Cheapest Car Insurance Quotes in Banner Elk

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Banner Elk Car Insurance

^$ 28

/mo

Written by Sara Sam

Edited by Renee Martin

Why you can trust Way?

The auto insurance rates published in this guide are based on the results of research completed by Way’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with Way.

Table of Contents

How Much Is Car Insurance in Banner Elk

The car insurance rate in Banner Elk is $771 for a six-month policy, which is $58 lower than the higher than the state average. Root Insurance Company offers the lowest rates in the city at $381, making it a popular choice for budget-conscious drivers. Rates in Banner Elk can vary depending on your age, driving record, and coverage level, so not every driver will pay the same amount. Choosing a higher deductible, maintaining a clean driving history, and comparing quotes from multiple insurers can help you find better deals and save money over time.

Avg. Car Insurance in Banner Elk

$771

Avg. Car Insurance in North Carolina

$829

National Average

$1278

Cheapest Car Insurance Companies in Banner Elk

1st place: Erie

At $381 for a six month policy, Erie offers the cheapest auto insurance rates in the city.

2nd place: Progressive

Progressive offers auto insurance rates at $464 for a six-month policy, making it one of the cheapest to insure with.

3rd place: State Farm

State Farm offers auto insurance rates at $525 for six months, making it the third cheapest auto insurance company in Banner Elk.

Banner Elk Car Insurance Rates by Company

Based on our research, the cheapest car insurance company in Banner Elk, NC is Erie, offering policies at just $381 for a six-month term. This is followed by Progressive, which has an average six-month premium of $464.

At the higher end of the spectrum, Allstate is the most expensive, with rates reaching $1415 for a six-month policy. Rates can vary widely by driver, but comparing quotes from multiple companies can help Banner Elk drivers find the best deals.

Cheap Car Insurance Companies in Banner Elk, NC

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Erie	$381	$64
Progressive	$464	$78
State Farm	$525	$88
North Carolina Farm Bureau	$607	$102
Travelers	$707	$118
Farm Bureau	$763	$129
Nationwide	$817	$138
Farmers	$868	$146
Kemper	$1165	$194
Allstate	$1415	$238

Key Takeaways

Way's key takeaways about car insurance in Banner Elk

The auto insurance costs in Banner Elk fall around $381 for six months.
The cheapest auto insurance company in Banner Elk is Erie.
Teen drivers pay the highest rate in Banner Elk at $485 per month.

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Cheapest Minimum Liability Car Insurance in Banner Elk

Since car insurance is a critical requirement for owning a car, you must have minimum liability car insurance. The cheapest car insurance companies for minimum coverage in Banner Elk are given below.

Erie provides the cheapest minimum car insurance coverage in Banner Elk. Their Average 6 Month Premium is $166. Allstate is the most expensive at $525 for the same period.

Cheapest Liability Coverage in Banner Elk, NC

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Erie	$166	$28
State Farm	$221	$37
Progressive	$237	$40
North Carolina Farm Bureau	$259	$44
Travelers	$310	$51
Farm Bureau	$315	$54
Nationwide	$321	$54
Farmers	$331	$57
National General	$337	$56
Penn National	$365	$62
Allstate	$525	$88

Cheapest Full Coverage Car Insurance in Banner Elk

One might think that minimum coverage is only required when insuring your car insurance. However, having full coverage car insurance in any city is certainly a wise choice as it offers better coverage and protection. Our best pick for the cheapest auto insurance quotes in Banner Elk is Erie at $64 per month and $381 for six months.

Cheapest Full Coverage Car Insurance Quotes in Banner Elk, NC

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Erie	$381	$64
Progressive	$464	$78
State Farm	$525	$88
North Carolina Farm Bureau	$607	$102
Travelers	$707	$118
Farm Bureau	$763	$129
Nationwide	$817	$138
Farmers	$868	$146
Kemper	$1165	$194
Allstate	$1415	$238

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Average Car Insurance in Banner Elk by Rating Factor

The car insurance rates for two people under the same ZIP code will mostly be different. This is mostly because insurance rates are calculated based on several rating factors. These rating factors include the driver's age, gender, marital status, driving and claims history, credit score, location, type of vehicle, and coverage levels.

I have a clean driving record. Why is my car insurance rate here in Banner Elk, NC increasing?

Despite maintaining a clean driving record, your car insurance rates in Banner Elk, North Carolina, may be increasing due to several external factors. North Carolina has experienced significant rate hikes recently, with average premiums rising by 25.5% in 2023, largely attributed to higher claims volumes and inflation.

Additionally, Banner Elk's high urban population density, raised auto theft rates, and frequent natural disasters contribute to increased insurance costs.

Car Insurance Premiums by Age in Banner Elk

It is quite evident why teen drivers pay the highest car insurance rates in any city. Their lack of experience and increased accident rates make them a highly risky category. However, as you grow older, your car insurance rates will decrease. So, it is better to not have separate policies for teens; instead, add them to their parents' policies.

Cheapest Car Insurance Companies Based on Age Group

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Cheapest Car Insurance Rates for Teen Drivers in Banner Elk,NC

If you are planning to get a car insurance policy for your teenage dependent, Progressive provides the cheapest car insurance in the Banner Elk at $82 per month. At $2905 for a six-month premium, Allstate offers the most expensive rate for teen drivers.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Progressive	$486	$82
State Farm	$630	$106
Erie	$635	$107
North Carolina Farm Bureau	$1110	$187
Nationwide	$2403	$408
Allstate	$2905	$485

Teen Car Insurance Rates in NC by Age

Car Insurance Rates by Credit Score & Driving History

Similar to your driving history, your financial history also plays a key role in determining your auto insurance rates. A low credit score would mean a lapse in payment and increased chances of filing claims, which results in higher auto insurance rates. Therefore, the higher the credit score, the lower the car insurance rates will be.

Cheapest Car Insurance Companies for Bad Credit

For those with poor credit scores in Banner Elk, North Carolina Farm Bureau is the cheapest car insurance provider. At $166 for a six-month premium, they offer the best rates in the city. The most expensive auto insurance rate for drivers with bad credit in Banner Elk is Allstate, offering rates of around $3354 for six months.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
North Carolina Farm Bureau	$166	$28
Erie	$188	$32
National General	$287	$49
Progressive	$337	$57
Nationwide	$624	$105
Farmers	$674	$113
Travelers	$962	$164
Farm Bureau	$1088	$181
State Farm	$1359	$229
Allstate	$3354	$559

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Car Insurance Rates with An Accident in Banner Elk

Both accidents and the resulting increase in insurance rates are often beyond our control. When you’re involved in an accident, you become riskier to insure, consequently increasing the rates. In Banner Elk, NC, accidents can lead to significant hikes in your premiums.

Cheapest Car Insurance Companies after an At-Fault Accident in Banner Elk

The cheapest car insurance companies after an at-fault accident in Banner Elk include Progressive and Erie, offering $498 and $508, respectively. Allstate is an expensive provider with an average six-month premium of $2629.

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
Progressive	$498	$84
Erie	$508	$86
State Farm	$558	$94
North Carolina Farm Bureau	$729	$123
Farmers	$1056	$176
Farm Bureau	$1193	$203
Nationwide	$1199	$202
Travelers	$1265	$215
Allstate	$2629	$443

Banner Elk Car Insurance Rates by Violation

Here is a list of driving violations that can increase your car insurance rates in Banner Elk NC. For example, the car insurance in Banner Elk after a DUI increases to $1719 for a six month policy. While the rate increases by $205 for a six-month policy in the case of a speeding ticket.

Banner Elk auto insurance quotes by violations

Accident/Violation	Avg. 6 Mo Premium	Avg. Monthly Premium
None	$530	$88
One Med/PIP claim	$530	$90
Not-at-fault accident	$536	$89
One comp claim	$547	$93
Two Med/PIP claims	$547	$91
Two comp claims	$564	$96
Failure to show documents	$624	$104
Child safety restraint	$691	$117
Driving without lights	$691	$115
Failure to wear a seat belt	$691	$117
Cell phone violation	$729	$122
Texting while driving	$729	$124
Speeding 6 - 10 MPH over limit	$735	$123
Driving with expired registration	$740	$126
Driving too slowly	$751	$126
Failure to stop at a red light	$751	$127
Failure to yield	$751	$126
Illegal turn	$751	$127
Open container	$751	$126
Operating a vehicle without permission	$751	$127
Wrong way/wrong lane	$751	$126
Speeding in school zone	$757	$128
At-fault accident - $1000-$2000	$763	$127
At-fault accident - less than $1000	$763	$129
In 65 MPH zone	$806	$135
Speeding 11 - 15 MPH over limit	$806	$137
Speeding 16 - 20 MPH over limit	$806	$135
Speeding 21 - 25 MPH over limit	$806	$137
Improper passing	$823	$138
Following too closely	$829	$141
At-fault accident - greater than $2000	$889	$148
Passing school bus	$1011	$172
Reckless driving	$1022	$170
Driving with a suspended license	$1580	$269
Leaving scene of an accident/hit and run	$2221	$370
Refusal to submit to a chemical test	$2243	$381
DUI	$2249	$375
Racing	$2287	$389

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Way Tip

Avoid Having A DUI On Your Driving Record.

A DUI can increase your car insurance rates—by $5,000 to $10,000 over five years. Speeding, reckless driving, and at-fault accidents also raise rates, staying on your record for 3–5 years, while DUIs/DWIs can impact you longer.

Car Insurance Rates in Banner Elk after a DUI

There may have been times when you drank but chose not to drive—a smart and responsible decision, as most states treat DUIs as a serious offense. Your car insurance rates can double after a DUI charge, making it harder to find affordable coverage in Banner Elk.

The cheapest car insurance premiums in Banner Elk are offered by National General at $381 for a six-month policy. However, it can be as expensive as $6093 with companies like Allstate.

Banner Elk car insurance quotes with a DUI

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
National General	$381	$65
Progressive	$1293	$218
Erie	$1403	$236
State Farm	$1426	$240
Farmers	$2525	$430
Travelers	$2640	$440
Nationwide	$2823	$475
North Carolina Farm Bureau	$2994	$504
Farm Bureau	$4386	$746
Allstate	$6093	$1026

Cheapest car insurance after a speeding ticket

One of the easiest ways to save money on car insurance is to stay within the speed limit. After a speeding violation, the cheapest car insurance premiums in Banner Elk are offered by North Carolina Farm Bureau at $177. However, it can be as expensive as $2171 with companies like Allstate for a similar six-month premium.

Cheapest Car Insurance in Banner Elk after Speeding ticket

Company	Avg. 6 Mo. Premium	Avg. Monthly Premium
North Carolina Farm Bureau	$177	$30
Erie	$216	$36
National General	$370	$63
State Farm	$436	$73
Progressive	$458	$77
Nationwide	$817	$138
Farmers	$895	$153
Farm Bureau	$1005	$167
Travelers	$1088	$185
Allstate	$2171	$362

Car Insurance Price Trends in Banner Elk, North Carolina

Car insurance rates in Banner Elk have fluctuated due to factors such as state regulations, inflation, and changing driving habits.

The average cost of full coverage in the Banner Elk rose by $111 in January compared to $106 of December. In other words, there has been an increase by $5 when you compare January and December.

The average cost of liability insurance in the Banner Elk dipped to $49 in January, compared to $51 in December. This represents an decrease of $2 when comparing January and December.

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Frequently Asked Questions

How much is car insurance in Banner Elk?

The car insurance in Banner Elk is $28 per month, which is lower than the national average.

What is the cheapest car insurance in Banner Elk?

The cheapest car insurance in Banner Elk is $64 per month for full coverage.

How much is car insurance in Banner Elk for teenagers?

Car insurance for teenagers costs $486 per 6 months. The rates for teen drivers are higher due to their lack of experience as drivers.

What's the average cost of car insurance in Banner Elk?

The average cost of car insurance is $829 for a six-month policy. It will cost around $129 per month to insure your car in Banner Elk.

Is car insurance expensive in Banner Elk?

Car insurance can be expensive in Banner Elk if your rating factors are not favorable. However, with a clean driving record and good credit score, car insurance rates in Banner Elk can be affordable.

Cheapest Car Insurance Quotes in Banner Elk

Why you can trust Way?

How Much Is Car Insurance in Banner Elk

Avg. Car Insurance in Banner Elk

Avg. Car Insurance in North Carolina

National Average

Cheapest Car Insurance Companies in Banner Elk

1st place: Erie

2nd place: Progressive

3rd place: State Farm

Banner Elk Car Insurance Rates by Company

Cheap Car Insurance Companies in Banner Elk, NC

Way's key takeaways about car insurance in Banner Elk

High Rates Shouldn’t Drive You Out of Pocket.

Cheapest Minimum Liability Car Insurance in Banner Elk

Cheapest Liability Coverage in Banner Elk, NC

Cheapest Full Coverage Car Insurance in Banner Elk

Cheapest Full Coverage Car Insurance Quotes in Banner Elk, NC

Don't Let Hidden Costs Drive You Crazy

Average Car Insurance in Banner Elk by Rating Factor

I have a clean driving record. Why is my car insurance rate here in Banner Elk, NC increasing?

Car Insurance Premiums by Age in Banner Elk

Cheapest Car Insurance Companies Based on Age Group

Cheapest Car Insurance Rates for Teen Drivers in Banner Elk,NC

If you are in your twenties N/A is the best choice for car insurance in Banner Elk.

Car Insurance Rates by Credit Score & Driving History

Cheapest Car Insurance Companies for Bad Credit

Escape the Trap of Rising Insurance Costs.

Car Insurance Rates with An Accident in Banner Elk

Cheapest Car Insurance Companies after an At-Fault Accident in Banner Elk

Banner Elk Car Insurance Rates by Violation

Banner Elk auto insurance quotes by violations

Your Wallet Deserves Better. Seriously.

Avoid Having A DUI On Your Driving Record.

Car Insurance Rates in Banner Elk after a DUI

Banner Elk car insurance quotes with a DUI

Cheapest car insurance after a speeding ticket

Cheapest Car Insurance in Banner Elk after Speeding ticket

Car Insurance Price Trends in Banner Elk, North Carolina

Average Car Insurance Cost in Banner Elk by ZIP Code

Frequently Asked Questions

Tired of Insane Auto Insurance Bills? Us Too!

Find Car Insurance Rates in Cities Near Banner Elk, NC

Car Insurance Rates by State in the USA (2025 Update)

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