If cheaper coverage is found, your agent can just switch to a different company and you can remain with the same agent.

Exclusive agents are able to quote prices with one insurance company such as an Allstate or Liberty Mutual agent. These agents are not able to place coverage with different providers, so if the price isn’t competitive there isn’t much they can do.

The third way to buy car insurance is direct which means you do not use a local insurance agent and buy direct online or over the phone from a company like Progressive or Esurance. Shopping for car insurance direct can be good for consumers who do not have a lot of assets and know what coverages, limits, and deductibles they need.

Which way is best to buy the cheapest car insurance for drivers requiring a SR22 in North Carolina? The majority of people assume that buying from a direct company saves the most money since there is no middleman, but in reality, that is not the case. We could also say that going through an independent agent guarantees the cheapest rates since they have more companies to choose from, but that assumption is not true either. For some people, the exclusive agents have very competitive rates that are the cheapest in North Carolina.

Because there are so many factors that make up car insurance rates, the only real way to buy the cheapest policy is to get quotes and compare the rates. If you have the time, get price quotes all three ways to have the best selection of rates to choose from. To see some of the cheapest online companies available, click here to view.

How to find the cheapest car insurance for drivers requiring a SR22 in North Carolina

The list below shows many money-saving ideas that can help you get cheap car insurance.

• Too many claims can make car insurance unaffordable
• Drop full coverage on older vehicles
• Save money by observing traffic laws and speed limits
• Raise your deductibles
• Do not get into accidents that are your fault
• Shop around for lower rates once a year

The last idea is incredibly vital, as was pointed out in the article above. Rates change a lot, so don’t be afraid to switch to a new company if a lower price can be found.

Many drivers have brand loyalty and that’s fine, but it’s not a good idea if that loyalty ends up costing hundreds of dollars a year. Spend a few minutes and compare rates and find cheaper auto insurance for drivers requiring a SR22.