For older drivers, one of the more important things that determine auto insurance rates is your address in Raleigh. Regions with larger populations or more claims tend to pay slightly more, whereas less populated areas benefit from lower rates.
The following table rates the most expensive areas in North Carolina for drivers over age 60 in which to buy car insurance. Raleigh shows up at #12 with a yearly cost of $737 on average, which is around $61 monthly.
|Rank||City||Premium Per Year|
|Quote Best Rates Go|
Annual rates are estimated as specific Raleigh garaging address can affect insurance rates greatly.
Establishing which companies offer the best auto insurance rates for drivers over age 60 takes more time in order to find the best policy. Every insurance provider used slightly different criteria to set premium rates, so to begin we’ll rank the lowest cost auto insurance companies in Raleigh.
Cheap Insurance Rates for Age 60+
|Rank||Company||Cost Per Year|
|4||NC Farm Bureau||$709|
|Find Your Rate Go|
Progressive generally has some of the best car insurance rates in Raleigh at around $632 each year. This is $240 less than the average policy premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and GEICO are also some of the best Raleigh, NC car insurance companies.
As depicted above, if you are a policyholder with NC Farm Bureau and switched to Utica National, you might see yearly savings of around $54. Drivers with GEICO could save as much as $73 a year, and Titan insureds might reduce prices by as much as $82 a year.
To find out how your current rates compare, click here to start your custom quote or visit any of the low-priced companies below.
Understand that those prices are averages across all ages of drivers and types of vehicles and are not factoring in an exact location for drivers over age 60. So the auto insurance company that has the lowest price for you may not even be in the top 20 companies in the list above. That emphasizes why you need to compare prices as often as possible using your own personal information and vehicle type.
North Carolina auto insurance companies
Insuring your vehicle with the best insurance company is difficult considering how many choices there are in North Carolina. The ranking data shown below could help you decide which companies to look at when shopping around.
These rankings are for the largest auto insurers in America, so smaller companies that only insure vehicles in North Carolina are not factored into the list. To compare rates from these and other top-rated companies, simply click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|Compare Rates Now Go|
Data Source: Insure.com Best Car Insurance Companies
Should you buy full coverage?
Saving money on auto insurance is the goal of the majority of vehicle owners, and one of the quickest ways to pay lower rates for insurance for drivers over age 60 is to not insure for full coverage. The chart below shows the comparison of auto insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes a clean driving record, no at-fault accidents, $500 deductibles, drivers are single, and no discounts are factored in.
If all age groups are averaged, full coverage costs $1,598 per year more than just buying liability only. That is a large expense which might make you wonder if buying full coverage is worth the money. There isn’t a written rule for phasing out full coverage, but there is a general school of thought. If the annual cost of your full coverage insurance is more than about 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
The benefits of price comparisons
North Carolina auto insurance rates are impacted by many things that may substantially change the policy premium. Turning one year older, increasing liability limits, or getting a reckless driving citation can trigger price changes that may make certain companies cheaper than competitors. Not only may your situation change, but auto insurance companies change premium rates as needed in order to offset underwriting gains or losses. A period of increased losses can result in higher prices, while lower claim levels may produce cheaper Raleigh car insurance rates.
For instance, the chart below demonstrates which company has the cheapest car insurance in Raleigh, NC for a 45-year-old female driver with no accidents, a clean driving record, and excellent credit. If we look at prices based on her personal risk profile, Utica National offers the most affordable car insurance rates in Raleigh at $722 a year. This is $150 less than the average price paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and Penn National also make the list of the cheapest Raleigh, NC auto insurance companies.
Now we will pretend the driver from the first rate comparison a chargeable claim, a little lower credit rating, and a stop sign violation. Due to the fact that every insurance company uses their own method for filing rates in each state, comparing insurance quotes most likely will result in a different list of companies as shown below.
GEICO now has the cheapest rate in Raleigh with State Farm, Auto-Owners, Erie, and Progressive completing the list. This example shows why consumers need to take the time to take the time to shop around when trying to find the cheapest car insurance rates for drivers over age 60. Car insurance prices are determined by many risk factors and change dramatically, so the best price six months ago may now be quite expensive.
How to find budget-friendly insurance for drivers over age 60
It is possible to find better rates, and here are many money-saving solutions that can help drivers get low-cost auto insurance.
- Buying car and homeowners insurance together can save money
- Good credit can save money
- The safer your car, the less it costs to insure
- Maintain a safe distance and avoid accidents
- Full coverage may not be needed on older vehicles
- Shop around for cheaper rates regularly
That last piece of advice is certainly important, as we hit on in the article above. Prices charged by auto insurers fluctuate constantly, so drivers shouldn’t be reluctant to buy a different policy if a lower price can be found. Having a favorite company is great, but it’s not a good idea if that loyalty results in overpaying big bucks every year. It only takes a couple minutes to compare rates to find cheaper auto insurance for drivers over age 60 in Raleigh.