For older drivers, one of the more important factors that are looked at to determine the cost of insurance is where you normally keep your vehicle in Raleigh. Areas with a lot of weather claims or more people tend to pay slightly more, whereas areas with less crime or weather claims have the benefit of cheaper auto insurance prices.
The information below ranks the most expensive cities in North Carolina for drivers over age 70 to buy car insurance in. Raleigh is listed at #14 having an annual price of $744 for coverage, which is around $62 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Fayetteville | $932 |
| 2 | Jacksonville | $900 |
| 3 | Charlotte | $840 |
| 4 | Gastonia | $787 |
| 5 | Wilmington | $781 |
| 6 | Greensboro | $779 |
| 7 | Durham | $765 |
| 8 | Greenville | $760 |
| 9 | Huntersville | $756 |
| 10 | Apex | $747 |
| 11 | Wilson | $746 |
| 12 | Indian Trail | $745 |
| 13 | High Point | $745 |
| 14 | Raleigh | $744 |
| 15 | Goldsboro | $743 |
| 16 | Cary | $742 |
| 17 | Rocky Mount | $740 |
| 18 | Hickory | $711 |
| 19 | Concord | $697 |
| 20 | Chapel Hill | $696 |
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Rates are comparative as specific Raleigh zip code can change auto insurance rates substantially.
The vehicle model you are insuring is a large factor when shopping for the best cheap auto insurance for drivers over age 70. Vehicles with limited top-end speed, good crash test ratings, or low incidents of liability claims will cost significantly less to insure than adrenaline junky models.
The next table features auto insurance rates for a handful of the cheaper automobiles to buy coverage for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $1,279 |
| Honda Accord LX 4-Dr Sedan | $1,284 |
| Honda CR-V EX 2WD | $1,279 |
| Ford F-150 XL Regular Cab 2WD | $1,337 |
| Toyota Prius | $1,397 |
| Ford Explorer XLT 4WD | $1,437 |
| Honda Odyssey EX | $1,495 |
| Chevrolet Impala LS | $1,503 |
| Jeep Grand Cherokee Laredo 4WD | $1,515 |
| Toyota RAV4 2WD | $1,521 |
| Dodge Grand Caravan Hero | $1,515 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,534 |
| Chevrolet Silverado LS Regular Cab 2WD | $1,539 |
| Ford Focus SES 4-Dr Sedan | $1,573 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,583 |
| Ford Edge Sport AWD | $1,594 |
| Toyota Camry SE | $1,604 |
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Data rating is based on single male driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in vehicle garaging location which can revise prices greatly.
Looking at the rates, you can presume that models like the Ford Escape, Honda Accord, Honda CR-V, and Ford F-150 are most likely going to be some of the less-costly vehicles to insure for older drivers. Prices will trend higher because there is more liability exposure for drivers over age 70, but overall those makes and models will tend to have the cheapest car insurance rates that you’ll find.
Careless driving habits raise Raleigh insurance rates
The best way to maintain low insurance premiums in North Carolina for older drivers is to be a good driver and have a clean driving record. The information below highlights how speeding tickets and at-fault accidents raise car insurance rates for different insured age categories. The rate quotes are based on a married male driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of auto insurance in Raleigh per year with no violations or accidents is $1,189. Receive one speeding ticket and the average cost surges to $1,369, an increase of $180 each year. Now throw in two accidents along with the one speeding ticket and the yearly cost of insurance for drivers over age 70 jumps again to an average of $3,069. That’s an increase of $1,879, or $157 per month, just for not driving carefully!
How to get discounts on Raleigh insurance rates
Insurance companies that sell policies for drivers over age 70 may also give you policy discounts that could reduce prices by 25% or more if you meet eligibility requirements. A few popular companies and some of the discounts are outlined below.
- 21st Century offers premium reductions for theft prevention, good student, automatic seat belts, anti-lock brakes, driver training, homeowners, and defensive driver.
- Progressive may include discounts for continuous coverage, homeowner, online quote discount, multi-vehicle, good student, and online signing.
- State Farm has savings for Steer Clear safe driver discount, anti-theft, passive restraint, multiple policy, student away at school, good student, and driver’s education.
- Nationwide offers discounts including easy pay, business or organization, Farm Bureau membership, accident-free, and anti-theft.
- Esurance offers discounts for multi-car, online quote, Pac-12 alumni, online shopper, and good student.
- The Hartford includes discounts for anti-theft, bundle, good student, defensive driver, driver training, vehicle fuel type, and air bag.
The example below shows the difference between insurance prices with and without policy discounts. The premiums are based on a male driver, no accidents or driving violations, North Carolina state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with passive restraint, claim-free, accident-free, defensive driving course, marriage, and safe-driver discounts applied. When taking advantage of discounts, theaverage yearly reduction on insurance for drivers over age 70 is 28% or $290.
Price comparison of only insuring for liability
Saving money on insurance should be important to the majority of drivers, and a great way to buy cheaper insurance for drivers over age 70 is to buy only liability coverage. The illustration below illustrates the comparison of insurance premiums with full coverage and liability only. The rate quotes are based on no accidents or driving violations, $100 deductibles, drivers are single, and no discounts are applied.
If we average all the age groups together, physical damage coverage on your policy costs an additional $1,596 per year more than just buying liability insurance. At some point, about every driver wonders if physical damage coverage is worth the money. There is no definitive rule for eliminating physical damage coverage on your policy, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.
There are a few cases where buying only liability insurance is not recommended. If you haven’t satisfied your loan, you have to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should maintain full coverage.
If you aren’t sure which coverage to buy and prefer to have professional advice when shopping for the best coverage for drivers over age 70, the professional agents shown below can help you decide which car insurance company is the best fit.
To locate a Raleigh car insurance agency close to you, click the button at the bottom of the list or click here to compare price quotes.
- G. Suggs Insurance Agency, Inc.
1025 Bullard Ct – Raleigh, NC 27615 – (919) 875-8889 - Green and Wooten Insurance
800 Salem Woods Dr – Raleigh, NC 27615 – (919) 870-0021 - AssuredPartners NL
4505 Falls of Neuse Rd Suite 350 – Raleigh, NC 27609 – (919) 781-0200 - Doug Wingate – State Farm Insurance Agent
2414 Wycliff Rd #110 – Raleigh, NC 27607 – (919) 787-0888 - Independent Insurance Agents of North Carolina Inc
101 Weston Oaks Ct – Cary, NC 27513 – (919) 828-4371