For financially responsible drivers, one of the big considerations that help determine insurance cost is where you keep your car. Larger areas likely pay more, whereas areas with lower crime rates and fewer weather claims tend to receive cheaper rates.
The illustration below sorts the highest-priced areas in North Carolina for drivers with good credit in which to buy car insurance. Raleigh is ranked at #6 with the yearly price of $767 for coverage, which is around $64 per month.
|Rank||City||Premium Per Year|
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Annual rates are comparative as specific Raleigh zip code can decrease or increase insurance rates noticeably.
Establishing which companies quote the cheapest auto insurance rates for drivers with good credit requires a little more work than just comparing a company or two. Each insurance company has a different process to determine rates, so we need to take a look at the overall cheapest auto insurance companies in Raleigh.
We do need to point out that Raleigh, NC auto insurance rates are based on many factors that can increase the price of your policy. Simply turning a year older, buying a new vehicle, or getting a few speeding tickets may generate price changes that can make some companies cheaper in comparison to the competition.
Cheap Insurance Rates for High Credit
|Rank||Company||Cost Per Year|
|4||NC Farm Bureau||$709|
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Progressive generally has some of the lowest car insurance rates in Raleigh at around $632 each year. This is $240 less than the average price paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National are also some of the more affordable Raleigh, NC insurance companies.
As illustrated above, if you currently buy coverage from Penn National and switched to Utica National, you might achieve an annual savings of in the vicinity of $82. Customers with Titan might save as much as $86 a year, and GEICO insureds might reduce rates by $99 a year.
To find the cheapest rates for your vehicle, click here to get a free quote or visit any of the companies below.
It’s important to note that these policy prices are averages across all types of drivers and the different vehicles they drive and do not factor in an exact zip code location for drivers with good credit. So the company that has the cheapest rates for you may not even be in the list above. That point stresses why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.
The vehicle model needing coverage is a large factor that determines whether or not you find low-cost auto insurance for drivers with good credit. Vehicles with lower performance, a plethora of safety features, or a positive history of liability claims will cost quite a bit less to insure than adrenaline junky models.
The table below showcases car insurance prices for some of the most affordable vehicles to insure.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$968|
|Honda Accord LX-P 4-Dr Sedan||$974|
|Ford Escape XLT 2WD||$1,106|
|Honda Civic LX-S 4-Dr Sedan||$1,180|
|Hyundai Elantra GLS Touring Station Wagon||$1,184|
|Toyota Corolla S||$1,200|
|Jeep Grand Cherokee Limited 4WD||$1,222|
|Chevrolet Malibu LTZ||$1,232|
|GMC Sierra 3500HD SLT Extended Cab 2WD||$1,244|
|Ford Focus SE 4-Dr Sedan||$1,282|
|Toyota RAV4 2WD||$1,307|
|Ford F-150 XL Regular Cab 4WD||$1,327|
|Dodge Grand Caravan SE||$1,333|
|Toyota Tacoma X-Runner 2WD||$1,376|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,383|
|GMC Sierra SLE Crew Cab 4WD||$1,400|
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Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Rate information does not factor in specific location which can influence price quotes noticeably.
Looking at the numbers, you can expect makes and models like the Honda CR-V, Honda Accord, Toyota Prius, and Ford Escape are likely to be a few of the cheaper vehicles to insure for financially responsible drivers.
The example below highlights how deductible selection can affect insurance prices when quoting cheap insurance for drivers with good credit. The premiums assume a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
The data above shows that a 50-year-old driver could save $286 a year by switching from a $100 deductible to a $500 deductible, or save $432 by switching to a $1,000 deductible. Younger drivers, such as the 20-year-old example, could save up to $944 or even more by choosing larger deductibles on their policy.
If you do decide to increase your deductibles, it is necessary to have plenty of discretionary funds to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
Types of discounts on Raleigh car insurance
Insurers that provide policies for drivers with good credit may also give you price discounts that can lower rates by as much as 30% if you qualify for them. Popular auto insurance companies and a partial list of their discounts can be found below.
- GEICO may include discounts for emergency military deployment, daytime running lights, anti-theft, driver training, military active duty, anti-lock brakes, and seat belt use.
- Travelers has discounts for student away at school, multi-policy, payment discounts, driver training, and hybrid/electric vehicle.
- Farm Bureau offers premium reductions for renewal discount, driver training, youthful driver, safe driver, and good student.
- Liberty Mutual has savings for new vehicle discount, preferred payment discount, safety features, teen driver discount, and new graduate.
- American Family may have discounts that include air bags, defensive driver, accident-free, early bird, good driver, Steer into Savings, and multi-vehicle.
- Progressive offers discounts including multi-policy, online quote discount, continuous coverage, good student, online signing, and homeowner.
The information below visualizes the comparison of car insurance costs with and without some available policy discounts. The premiums assume a male driver, a clean driving record, no claims, North Carolina state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with multiple policy, accident-free, marriage, claim-free, multiple vehicle, and safe-driver discounts applied. In this example, theaverage yearly reduction on auto insurance for drivers with good credit is 28% or $494.
Irresponsible driving raises your rates
The easiest way to earn affordable auto insurance premiums in Raleigh for financially responsible drivers is to drive cautiously and not have accidents or get tickets. The chart below demonstrates how citations and at-fault fender-benders drive up auto insurance costs for different ages of insureds. The data assumes a single male driver, full coverage, $100 deductibles, and no discounts are taken into consideration.
In the example above, the average cost of an auto insurance policy in Raleigh per year with no violations or accidents is $1,596. Get two speeding tickets and the average cost jumps to $2,121, an increase of $525 each year. Now throw in one accident along with the two speeding tickets and the annual cost of auto insurance for drivers with good credit goes up to an average of $2,647. That’s an increase of $1,052, or $88 per month, just for being a little careless behind the wheel!
Why you should be comparing rates
Raleigh, NC auto insurance rates are impacted by many factors that will increase or decrease your annual premium. Simply having a birthday, buying a home instead of renting, or getting a DUI can trigger rate changes that can make some companies more affordable than before. Not only may your risk profile change, but companies amend premium rates every year in order to offset underwriting gains or losses. Unexpectedly high claims may cause more expensive prices, while lower claims can cause cheaper Raleigh car insurance rates.
The chart below shows the company with the cheapest car insurance in Raleigh, NC for a 30-year-old female driver with no accidents, a clean driving record, and a good credit rating. When comparing rates based on her current risk factors, Utica National might quote the lowest car insurance rates in Raleigh at $731 per year. This is $141 less than the average premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, Penn National, and GEICO are also included in the best Raleigh, NC auto insurance companies.
The example below compares rates after we give the driver from the first rate comparison an accident surcharge, slightly worse credit, and a traffic ticket or two. Since each auto insurance company has a proprietary method for filing rates in each state, comparing prices will most likely result in a different set of affordable Raleigh car insurance companies as shown below.
NC Farm Bureau now has the best price in Raleigh, NC with State Farm, Auto-Owners, National General, and Allied completing the list. This example shows why consumers need to take the time to shop around to get the best auto insurance rates for drivers with good credit. Rates are influenced by many things and can change without notice, so the cheapest company the last time you shopped around may now be wasting a lot of money.