North Carolina Auto Insurance Quotes 8th Cheapest

According to the article “North Carolina has Eighth Cheapest Car Insurance” by Lee Weisbecker on Triangle Business Journal’s website, North Carolina auto insurance quotes are the 8th lowest in the nation and the lowest in all the South. This came from a report from the National Association of Insurance Commissioners.

North Dakota had the lowest auto insurance rates at $511.79 per year and Iowa was 2nd with $517.62 per year. The study looked at payment levels from customers for all 50 states from 2003 to 2007.

The North Carolina Insurance Commissioner, Wayne Goodwin, thinks the report’s findings are encouraging and states that he is pleased that North Carolina continues to be one of the most affordable states in the country. The low rates are partially due to the fact that North Carolina is one of the only states to negotiate standardized rates for all auto insurance companies. The rate set by the insurance commissioner becomes the cap, and companies can only deviate from this rate by offering consumers discounts. SR22 insurance in North Carolina is typically higher because these drivers are deemed higher risk.

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