Overall, North Carolina has some of the lowest auto insurance rates in the country, and Winston-Salem is no exception. In Winston-Salem, the average annual cost of car insurance is $399 for minimum coverage and $1,182 for full coverage. A full coverage policy costs an average of $1,674 per year in the United States.
Carriers such as Geico, State Farm, Nationwide, Erie, and Allstate not only offer the lowest rates for coverage in Winston-Salem, but also a slew of other benefits. Through AM Best, all of these carriers have excellent financial ratings. Erie stands out due to its high, above-industry average J.D. Power rating. Erie insurance, on the other hand, can only be obtained through an agent and not online, unlike the other four carriers, which offer a variety of purchasing options.
Insurance requirements in Winston-Salem
North Carolina, like most other states, requires drivers to carry a certain amount of liability insurance. The 30/60/25 requirement includes the following:
$30,000 in bodily harm per person
$60,000 Per-accident bodily harm
Property damage per accident is $25,000
Keep in mind that purchasing the minimum state requirement may not be an option for your specific situation. Most lenders, for example, require you to purchase comprehensive and collision coverage if you lease or finance a vehicle until the loan is paid in full. Many lenders may require gap coverage if you purchase a new vehicle.
Winston-Salem car insurance discounts
Taking advantage of discounts is one way to maximise savings on Winston-Salem auto insurance rates. Here are some examples of available discounts:
Good student: If you keep your grades up, you can save money on your insurance. Most carriers offer discounts if your grade point average is B or higher.
Defensive driving: If you take a defensive driving course, you may be eligible for additional discounts. To receive your discount, make sure the course is approved by your carrier before signing up.
Equipment for safety: You may be eligible for additional discounts if your vehicle has safety features such as airbags, anti-lock brakes, or an anti-theft system.
Bundling: Purchasing an auto insurance policy from the same carrier you use for homeowners or renters insurance is one of the simplest ways to save money.
Discounts are a simple way to save, but there are other options for lowering premiums. For example, if you buy comprehensive and collision coverage and are willing to accept a higher deductible, your premiums will be lower. To avoid additional instalment fees, you can also pay your premiums in full.
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