It's impossible to miss the catchy commercials from auto insurance companies like Nationwide and Allstate that claim big savings, so you should just choose the one with the most memorable commercial, right?
Unfortunately, it's not that simple as there are many unknowns like how well you maintain your credit, whether you just need liability insurance, whether or not you are currently insured, and if you have points on your license, that all impact the price you pay. We know insurance is not everyone's favorite topic, but in this article we will cover these things and educate you enough to have some help in finding cheaper rates.
Deciphering which companies quote the lowest-priced auto insurance rates for drivers with bad credit takes a bit more effort than just quoting one company's rates.
Each insurer has their own process for determining prices, so we'll take a look at the auto insurance companies with the overall cheapest rates in Raleigh.
Best Cheap Insurance Rates with Bad Credit
|Rank||Company||Cost Per Year|
|5||NC Farm Bureau||$737|
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Progressive normally has some of the most affordable car insurance rates in Raleigh at around $632 a year. Utica National, Liberty Mutual, GEICO, and NC Farm Bureau also qualify as some of the lowest-priced Raleigh, NC insurance companies.
As shown above, if you buy coverage from GEICO and switched to Utica National, you could see yearly savings of roughly $92. Customers with NC Farm Bureau could save as much as $101 a year, and Penn National customers might lower prices by up to $111 a year.
To find cheaper insurance rates for your vehicle, click here or feel free to get quotes from the companies below.
It's important to note that these estimates are averages across all drivers and vehicles and and are not calculated with a vehicle location for drivers with bad credit. So the auto insurance company that has the cheapest rates for you may not even be in the top 20 companies in the list above. That's why you need to compare as many prices as possible using your own driver information and specific vehicle type.
The type of vehicle that needs insurance is one of the main factors in finding low-cost insurance for drivers with bad credit. Vehicles with average performance, advanced safety features, or low incidents of liability claims will cost less to insure than higher performance models. The list below showcases coverage premiums for the most affordable vehicles to buy coverage for.
|Make and Model||Estimated Cost for Full Coverage|
|Jeep Wrangler Sport 4WD 2-Dr||$1,055|
|Ford Escape Limited 4WD||$1,112|
|Hyundai Elantra GLS Touring Station Wagon||$1,153|
|Honda CR-V LX 2WD||$1,161|
|Honda Accord LX 4-Dr Sedan||$1,153|
|Chevrolet Impala LS||$1,187|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,199|
|Honda Civic EX 4-Dr Sedan||$1,251|
|Toyota Corolla XLE||$1,274|
|Toyota Camry SE||$1,281|
|Toyota Tacoma X-Runner 2WD||$1,274|
|Hyundai Sonata GLS 4-Dr Sedan||$1,297|
|Toyota RAV4 4WD||$1,324|
|Honda Odyssey EX||$1,333|
|Ford F-150 Lariat Crew Cab 4WD||$1,351|
|Ford Explorer Limited 2WD||$1,361|
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Rate quotes do not factor in Raleigh, NC location which can decrease or increase coverage prices noticeably.
Looking at the numbers, you can see that makes and models like the Jeep Wrangler, Ford Escape, Hyundai Elantra, Honda CR-V, and Honda Accord will be the more affordable vehicles to insure for people with poor credit. Car insurance rates will tend to be higher because there is a higher risk for drivers with bad credit, but in general those makes and models will probably have the lowest insurance rates possible.
For people with poor credit, one of the more important things that are looked at to help calculate auto insurance rates is where you live in Raleigh. Cities with larger populations tend to pay slightly more, whereas less populated areas have the luxury of cheap car insurance rates.
The illustration below lists the most expensive cities in North Carolina for drivers with bad credit to buy an auto insurance policy in. Raleigh ranks #9 with an annual premium of $760 for coverage, which is about $63 each month.
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Rate information is comparative as the specific geographic location can decrease or increase premiums noticeably.
Impact of citations and accidents on Raleigh insurance rates
In a perfect world, the ideal way to earn affordable auto insurance prices for people with poor credit is to be a cautious driver and avoid getting tickets or having accidents. The diagram below illustrates how traffic citations and at-fault claims impact premium costs for each age group. The information is based on a married female driver, full physical damage coverage, $1,000 deductibles, and no additional discounts are factored in.
In the prior example, the average cost of car insurance in North Carolina per year with a clean driving record and no accidents is $810. Add in two speeding tickets and the average cost hikes up to $1,140, an increase of $330 each year. Now throw in two accidents along with the two speeding tickets and the yearly cost of auto insurance for drivers with bad credit increases to an average of $2,520. That's an increase of $1,710, or $142 per month, just for not driving safely!
Finding a highly-rated car insurance company can be challenging considering how many choices there are in Raleigh. The rank data shown below may help you decide which car insurance providers to look at when trying to find cheaper insurance for drivers with bad credit. These rankings are only made up of large nationwide companies, so companies that may only write in North Carolina are not factored into the list.
Top 10 Major Auto Insurers in Raleigh Ranked by Customer Satisfaction
- USAA - 91%
- AAA Insurance - 90%
- Esurance - 90%
- Nationwide - 89%
- Travelers - 88%
- Progressive - 88%
- Safeco Insurance - 88%
- State Farm - 88%
- Allstate - 88%
- The Hartford - 87%
Don't stick with an overpriced policy
Raleigh auto insurance rates are determined by lots of factors which can substantially change the price you pay for coverage. Simply having another birthday, having a teen driver, or having an at-fault accident can produce rate changes resulting in some companies being more affordable than before.
Not only may your situation change, but companies modify rates multiple times each year to adjust for unexpected claims or profits. Significantly higher claims may cause high rates, while a profitable period may result in lower-priced Raleigh car insurance rates.
The chart below compares the cheapest car insurance in Raleigh, NC for a 35-year-old male driver with a clean driving record, no accidents, and a good credit history. If we estimate prices based on his personal risk profile, Progressive may have the lowest car insurance rates in Raleigh at $742 annually. This is $130 less than the average price paid by North Carolina drivers of $872. Utica National, Liberty Mutual, Penn National, and GEICO are the remainder of the cheapest Raleigh, NC auto insurance companies.
In this example, we will give the driver from the above example an at-fault accident, poor credit, and a few traffic violations. Because each company has their own process to determine rates, analyzing rate quotes may result in a new list of the cheapest car insurance companies in Raleigh as shown below.
Titan now has the lowest price in Raleigh with State Farm, Auto-Owners, National General, and Allied also having competitive pricing. This example proves why Raleigh drivers need to take the time to shop around when trying to get cheap auto insurance quotes for drivers with bad credit. Auto insurance prices are influenced by many risk factors and change frequently, so the best option the last time you shopped around may now not even be in the top five.
How to find the cheapest insurance for drivers with bad credit
The list below summarizes some of the recommended penny-pinching suggestions that can help you locate more affordable coverage.
- The safer your car, the less it costs to insure
- Avoid accidents
- Earn a discount by not filing claims
- Home or renters coverage can save on auto insurance
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Keep rates low by comparing prices once a year
That last tip is extremely necessary, as was stressed in this write-up. Prices charged by car insurance companies can be changed at any time, so don't be afraid to switch carriers if a lower price can be found.
Having a favorite company is great, but it isn't a good idea if that stubbornness costs you hundreds every year. It only take a few minutes to compare prices and find cheaper car insurance for drivers with bad credit in Raleigh.
The agents shown below are a good start to aid you in deciding which policy is best, as many people would rather have a professional recommendation when trying to find lower insurance rates for drivers with bad credit. It can be complicated to find the cheapest auto insurance company, and getting advice from a licensed agent can provide peace of mind knowing you have enough protection.
To locate an agency in your neighborhood, click the link at the bottom or click here to get price quotes now.
Amanda Hagood - State Farm Insurance Agent
5910 Duraleigh Rd #135 - Raleigh, NC 27612 - (919) 834-3615
Wade S Dunbar Insurance
7951 Monument Ln # 201 - Raleigh, NC 27615 - (919) 720-2290
2026 New Bern Ave - Raleigh, NC 27610 - (919) 231-2281
Allstate Insurance: Bonnita Hargis
1620 Martin Luther King Jr Blvd #104 - Raleigh, NC 27610 - (919) 250-3606