Legislation Threatens to Raise North Carolina’s Auto Insurance Rates
Did you know North Carolina’s average auto insurance rate is the 7th lowest in the country? The average North Carolinian pays 32% below the national average. North Carolina’s auto insurance system was created nearly 50 years ago to ensure all drivers are able to purchase affordable liability insurance. The system prevents extreme rate hikes and allows drivers to comparison shop between different insurers.
Nearly one in eight U.S. motorists is driving around uninsured and putting insured drivers at greater risk in the event of an auto accident, according to a study.
According to a recent report by The Zebra, five of the 10 cities with the least expensive auto insurance rates are in North Carolina: Winston-Salem, Raleigh, Greensboro, Durham and Charlotte. Below is a chart that shows the cities nationwide with the least and most expensive auto insurance rates.
Auto insurance is your greatest expense…when it comes to your car – besides your car payment itself. But few people know what impacts their insurance rates or what they can do about it.