Establishing which companies offer the lowest-priced insurance rates for 17 year olds will take a little more effort in order to find the lowest price quote. Each auto insurer uses their own formula to determine rates, so to begin we’ll rank the insurance companies with the most affordable rates in Raleigh, NC.
Cheapest Insurance Rates for Teens
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $639 |
| 2 | Utica National | $662 |
| 3 | Liberty Mutual | $721 |
| 4 | GEICO | $728 |
| 5 | NC Farm Bureau | $730 |
| 6 | Titan | $737 |
| 7 | Penn National | $739 |
| 8 | State Farm | $749 |
| 9 | Auto-Owners | $852 |
| 10 | National General | $881 |
| 11 | Allied | $901 |
| 12 | Erie | $931 |
| 13 | Travelers | $936 |
| 14 | Peerless | $992 |
| 15 | Unitrin | $1,032 |
| 16 | Nationwide | $1,041 |
| 17 | Encompass | $1,041 |
| 18 | MetLife | $1,049 |
| 19 | Allstate | $1,064 |
| 20 | Safeco | $1,076 |
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Progressive generally has some of the best car insurance rates in Raleigh at around $639 per year. Utica National, Liberty Mutual, GEICO, and NC Farm Bureau also make the cut as some of the most economical Raleigh, NC insurance companies.
In this example, if you are a policyholder with NC Farm Bureau and switched to Utica National, you could see a yearly savings of upwards of $68. Customers with Titan may save as much as $75 a year, and Penn National insureds might realize rate reductions of up to $77 a year.
These estimates are averages for all types of drivers and the different vehicles they drive and are not factoring in an exact zip code location for 17 year olds. So the car insurance company that can offer the best rates for your situation may not even be in the list above. That emphasizes why you need to compare prices as often as possible using your own specific driver and vehicle information.
The make and model of vehicle requiring coverage is probably the most important factor that determines the availability of the best cheap auto insurance for 17 year olds. Vehicles with lots of horsepower, poor passenger safety features, or an increased likelihood of liability claims will cost significantly more to insure than safer, lower-performance models. The list below presents car insurance prices for a number of the most economical vehicles to buy coverage for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $3,406 |
| Ford Escape Limited 4WD | $3,654 |
| Toyota Prius | $3,689 |
| Honda Odyssey LX | $3,792 |
| Dodge Grand Caravan CV | $3,825 |
| Ford F-150 FX2 Super Cab 2WD | $3,832 |
| Ford Explorer XLT 2WD | $3,825 |
| Volkswagen Jetta 2.0T Station Wagon | $3,905 |
| GMC Sierra SLE Crew Cab 2WD | $4,040 |
| Chevrolet Equinox LS AWD | $4,050 |
| Toyota RAV4 Sport 2WD | $4,040 |
| Ford Focus SES 4-Dr Sedan | $4,224 |
| Toyota Corolla LE | $4,256 |
| Ford Edge Sport AWD | $4,265 |
| Chevrolet Impala LTZ | $4,256 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $4,265 |
| Toyota Tacoma X-Runner 2WD | $4,256 |
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Above prices assume 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. Rates do not factor in garaging location in Raleigh, NC which can alter premiums noticeably.
By looking at the data, vehicles like the Honda CR-V, Ford Escape, and Toyota Prius are most likely to be some of the less-costly vehicles to insure for teen drivers. The cost of auto insurance will tend to be more expensive because of the fact that there is more exposure for 17 year olds, but overall those particular models will have the best rates possible.
Selecting the highest-rated auto insurance provider can be rather challenging considering how many choices you have in Raleigh. The rank data below could help you select which companies to look at shopping prices with.
The ratings below include major nationwide insurance companies, so companies without a large exposure will not be included in this list. To compare prices from the most competitive companies in North Carolina, simply click here.
Top 10 Major Auto Insurers Overall in Raleigh
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
Get discounts on Raleigh car insurance rates
Insurers that sell policies for 17 year olds may provide policy discounts that could lower prices by 35% or more if you meet certain criteria. Popular insurance companies and a summarized list of policyholder discounts are outlined below.
- State Farm policyholders can earn discounts including good driver, driver’s education, safe vehicle, Steer Clear safe driver discount, accident-free, and anti-theft.
- Farmers Insurance may include discounts for switch companies, youthful driver, early shopping, distant student, and teen driver.
- Progressive discounts include online quote discount, online signing, multi-vehicle, good student, and homeowner.
- GEICO has discounts for anti-theft, multi-vehicle, five-year accident-free, emergency military deployment, daytime running lights, seat belt use, and federal employee.
- Auto-Owners Insurance offers premium reductions for multi-policy, anti-lock brakes, teen driver, air bags, anti-theft, mature driver, and multiple vehicles.
- The Hartford offers discounts including good student, air bag, anti-theft, bundle, and driver training.
- Farm Bureau may offer discounts for safe driver, good student, youthful driver, 55 and retired, multi-policy, driver training, and renewal discount.
- USAA includes discounts for multi-policy, new vehicle, military installation, multi-vehicle, family discount, vehicle storage, and safe driver.
The information below illustrates the comparison of insurance prices with and without discounts applied to the rates. The costs are based on a male driver, no claims or violations, North Carolina state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with passive restraint, paid-in-full, good student, vehicle safety, paperless filing, and anti-theft discounts applied. When drivers qualify for the discounts, theaverage amount saved on insurance for 17 year olds is 28% or $505.
Why you should be shopping around
Raleigh insurance rates are influenced by many factors which can substantially decrease or increase the policy price. Getting older, buying another vehicle, or having an accident can cause premium changes resulting in some companies being more affordable than the competition.
In addition, insurers modify pricing multiple times each year to ensure their profitability. Higher than normal claim frequency or severity may result in more expensive premiums, while a profitable period can cause lower-cost Raleigh car insurance rates.
To illustrate this example, the graph below shows the companies that have the cheapest car insurance in Raleigh, NC for a 40-year-old female driver with no violations or accidents, and a decent credit rating. When quoting prices based on her current situation, Progressive has the most affordable car insurance rates in Raleigh at $689 per year. This is $183 less than the average premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and GEICO are also included in the cheapest Raleigh, NC auto insurance companies.
Now we will pretend the driver in the first chart some claims, bad credit, and a traffic ticket or two. Due to the fact that every insurance company has their own unique process for setting rates, analyzing rate quotes may now present a different list of the cheapest companies as shown below.
Penn National now has the best insurance rate in Raleigh, NC with State Farm, Auto-Owners, Utica National, and National General also being competitive. This example shows why Raleigh drivers need to compare lots of rates to find the most economical car insurance rates for 17 year olds. Car insurance prices consist of many things and change substantially, so the best company six months ago may now be one of the higher cost companies.