Who Has Cheap Auto Insurance Rates for Drivers Under 21 in Raleigh?

The words “bargain” and “insurance” probably shouldn’t be used together, specifically when you are shopping around for the lowest insurance prices for drivers under 21. Let’s go over a few of the factors that can significantly affect car insurance prices, and come up with some ideas to take the sting out of your next policy.

For minors, one of the more important considerations that help determine car insurance rates is your address in Raleigh. Areas with more people or even just a higher incidence of claims will most likely have higher rates, whereas areas with lower crime rates and fewer weather claims have the benefit of cheaper car insurance.

The table below lists the priciest cities in North Carolina for drivers under 21 to buy car insurance in. Raleigh is listed at #11 costing $744 for car insurance, which is about $62 monthly.

Car insurance prices in Raleigh
Rank City Annual Rate
1 Fayetteville $896
2 Jacksonville $864
3 Charlotte $840
4 Gastonia $803
5 Durham $789
6 Cary $765
7 Huntersville $764
8 Greensboro $763
9 Wilmington $758
10 High Point $753
11 Raleigh $744
12 Goldsboro $743
13 Hickory $740
14 Indian Trail $731
15 Greenville $730
16 Wilson $724
17 Rocky Mount $718
18 Apex $717
19 Salisbury $712
20 Chapel Hill $703
21 Winston Salem $695
22 Asheville $681
23 Burlington $678
24 Kannapolis $669
25 Concord $669
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Table data uses approximated as the specific garaging location can lower or raise coverage rates considerably.

The vehicle that is being insured is a large consideration when comparison shopping for low-priced coverage for drivers under 21. Vehicles with limited speed and performance, good safety features, or a low likelihood of liability claims will cost much less to insure than fast, unsafe models.

The next list ranks coverage premiums for a selection of the cheapest vehicles to buy insurance for.

Cheapest Vehicles to Insure in Raleigh, NC
Make and Model Estimated Cost for Full Coverage
Honda Accord EX 4-Dr Sedan $2,161
Honda CR-V EX-L 2WD $2,192
Ford Escape XLT 4WD $2,198
Hyundai Elantra SE Touring Station Wagon $2,329
Toyota Prius $2,361
Dodge Grand Caravan SE $2,422
Chevrolet Impala LS $2,527
Ford Edge SEL 2WD $2,535
Toyota Tacoma 2WD $2,527
Toyota RAV4 Limited 4WD $2,559
Toyota Camry LE $2,564
Chevrolet Silverado LT Extended Cab 4WD $2,559
Chevrolet Malibu LS $2,569
Volkswagen Jetta LE 4-Dr Sedan $2,559
GMC Sierra SLE Crew Cab 2WD $2,567
Ford Explorer Limited 4WD $2,590
Dodge Ram 3500 Crew Cab Laramie 2WD $2,600
Ford F-150 Lariat Super Cab 2WD $2,590
Jeep Wrangler Unlimited Sport 4WD 4-Dr $2,667
Ford Focus SES 4-Dr Sedan $2,677
Honda Odyssey EX-L W/Rear Entertainment $2,698
Toyota Corolla XRS $2,730
GMC Sierra 2500HD SLE Extended Cab 4WD $2,736
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Premium data assumes single female 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. Price information does not factor in Raleigh, NC location which can change coverage prices significantly.

Looking at the rates, you can figure that cars like the Honda Accord, Honda CR-V, and Ford Escape are a few of the more affordable vehicles to insure for minors. The price for car insurance will be more costly because there is more inherent risk for drivers under 21, but generally speaking those particular models will have the cheapest auto insurance rates compared to other types of vehicles.

Finding out which company offers the best auto insurance rates for drivers under 21 requires a tad more effort in order to find the lowest price quote. Every insurance provider uses their own formula for setting rates, so let’s look at the rankings for the auto insurance companies that tend to have lower prices in North Carolina.

It’s important to understand that Raleigh auto insurance rates are impacted by many things that may substantially change the cost of having a policy. Simply turning a year older, getting married, or having an at-fault accident can cause premium changes resulting in some companies being cheaper than competitors.

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Cheapest North Carolina auto insurance companies
Rank Company Cost Per Year
1 Progressive $632
2 Utica National $662
3 Liberty Mutual $707
4 NC Farm Bureau $716
5 Titan $729
6 GEICO $742
7 Penn National $747
8 State Farm $749
9 Auto-Owners $844
10 Allied $892
11 National General $908
12 Travelers $909
13 Erie $931
14 Peerless $1,002
15 Unitrin $1,012
16 Safeco $1,034
17 Nationwide $1,041
18 MetLife $1,049
19 Encompass $1,063
20 Allstate $1,086
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Progressive may offer some of the best car insurance rates in Raleigh at around $632 a year. Utica National, Liberty Mutual, NC Farm Bureau, and Titan would also make the list of some of the most economical Raleigh, NC car insurance companies.

As illustrated above, if you are a customer of Titan and switched to Utica National, you could earn a yearly savings of in the vicinity of $67. Drivers with GEICO may save as much as $80 a year, and Penn National policyholders might reduce prices by as much as $85 a year.

If you would like to find cheaper car insurance rates, click here to start your free quote or click through to the companies below.

Understand that those prices are averaged across all types of insureds and vehicles and and are not calculated with an exact zip code location for drivers under 21. So the auto insurance company that is most affordable for your situation may not even be in the top 20 companies shown above. That emphasizes why you need to get quotes using your own specific driver and vehicle information.

Do you need full coverage?

Buying cheaper auto insurance is probably important to the majority of people, and one common way to lower the cost of insurance for drivers under 21 is to not buy full coverage. The information below illustrates the difference between insurance costs with full physical damage coverage compared to only buying liability only. The premiums assume no accidents, no driving violations, $500 deductibles, drivers are not married, and no additional discounts are factored in.

If the expense is averaged for all age categories, comprehensive and collision coverage on your policy costs $1,181 per year more than buying just liability insurance. That is a large expense and it proposes the question if it’s a good idea to buy full coverage. There is no set rule of when to eliminate physical damage coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it might be time to consider dropping full coverage.

There are some situations where buying only liability insurance is not advised. If you still have a lienholder on your title, you have to keep full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle in case of an accident, you should keep full coverage in place.

Choosing the right auto insurance provider can be difficult considering how many companies there are in Raleigh. The company ratings in the lists below could help you select which insurers you want to consider when trying to find the cheapest insurance for drivers under 21.

The ratings below include the largest companies in the United States, so companies that focus mainly on North Carolina business are not taken into consideration for these rankings. To compare prices from these top insurers and more, click here.

Top 10 Large Auto Insurers in Raleigh Ranked by Claims Service

  1. Travelers
  2. Nationwide
  3. Allstate
  4. State Farm
  5. Liberty Mutual
  6. GEICO
  7. American Family
  8. Esurance
  9. Titan Insurance
  10. AAA Insurance

Top 10 Large Auto Insurers in Raleigh Ranked by Value

  1. Travelers
  2. American Family
  3. AAA Insurance
  4. Safeco Insurance
  5. Progressive
  6. The Hartford
  7. The General
  8. 21st Century
  9. Esurance
  10. Titan Insurance

The example below demonstrates how choosing different deductibles can affect insurance prices when searching for cheap insurance for drivers under 21. The information is based on a married female driver, comp and collision included, and no additional discounts are factored in.

In the chart above, a 50-year-old driver could lower their car insurance rates by $230 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $344 by switching to a $1,000 deductible. Younger drivers, like the 20-year-old example, could roll back prices up to $568 or more just by choosing larger deductibles. When insureds make the decision to increase the deductibles on their policy, it is necessary to have enough savings set aside to allow you to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

How to find cheaper auto insurance for drivers under 21

Lowering your rates is not difficult, and here are some thrifty solutions that can help Raleigh drivers find cheaper car insurance.

That last tip is extremely critical, as we noted in the article above. Auto insurance rates in Raleigh adjust often, so don’t hesitate to switch to a new company if a more affordable price is available. Many consumers stick with the same company and that’s fine, but it’s not recommended if it’s costing you money that could be going to better use. It only take a few minutes to compare prices and find cheaper auto insurance for drivers under 21.

The insurance agents in Raleigh listed below can most likely help you decide which is the best policy, since some drivers aren’t sure which coverage they need and prefer to have professional advice when shopping for the best coverage for minors. It can be hard to find the best policy on your own, and a professional agent can add comfort knowing your policy gives you adequate protection in case of an accident or claim. To find an auto insurance agency using an interactive map, click the button link following the list or click here to compare prices now.

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