Who Has Affordable Auto Insurance for College Students in Raleigh?

For students in college, one of the more important things that are used to help calculate the amount you pay each year for auto insurance is where your residence is in Raleigh. Regions with more people or even just more weather-related claims will most likely pay more, whereas less populated areas get the luxury of paying less.

The next table sorts the priciest cities in North Carolina for college students to buy an auto insurance policy in. Raleigh is listed at #7 with an annual premium of $767 for the average insured, which is around $64 each month.

How much is car insurance in Raleigh?
Rank City Annual Premium
1 Fayetteville $905
2 Jacksonville $873
3 Charlotte $808
4 Gastonia $787
5 Wilmington $781
6 Cary $772
7 Raleigh $767
8 Durham $765
9 Greenville $760
10 Huntersville $756
11 Greensboro $756
12 Indian Trail $753
13 Apex $747
14 Goldsboro $743
15 Rocky Mount $740
16 High Point $731
17 Wilson $724
18 Hickory $718
19 Winston Salem $716
20 Salisbury $712
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Prices are approximated as vehicle location can modify coverage prices considerably.

Trying to find low-cost car insurance is not always easy, and determining which company has the cheapest insurance rates for college students takes even more shopping around.

Every car insurance company has their own guidelines for determining prices, so we’ll go over the lowest cost insurance companies in Raleigh. It’s important to understand that North Carolina insurance rates are based on many factors which can substantially decrease or increase the cost of your policy. Things like having a birthday, increasing deductibles, or getting a DUI can trigger price changes that can make some companies cheaper than before.

Best Insurance Companies for College Students

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What’s the cheapest car insurance in North Carolina?
Rank Company Cost Per Year
1 Utica National $636
2 Progressive $651
3 GEICO $720
4 Liberty Mutual $728
5 NC Farm Bureau $730
6 Titan $737
7 Penn National $747
8 State Farm $749
9 Auto-Owners $844
10 National General $881
11 Erie $895
12 Allied $919
13 Travelers $936
14 Peerless $962
15 Nationwide $1,011
16 Unitrin $1,012
17 MetLife $1,018
18 Encompass $1,031
19 Safeco $1,066
20 Allstate $1,086
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Utica National normally has some of the best car insurance rates in Raleigh at around $636 annually. This is $236 less than the average premium paid by North Carolina drivers of $872. Progressive, GEICO, Liberty Mutual, and NC Farm Bureau are also some of the cheaper Raleigh, NC car insurance companies.

In this example, if you currently have coverage with Liberty Mutual and switched to Utica National, you may see an annual premium reduction of around $92. Drivers with NC Farm Bureau might save as much as $94 a year, and Titan policyholders might realize rate reductions of up to $101 a year.

To compare your rates to other North Carolina insurance companies, click here to start your free quote or quote rates from the companies below.

Bear in mind that those policy rates are averages across all drivers and vehicles and do not factor in an exact location for college students. So the car insurance company that has the cheapest price for you may not even be in the list above. That affirms the importance of why you need to get auto insurance quotes using your own driver information and specific vehicle type.

The vehicle model that needs insurance is a large factor when comparing quotes for economical coverage for college students. Vehicles with more horsepower, poor safety ratings, or an increased likelihood of liability claims will cost more to insure than safer, lower-performance models.

The list below ranks auto insurance rates for a handful of the most budget-friendly automobiles to buy insurance for.

Cheapest Vehicles to Insure in Raleigh, NC
Make and Model Estimated Cost for Full Coverage
Honda Accord EX 4-Dr Sedan $2,220
Ford Escape XLS 2WD $2,228
Honda CR-V EX 4WD $2,254
Toyota Prius $2,427
Ford Edge SE 2WD $2,457
Ford F-150 XL Super Cab 2WD $2,462
Dodge Grand Caravan SE $2,491
Ford Explorer Eddie Bauer 2WD $2,497
Volkswagen Jetta 2.0T Station Wagon $2,571
Toyota RAV4 Limited 4WD $2,632
Jeep Grand Cherokee Laredo 2WD $2,638
Chevrolet Malibu LS $2,632
Toyota Tacoma Double Cab 4WD $2,664
Jeep Wrangler Unlimited Sahara 2WD 4-Dr $2,739
Ford Focus SEL 4-Dr Sedan $2,741
Toyota Camry XLE $2,776
Honda Odyssey EX-L $2,783
Chevrolet Impala LTZ $2,776
Hyundai Elantra GLS 4-Dr Sedan $2,785
GMC Sierra 2500HD SLE Extended Cab 4WD $2,808
Toyota Corolla XRS $2,818
Chevrolet Equinox LTZ 2WD $2,808
GMC Sierra SLE Crew Cab 2WD $2,816
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Data variables include single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, and safe-driver. Price information does not factor in the specific area where the vehicle is garaged which can decrease or increase coverage prices substantially.

Looking at the data, vehicles like the Honda Accord, Ford Escape, Honda CR-V, and Toyota Prius are some of the less-costly vehicles to insure for students in college. Rates will be more expensive because there is more liability exposure for college students, but in general those particular vehicles will tend to have the best insurance prices compared to all other vehicles.

Choosing the highest-rated auto insurance provider can be a challenge considering how many companies there are in North Carolina. The information shown next can help you decide which coverage providers to look at when shopping car insurance rates for college students.

These ratings include companies that insure vehicles nationwide, so companies that focus mainly on North Carolina business are not included in these rankings. To view rates from the most competitive companies in North Carolina, simply click here.

Top 10 Large Auto Insurance Companies in Raleigh Ranked by A.M. Best Rating

  1. Travelers – A++
  2. USAA – A++
  3. GEICO – A++
  4. State Farm – A++
  5. Titan Insurance – A+
  6. Esurance – A+
  7. Progressive – A+
  8. Nationwide – A+
  9. The Hartford – A+
  10. Allstate – A+

Top 10 Large Auto Insurance Companies in Raleigh Ranked by Value

  1. Travelers
  2. American Family
  3. AAA Insurance
  4. Safeco Insurance
  5. Progressive
  6. The Hartford
  7. The General
  8. 21st Century
  9. Esurance
  10. Titan Insurance

Types of discounts on Raleigh insurance

Discounts on insurance for college studentsInsurers that offer coverage for college students may also provide rate discounts that could lower prices by 30% or more if you meet the requirements. A few of the larger companies and some of the discounts are:

The information below compares insurance rates with and without discounts applied to the rates. The premiums assume a male driver, no claims or driving violations, North Carolina state minimum liability limits, full physical damage coverage, and $250 deductibles.

The first bar for each age group shows the price with no discounts. The lower bar shows the rates with continuous coverage, passive restraint, anti-theft, vehicle safety, paid-in-full, and good student discounts applied. In this example, theaverage amount saved on insurance for college students is 19% or $330.

The chart below demonstrates how deductibles can change insurance rates when trying to find cheap insurance for college students. The prices are based on a single male driver, full physical damage coverage, and no discounts are factored in.

A 50-year-old driver could cut expenses by $286 a year by increasing from a $100 deductible up to a $500 deductible, or save $432 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old example, could drop their prices as much as $944 each year by choosing larger deductibles on their policy. If you do decide to increase your deductibles, it is necessary to have spare funds to be able to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.