Who Has Affordable Raleigh Auto Insurance Rates for Good Students?

The words “low-cost” and “insurance” really should not be used together, especially when you are trying to find the best car insurance rates for good students. In an attempt to save some money, let’s teach you some things that have a considerable impact on auto insurance premiums, and find a way to slash the price of the next policy you buy.

For student drivers, one of the largest considerations that aid in calculating the price you pay for insurance is where your car is garaged in Raleigh. Larger areas tend to pay slightly more, whereas areas with lower crime rates and fewer weather claims tend to receive slightly lower rates.

The illustration below rates the most expensive places in North Carolina for good students to buy auto insurance in. Raleigh shows up at #6 with the annual price of $767 for the average insurance policy, which is around $64 monthly.

How much is car insurance in Raleigh?
Rank City Average Per Year
1 Fayetteville $932
2 Jacksonville $900
3 Charlotte $832
4 Gastonia $803
5 Durham $797
6 Raleigh $767
7 Greensboro $763
8 Greenville $760
9 Wilmington $758
10 Indian Trail $753
11 Cary $749
12 Huntersville $742
13 Goldsboro $735
14 High Point $731
15 Rocky Mount $726
16 Apex $725
17 Wilson $724
18 Hickory $718
19 Salisbury $705
20 Burlington $699
21 Concord $697
22 Chapel Hill $696
23 Winston Salem $688
24 Asheville $681
25 Kannapolis $669
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Rates are comparative as specific Raleigh garaging address can influence prices substantially.

The vehicle model requiring insurance is a large consideration when comparing quotes for economical auto insurance for good students. Vehicles with average performance, advanced safety features, or a positive history of liability claims will cost significantly less to insure than fast, unsafe models.

The list below outlines auto insurance rates for a selection of the most affordable automobiles to buy coverage for.

Cheapest Vehicles to Insure in Raleigh, NC
Make and Model Estimated Cost for Full Coverage
Honda CR-V EX 2WD $3,406
Ford Escape XLT 4WD $3,439
Honda Accord EX-L 4-Dr Sedan $3,654
Hyundai Elantra SE Touring Station Wagon $3,661
Toyota Prius $3,689
Ford Explorer Eddie Bauer 2WD $3,825
Jeep Wrangler Rubicon 4WD 2-Dr $3,835
Chevrolet Impala LS $4,008
Ford Edge SE AWD $4,013
Volkswagen Jetta LE 4-Dr Sedan $4,040
Toyota RAV4 Limited 2WD $4,045
Toyota Camry LE $4,040
Chevrolet Malibu LT $4,075
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Data based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate quotes do not factor in your specific Raleigh, NC location which can modify coverage rates significantly.

Based upon these rates, cars like the Honda CR-V, Ford Escape, Honda Accord, Hyundai Elantra, and Toyota Prius are the most affordable vehicles to insure for student drivers.

Finding decent, cost effective insurance is hard enough, and finding out which company offers the most affordable insurance rates for good students will take additional perseverance.

Every insurance provider uses a different method for filing rates in each state, so let’s take a look at the insurance companies that tend to be cheaper in North Carolina.

Best Cheap Insurance Rates for Students

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Rankings for the cheapest North Carolina auto insurance companies
Rank Company Cost Per Year
1 Progressive $632
2 Utica National $636
3 Liberty Mutual $721
4 NC Farm Bureau $730
5 Penn National $747
6 GEICO $750
7 State Farm $756
8 Titan $759
9 Auto-Owners $878
10 National General $881
11 Erie $922
12 Travelers $927
13 Allied $928
14 Peerless $992
15 Nationwide $1,011
16 Unitrin $1,032
17 Safeco $1,034
18 MetLife $1,049
19 Encompass $1,063
20 Allstate $1,097
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Progressive normally has some of the lowest car insurance rates in Raleigh at around $632 each year. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also make the cut as some of the lowest-priced Raleigh, NC auto insurance companies.

As depicted above, if you are a customer of NC Farm Bureau and switched to Progressive, you could realize an annual savings of in the vicinity of $98. Insureds with Penn National might save as much as $115 a year, and GEICO policyholders might realize rate reductions of up to $118 a year.

Be aware that those rates are averages across all ages of drivers and types of vehicles and do not factor in an exact zip code location for good students. So the company that is best suited for you may not even be in the top 20 companies shown above. That underscores the importance of why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.

How careless driving impacts insurance rates

The common sense way to get the best insurance rates in Raleigh for student drivers is to be a good driver and avoid tickets and accidents. The chart below demonstrates how traffic citations and at-fault fender-benders influence insurance costs for each different age group. The premiums are based on a single male driver, full coverage, $500 deductibles, and no discounts are factored in.

The data above shows the average cost of a car insurance policy in Raleigh per year with no accidents or violations is $1,598. Receive two speeding tickets and the average cost jumps to $2,111, an increase of $513 each year. Then add in two accidents along with the two speeding tickets and the yearly cost of insurance for good students jumps again to an average of $4,100. That’s an increase of $2,502, or $209 per month, just for not paying attention while driving!

Get discount Raleigh auto insurance

Insurance for student drivers in Raleigh, NCAuto insurance companies that offer coverage for good students could also offer price discounts that could potentially reduce rates by 30% or more if you qualify for them. A few of the larger companies and the discounts they provide can be read below.

The diagram below compares car insurance rates with and without discounts. Data assumes a female driver, no claims or driving violations, North Carolina state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with anti-theft, passive restraint, vehicle safety, paperless filing, continuous coverage, and good student discounts applied. When discounts are factored in, the average amount saved each year on insurance for good students is 28% or $643.

The example below illustrates how your deductible choice can impact insurance prices when trying to find cheap insurance for good students. The premiums assume a single female driver, full coverage, and no discounts are applied to the premium.

In the chart above, a 40-year-old driver could save $274 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $416 by switching to a $1,000 deductible. Younger drivers, like the age 20 example, could possibly save as much as $700 or more by choosing a larger deductible amount. When raising deductibles, it will be required to have emergency funds available to offset the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.