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Best cheap car insurance in Greensboro for 2024
Powered by Coverage.com (NPN: 19966249)
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The best car insurance companies in Greensboro
Finding the best car insurance company for your needs is about more than cost. To identify the best North Carolina car insurance companies for drivers in Greensboro, Bankrate’s insurance editorial team analyzed average premium data sourced from Quadrant Information Services. We also dug into expert third-party assessments and financial strength ratings and looked at metrics of insurer success like coverage options, potential discounts, accessibility of mobile tools and overall customer satisfaction to assign each company a Bankrate Score on a five-point scale. Our intent is to provide a quick snapshot of how well each insurer meets the needs of drivers in Greensboro.
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Geico made our list: With a 4.4 Bankrate Score for auto insurance and as a Bankrate Awards winner for Best Budget Auto Insurance Company (tied with Auto-Owners), Geico stands out for its low average rates and reliable customer service. Geico may have particularly affordable rates for safe drivers in Greensboro, and its robust list of auto insurance discounts could help drivers save even more. Just be aware that Geico doesn’t offer certain add-ons like gap insurance, and the company doesn’t write its own home insurance policies.
Why Geico is the best insurer for digital policy management: Out of all the carriers we analyzed in Greensboro, Geico scored highest for customer service in the 2023 J.D. Power U.S. Insurance Digital Experience Study. With an average customer rating of 4.7 stars from Apple and Android users, Geico’s mobile app combines a ton of functionality, from basic policy management tools like ID cards and paperless policy features to 24/7 virtual assistance and easy claims filing. The app even provides recall and service alerts for your vehicle and can help you find nearby gas stations.
| Bankrate Score | 4.4 |
| J.D. Power | 828/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Progressive made our list: Progressive consistently offers below-average rates for drivers in Greensboro across multiple age groups and risk profiles. Plus, the company was named the 2024 Bankrate Awards winner for Best Auto Insurance Company for High-Risk Drivers. While it scored slightly below average for customer satisfaction in the Southeast region per the 2023 J.D. Power U.S. Auto Insurance Study, Progressive tied for first place in the usage-based insurance section thanks to its safe driving telematics program Snapshot.
Why Progressive is the best for insurance with a ticket or claim: While all insurers will raise rates for drivers with incidents on their driving history, Progressive’s rating mechanisms tend to be more generous to Greensboro drivers with less-than-perfect records. Young drivers with past tickets may have an easier time finding affordable rates with Progressive than other carriers here.
| Bankrate Score | 4.4 |
| J.D. Power | 836/1,000 |
| AM Best score | A+ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why State Farm made our list: State Farm offers some of the cheapest rates for drivers seeking full coverage policies in Greensboro, NC. With a Bankrate Score of 4.3, State Farm stands out for its high customer service rankings from expert third-party sources like J.D. Power. The company scored above average for customer satisfaction in the Southeast and claims satisfaction nationwide in the 2023 J.D. Power U.S. Auto Insurance and Auto Claims Satisfaction Studies.
Why State Farm is the best for full coverage: While it offers a limited slate of discounts in North Carolina, State Farm has lower average prices for full coverage in the Tar Heel State. Add-ons like gap insurance and accident forgiveness aren’t available, but a standard full coverage policy may be more affordable from State Farm than most other providers, especially for young or high-risk drivers.
| Bankrate Score | 4.3 |
| J.D. Power | 847/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Not available
Avg. full coverage premium
Full coverage
Not available
Why Travelers made our list: Robust coverage options and a Bankrate Score of 4.2 could make Travelers a strong choice for many drivers living in Greensboro. The company has a wide network of local agents here along with generally affordable average rates and a generous slate of discounts. While it’s worth noting that Travelers performed below the regional average for customer satisfaction in J.D. Power’s U.S. Auto Insurance Study, it may still be worth getting quotes in Greensboro.
Why Travelers is the best for customized coverage: Travelers shines for its plentiful policy endorsements and less-common coverage options. In addition to standard coverage types, such as liability and collision coverage, drivers can purchase gap insurance, new car replacement, accident forgiveness or named non-owner coverage. Combine these coverage options with Travelers’ many discounts, and it may be easier to build a custom policy that fits both your needs and your budget.
| Bankrate Score | 4.2 |
| J.D. Power | 818/1,000 |
| AM Best score | A++ |
Bankrate Score
Avg. min coverage premium
Min. coverage
Avg. full coverage premium
Full coverage
Why Erie made our list: While its Bankrate Score is limited by its regional availability and lack of up-to-date digital tools, Erie scored the highest out of any Greensboro insurer we looked at in J.D. Power’s study of customer satisfaction, ranking second in the Southeast behind Amica. Erie also came in second to Amica in J.D. Power’s nationwide survey of claims satisfaction. However, it might not be a good fit for drivers who prefer a mobile-forward experience since you can’t file a claim on the app.
Why Erie is the best for local agents: Erie’s digital tools are a pain point for consumers; the company scored very low for customer satisfaction in the 2023 J.D. Power U.S. Insurance Digital Experience Study in the service sector. But if you prefer to do insurance business in person or by phone and email, working with a local Erie agent could be an excellent fit.
| Bankrate Score | 4 |
| J.D. Power | 859/1,000 |
| AM Best score | A+ |
Bankrate's trusted insurance industry expertise
Read our full methodologyWith so many insurance carriers vying for business, it’s hard to know for sure which one really offers the best rates and customer experience. That’s why Bankrate’s insurance editorial team, which includes licensed agents, prioritizes working with the latest insights available, from up-to-date premium data from Quadrant Information Services to the current ratings from J.D. Power and AM Best.
46
years of industry experience
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
The cheapest car insurance companies in Greensboro
According to Bankrate’s research, State Farm, Progressive and Erie are the three cheapest auto insurers in Greensboro for drivers with state minimum coverage. Keep in mind, though, that insurance rates are based on personal risk factors that can change over time, and calculations vary from company to company.
In other words, don’t just base your decisions on the average premiums shown here; experts recommend comparing quotes for your personal risk profile from as many of North Carolina’s cheap car insurance companies as you can.
| Insurance company | Average annual min coverage premium | Average annual full coverage premium |
|---|---|---|
|
$342
|
$959
|
|
|
$417
|
$1,043
|
|
|
$437
|
$1,322
|
|
|
North Carolina Farm Bureau
|
$651
|
$2,222
|
|
Penn National
|
$694
|
$2,294
|
How much is car insurance in Greensboro, North Carolina?
The average cost of car insurance in Greensboro, North Carolina is $1,840 per year or $153 per month for full coverage. For minimum coverage, the average rate is $563 per year. That’s 1 percent more than the North Carolina state average for full coverage and 20 percent less than the national average.
North Carolina is generally one of the more affordable states for car insurance, but individual risk factors can impact the price of a policy in Greensboro.
Greensboro rates for teens
Teen drivers in Greensboro can expect to pay elevated rates due to their high-risk categorization — but keeping a teen on a family policy might greatly reduce the overall cost of coverage. In general, an 18-year-old on their own policy pays an average of $3,935 per year for full coverage. By comparison, a married couple in their 40s with an 18-year-old on their policy pay an average of $3,178 for the same coverage.
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
$927
|
$579
|
|
|
$1,106
|
$673
|
|
|
$1,397
|
$894
|
|
|
$1,671
|
$1,073
|
|
|
Penn National
|
$1,807
|
$1,107
|
| Insurance company | 16-year-old* | 18-year-old* |
|---|---|---|
|
$2,333
|
$1,545
|
|
|
$2,371
|
$1,561
|
|
|
$3,700
|
$2,524
|
|
|
Penn National
|
$5,046
|
$3,388
|
|
$5,083
|
$3,496
|
Greensboro rates for young drivers
Once Greensboro drivers hit their 20s, car insurance costs typically start to decrease, with the most significant decline after age 25. On average, a 25-year-old driver in Greensboro pays $2,025 per year for a standalone full coverage policy, compared to $2,083 for a 21-year-old or $3,935 for an 18-year-old.
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
$417
|
$421
|
|
|
$514
|
$485
|
|
|
$630
|
$493
|
|
|
Penn National
|
$744
|
$752
|
|
$796
|
$761
|
| Insurance company | 20-year-old | 25-year-old |
|---|---|---|
|
$1,044
|
$1,051
|
|
|
$1,522
|
$1,405
|
|
|
$1,863
|
$1,482
|
|
|
Penn National
|
$2,481
|
$2,505
|
|
$2,610
|
$2,582
|
Greensboro rates for adults
In adulthood, car insurance rates typically stabilize, with smaller fluctuations between age groups. A 50-year-old driver in Greensboro, for instance, pays 16 percent less for full coverage than a 30-year-old.
| Insurance company | 30-year-old | 40-year-old | 50-year-old |
|---|---|---|---|
|
$374
|
$342
|
$301
|
|
|
$417
|
$417
|
$380
|
|
|
$457
|
$437
|
$397
|
|
|
Penn National
|
$694
|
$694
|
$623
|
|
$694
|
$679
|
$671
|
| Insurance company | 30-year-old | 40-year-old | 50-year-old |
|---|---|---|---|
|
$1,043
|
$1,043
|
$914
|
|
|
$1,063
|
$959
|
$782
|
|
|
$1,384
|
$1,322
|
$1,122
|
|
|
Penn National
|
$2,294
|
$2,294
|
$1,965
|
|
$2,375
|
$2,309
|
$2,201
|
Greensboro rates for senior drivers
Drivers over the age of 55 pay some of the lowest average rates for auto insurance in Greensboro, NC thanks to a lifetime of driving experience. However, some insurance carriers may begin to raise rates for seniors to account for slower reaction times and a higher risk of serious injury from a motor vehicle crash. On average, 70-year-old drivers in Greensboro pay $1,928 per year for full coverage — 12 percent more than 60-year-olds.
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
$288
|
$394
|
|
|
$412
|
$442
|
|
|
$425
|
$530
|
|
|
North Carolina Farm Bureau
|
$571
|
$708
|
|
Penn National
|
$684
|
$743
|
| Insurance company | 60-year-old | 70-year-old |
|---|---|---|
|
$288
|
$1,106
|
|
|
$412
|
$1,101
|
|
|
$425
|
$1,494
|
|
|
North Carolina Farm Bureau
|
$571
|
$2,402
|
|
Penn National
|
$684
|
$2,440
|
The cheapest car insurance in Greensboro by driving record
Your driving record is one of the most important rating factors that insurance companies look at when determining the price of your policy in Greensboro. A clean record can net you the lowest rates, but a single ticket, accident or serious driving violation on your record could impact your rates for multiple years.
Car insurance with a speeding ticket in Greensboro
If you received a speeding ticket in North Carolina in the past few years, it’s important to understand how it could impact your insurance. On average, drivers with a single speeding ticket pay $2,713 for full coverage auto insurance in Greensboro — 47 percent more than drivers with a clean record.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
$499
|
$1,413
|
|
|
$594
|
$1,480
|
|
|
$653
|
$1,974
|
|
|
North Carolina Farm Bureau
|
$942
|
$3,211
|
|
$989
|
$3,418
|
Car insurance after an accident in Greensboro
An at-fault accident on your driving record signals to insurers that you may generate claims — that is, costs. As a result, you’ll pay a higher premium. Typically, Greensboro drivers with an at-fault accident pay 39 percent more than the citywide average for full coverage, for a yearly average of $2,556.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
$458
|
$1,304
|
|
|
$545
|
$1,377
|
|
|
$598
|
$1,832
|
|
|
North Carolina Farm Bureau
|
$863
|
$2,952
|
|
Penn National
|
$909
|
$3,031
|
Car insurance after a DUI in Greensboro
Finding cheap car insurance in Greensboro, NC after a DUI can be challenging since many insurers will raise premiums considerably for drivers with this conviction. Others may not be willing to insure drivers with DUIs at all. On average, a Greensboro driver with a DUI conviction pays $7,280 for full coverage and $2,097 for state minimum coverage. That’s roughly 296 percent more than the citywide average.
| Insurance company | Average min coverage rate | Average full coverage rate |
|---|---|---|
|
$1,016
|
$7,316
|
|
|
$1,235
|
$3,630
|
|
|
$1,507
|
$3,885
|
|
|
$1,693
|
$5,228
|
|
|
Penn National
|
$2,525
|
$8,569
|
Minimum coverage requirements in Greensboro
Like almost all states in the U.S., North Carolina has minimum requirements for car insurance in order for drivers to be on public roads legally. The state mandates that drivers have at least this much coverage:
- $30,000 in bodily injury liability per person per accident
- $60,000 in bodily injury liability total per accident
- $25,000 in property damage liability per accident
The state also requires drivers to carry the same amount of coverage in uninsured/underinsured motorist insurance. However, most insurance experts recommend carrying more than minimum coverage for better financial protection in the event of an accident.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze July 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.
Age: Rates were calculated by evaluating our base profile with the ages 20-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Teens: Rates were determined by adding a 16- or 18-year-old teen to their 40-year-old married parents' policy. The rates displayed reflect the total cost of a driver this age added to their parents’ policy.
Bankrate Score
Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
-
Cost & ratings 50%
-
Coverage & savings 30%
-
Support 20%
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
