Who Has Affordable Auto Insurance Rates for Drivers Over Age 70 in Raleigh?

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.

Car insurance prices in Raleigh
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.

Cheapest Vehicles to Insure in Raleigh, NC
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 for older drivers in Raleigh, NCInsurance 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.

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.

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