Best cheap car insurance in Winston-Salem for 2021
The average cost of auto insurance in Winston-Salem, NC is $ 399 per year for minimum coverage and $ 1,192 for full coverage. While this average is well below the national average of $ 1,674 for full coverage, drivers in Winston-Salem need to know which carriers offer the most benefits for the least premiums.
To find the best cheap car insurance in Winston-Salem, Bankrate used 2021 rate data from third-party information from Quadrant Information Services, such as financial strength and customer service satisfaction and coverage options.
Best Auto Insurance Companies in Winston-Salem
Geico, State Farm, Nationwide and North Carolina Farm Bureau not only offer competitive rates, but each carrier also offers benefits such as high customer satisfaction and convenient features for policy management.
|Insurance company||JD Power Score
|Average annual premium for minimum coverage||Average annual premium for full coverage|
|Geico||843/1000||$ 247||$ 746|
|State farm||859/1000||$ 271||$ 792|
|At national scale||831/1000||$ 345||$ 1,229|
|North Carolina Agricultural Office||836/1000||$ 360||$ 1,001|
Geico offers the lowest average premiums of the carriers reviewed, and it also scores well with the JDPower customer satisfaction survey. Geico has been offering insurance products for over 75 years and continues to innovate with digital assets. Whether you prefer to work online, on your smartphone or over the phone, Geico gives you a plethora of options for filing claims or making changes to your policy.
Of the four carriers highlighted, State Farm has the highest customer satisfaction rating in the Southeast region. Since 1922, State Farm has designed insurance products for nearly every budget and auto insurance need, and continues to this day. State Farm is now the largest auto insurance provider in the United States, offering a wide range of coverage options and discounts.
At national scale
Nationwide receives the lowest score for customer satisfaction among this group of carriers, with 831 out of 1,000 points. However, Nationwide offers several advantages, including a variety of coverages for full policy customization. You can further customize your policy by adding the popular accident forgiveness option or choosing the waiver deductible. You can also choose to add full coverage and collision coverage with full waiver of the deductible.
North Carolina Agricultural Office
This regional provider doesn’t skimp on coverage or discount options for drivers in North Carolina. NCFB ranks well above other major national carriers for customer satisfaction, with 839 out of 1,000 points. This carrier receives an overall A rating from AM Best, further underscoring its financial strength. To receive quotes and complete information on coverage options and policy discounts from the North Carolina Farm Bureau, you must work with a local agent.
Cheapest auto insurance in Winston-Salem
Overall, North Carolina ranks in the Top 20 for cheapest auto insurance rates in the country, and Winston-Salem is no exception. The average cost of auto insurance in Winston-Salem is $ 399 per year for minimum coverage and $ 1,182 for full coverage. Nationally, the average cost for a full coverage policy is $ 1,674 per year.
Carriers such as Geico, State Farm, Nationwide, Erie, and Allstate not only offer the cheapest rates for coverage in Winston-Salem, but they also offer many other benefits. These carriers all offer strong financial ratings through AM Best. Erie stands out with the high and above industry average rating from JD Power. However, Erie insurance can only be obtained through an agent and not online, unlike the other four carriers where you have several options to purchase.
|Insurance company||Average annual premium for minimum coverage||Average annual premium for full coverage|
|Geico||$ 247||$ 746|
|State farm||$ 271||$ 792|
|At national scale||$ 345||$ 1,229|
|Erie||$ 377||$ 1,043|
|Allstate||$ 451||$ 1,418|
Winston-Salem Insurance Requirements
Like most other states, North Carolina requires drivers to have a minimum amount of liability coverage. The 30/60/25 requirement includes:
- $ 30,000 Bodily injuries per person
- $ 60,000 Accidental bodily injuries
- $ 25,000 Property damage per accident
Keep in mind that purchasing the minimum state requirement may not even be an option for your personal situation. For example, if you are leasing or financing a vehicle, most lenders require that you purchase full coverage and collision coverage until the loan is fully paid off. If you are buying a new vehicle, many lenders may also require spread coverage.
Auto Insurance Discounts in Winston-Salem
Taking advantage of discounts is one way to maximize the savings on your auto insurance rates in Winston-Salem. Here are examples of available discounts:
- Good student: Save on your policy if you keep good grades. Most carriers offer discounts if you maintain a B average or higher.
- Defensive driving: If you participate in a defensive driving course, you will often benefit from additional savings. Before registering, confirm that this is a carrier approved course to receive your discount.
- Security equipment: If your car is equipped with safety devices such as airbags, anti-lock brakes or an anti-theft system, you can benefit from additional discounts.
- Grouping: One of the easiest ways to save money is to purchase an auto insurance policy with the same insurer you use for home or tenant insurance.
Not only are discounts an easy way to save, there are other tactics you can consider to reduce premiums. For example, if you buy full and collision coverage, if you are willing to accept a higher deductible, your premiums will cost less. Another option is to pay your premiums in full to avoid additional payment charges.
Frequently Asked Questions
What is the best auto insurance company?
There are a variety of factors used to determine the best auto insurance company. Aspects like customer service ratings, coverage options, available discounts, and digital assets are examples of what to look at.
How much does auto insurance cost in Winston-Salem?
The average cost of auto insurance in Winston-Salem is $ 399 per year for minimum coverage and $ 1,182 for full coverage. Although this is much lower than the national average, your rates can be higher or lower. Fares depend on your age, driving history, vehicle and kilometers driven and other personal factors.
Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record, credit and the following comprehensive coverage limits:
- Liability for bodily injury of $ 100,000 per person
- $ 300,000 in civil liability for bodily injury per accident
- Civil liability for property damage of $ 50,000 per accident
- $ 100,000 in bodily injury caused by an uninsured motorist per person
- $ 300,000 in uninsured bodily injury per accident to a motorist
- $ 500 collision deductible
- Global deductible of $ 500
To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our sample drivers own a 2019 Toyota Camry, commute five days a week, and travel 12,000 miles a year.
These are sample rates and should only be used for comparison purposes. Your quotes may be different.