Rates for auto insurance in North Carolina are substantially lower than the national average of $1,440 for 2011, as the state average annual premium is only $1,205.
Annual Changes
Premiums in North Carolina have decreased 11% between the beginning of 2010 and 2011, following a 13% decrease between 2009 and 2010. There is no fixed premium structure in North Carolina and insurers which operate there are free to set their own rates. Therefore, especially because rates can change during the course of one year, drivers are advised to check North Carolina car insurance rates on our site in order to obtain and maintain the best possible price.
Seasonal Changes
Between November 2010 and December 2010, average annual car insurance premiums in North Carolina remained steady until August, when a price drop took place that continued even further into September, bringing rates to new fall lows. The new low rates rose to their present, but still low, level by November 2010. Fluctuations can occur very rapidly in North Carolina, so that frequent monitoring of rates and trends is highly recommended.
Insurance Requirements
Minimum insurance requirements for the state of North Carolina call for personal liability coverage of $30,000 per person/$60,000 limit per accident and a $30,000 property damage liability limit. Coverage to protect against damage caused by an uninsured or under-insured driver is mandatory in North Carolina as of January 2009, and minimum coverage limits are the same as those for regular coverage. However, North Carolina works under a tort system, where one party must be judged responsible for any accident. That responsible party is then held liable for the entire cost of the accident. Higher limits are therefore recommended to protect assets in the event of a lawsuit.
Advice for Getting the Best Deals
North Carolina car insurance providers include national insurers as well as regional insurers. Since each company uses different criteria to determine their premiums for each driver,no one company can be said to offer the best overall rates. Experts recommend obtaining multiple quotes from reliable insurance companies which are rated A or higher by A. M. Best. The J. D. Power ratings for each company should be checked as well, for these ratings provide reliable consumer service related information.
Using our site to monitor rates and periodically obtain new quotes helps North Carolina drivers obtain and maintain the lowest possible auto insurance premiums available in the state.
