Who Has Cheap Raleigh Auto Insurance Quotes for a 20 Year Old Male?

One of the more important things that help determine insurance cost is where you choose to live. Areas with more people or higher crime rates tend to have higher rates, whereas areas that tend to be more rural benefit from lower prices.

The table below shows the highest-priced areas in North Carolina for 20 year old guys in which to buy car insurance. Raleigh is listed at #12 with the annual price of $737 for coverage, which is about $61 monthly.

How much is auto insurance in Raleigh, NC?
Rank City Annual Rate
1 Fayetteville $905
2 Jacksonville $891
3 Charlotte $808
4 Gastonia $803
5 Durham $765
6 Greensboro $763
7 Wilmington $758
8 Huntersville $756
9 High Point $745
10 Cary $742
11 Greenville $738
12 Raleigh $737
13 Goldsboro $735
14 Wilson $732
15 Indian Trail $731
16 Apex $725
17 Rocky Mount $718
18 Hickory $718
19 Winston Salem $716
20 Salisbury $712
21 Chapel Hill $703
22 Kannapolis $697
23 Concord $697
24 Burlington $671
25 Asheville $667
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Annual rates are comparative as the specific area where the vehicle is garaged can decrease or increase premiums substantially.

Determining which company quotes the most affordable insurance rates for 20 year old guys requires more time in order to find the best price.

Every insurance company uses their own calculation to set their prices, so let’s take a look at the insurance companies that tend to have lower prices in Raleigh, NC. It’s important that readers know that North Carolina insurance rates are calculated based on many things which can significantly increase or decrease the price of your policy. Simply having a birthday, increasing liability limits, or getting a couple of tickets can trigger changes in premium that can cause some rates to be cheaper than competitors.

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Utica National offers some of the most affordable car insurance rates in Raleigh at around $636 per year. Progressive, NC Farm Bureau, Penn National, and GEICO are also some of the more affordable Raleigh, NC auto insurance companies.

In this example, if you are a policyholder with Progressive and switched to Utica National, you might realize annual savings of roughly $22. Insureds with NC Farm Bureau could save as much as $73 a year, and Penn National insureds might lower prices by up to $81 a year.

To get a quick, customized rate comparison, click here or click through to the companies below.

Bear in mind that those prices are averages for all insureds and vehicles and and are not figured with an exact vehicle garaging location for 20 year old guys. So the auto insurance company that fits your age and vehicle best may not even be in the list above. That illustrates why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.

The vehicle requiring coverage is a large factor when shopping for cheaper insurance for 20 year old guys. Vehicles with lower acceleration and performance, modern passenger safety features, or a positive history of liability claims will cost significantly less to insure than high performance models. The data below outlines insurance prices for some of the more affordable automobiles to insure in North Carolina.

Cheapest Vehicles to Insure in Raleigh, NC
Make, Model, and Trim Level Estimated Cost for Full Coverage
Honda CR-V EX 2WD $2,611
Honda Accord LX-P 4-Dr Sedan $2,618
Ford Escape XLS 4WD $2,611
Toyota Prius $2,880
Ford Explorer XLT AWD $2,905
Ford F-150 STX Super Cab 4WD $2,944
Chevrolet Impala LS $3,059
Toyota Tacoma 2WD $3,065
Volkswagen Jetta 2.0T Station Wagon $3,075
Chevrolet Equinox LS AWD $3,097
Dodge Grand Caravan Hero $3,102
Jeep Grand Cherokee Laredo 4WD $3,097
Toyota RAV4 Sport 2WD $3,105
Chevrolet Malibu LT $3,136
Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr $3,138
Ford Focus SES 4-Dr Sedan $3,254
Hyundai Elantra Blue 4-Dr Sedan $3,262
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Prices above based on single male driver age 20, 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 the specific area where the vehicle is garaged which can influence coverage rates significantly.

Based on these rates, we can presume that vehicles like the Honda CR-V, Honda Accord, Ford Escape, Toyota Prius, and Ford Explorer will definitely be a few of the less-costly vehicles to insure for young men. The cost of auto insurance will trend higher because there is more liability risk for 20 year old guys, but in general those particular vehicles will probably have the best rates compared to other types of vehicles.

Full coverage versus liability only rates

Saving money when shopping for insurance is the goal of most people, and one great way to save on the cost of insurance for 20 year old guys is to buy liability only. The chart below shows the difference between insurance costs with full physical damage coverage and with liability coverage only. The rates are based on no violations or accidents, $500 deductibles, drivers are not married, and no discounts are factored in.

If averaged for all ages, physical damage insurance costs an additional $1,573 per year over and above liability only. That amount may make you wonder if buying full coverage is a waste of money. There is no set guideline to eliminate comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

There are some circumstances where dropping physical damage coverage is not advised. If you haven’t satisfied your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should keep full coverage.

The chart below illustrates how choosing a deductible can increase or decrease premium costs when trying to find cheap insurance for 20 year old guys. The information is based on a married female driver, full coverage, and no discounts are taken into consideration.

The data above shows that a 30-year-old driver could lower rates by $274 a year by increasing from a $100 deductible up to a $500 deductible, or save $416 by switching to a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could save as much as $588 or even more just by choosing larger deductibles.

If you make the decision to raise deductibles, it is a good idea to have additional savings on hand to be able to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Why you are probably overpaying for car insurance

Raleigh insurance rates are influenced by many factors which can significantly increase or decrease the price you have to pay for coverage. Improving your credit rating, getting divorced, or getting a ticket for running a stop sign can trigger price changes that can cause some rates to be cheaper than others.

And not only may your rating factors change, but insurance companies modify pricing multiple times each year to ensure their profitability. An unexpected high level of claims can cause a rate increase, while lower claim levels may produce lower-cost Raleigh car insurance rates.

As an example, the data below shows which company has the cheapest car insurance in Raleigh, NC for a 35-year-old male driver with no violations or accidents, and a good credit rating. If we estimate rates based on his personal risk profile, Utica National has the cheapest car insurance rates in Raleigh at $720 annually. This is $152 less than the average price paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and GEICO round out the rest of the cheapest Raleigh, NC auto insurance companies.

Now let’s give the driver from the first rate comparison some claims, bad credit, and a few blemishes on his driving record. Since each auto insurance company uses their own method for setting rates, comparing insurance quotes may result in a different ranking of the cheapest companies as shown below.

Titan now has the cheapest insurance rate in Raleigh, NC with State Farm, Auto-Owners, Travelers, and National General now being in the top five. This shows why Raleigh drivers need to compare rates to get the lowest insurance quotes for 20 year old guys. Auto insurance prices are determined by many things and can increase or decrease at any time, so the most economical option a year ago may now be quite expensive.