Who Has Cheap Raleigh Auto Insurance for High School Students?

The type of vehicle driven is one of the primary factors that determines the availability of economical car insurance for high school students. Vehicles with lots of horsepower, a lack of safety features, or an increased likelihood of liability claims will cost significantly more to insure than safer models.

The next list showcases coverage premiums for a handful of the most economical automobiles to insure in North Carolina.

Cheapest Vehicles to Insure in Raleigh, NC
Insured Vehicle Estimated Cost for Full Coverage
Honda CR-V LX 2WD $3,839
Honda Accord LX 4-Dr Sedan $3,849
Ford Escape XLT 4WD $3,875
Toyota Prius $4,145
Ford F-150 XLT Regular Cab 2WD $4,286
Ford Explorer XLT AWD $4,321
Ford Focus SE 4-Dr Sedan $4,520
Chevrolet Equinox LT 2WD $4,555
Volkswagen Jetta LE 4-Dr Sedan $4,564
Chevrolet Malibu LS $4,555
Toyota RAV4 Sport 2WD $4,561
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $4,591
Dodge Grand Caravan Crew $4,597
Toyota Corolla XLE $4,787
Chevrolet Impala LTZ $4,793
Nissan Altima 2.5 S 4-Dr Sedan $4,787
Hyundai Elantra GLS 4-Dr Sedan $4,795
Toyota Camry SE $4,787
Ford Edge Sport AWD $4,795
Honda Odyssey EX-L W/Navigation $4,787
Jeep Grand Cherokee Limited 4WD $4,823
GMC Sierra SLT Crew Cab 2WD $4,828
GMC Sierra 2500HD SLE Extended Cab 4WD $4,823
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Cost estimates assume single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in specific zip code location which can revise insurance rates considerably.

Looking at the rates, we can conclude that vehicles like the Honda CR-V, Honda Accord, Ford Escape, and Toyota Prius are a few of the more affordable vehicles to insure for teenagers. Prices will be higher anyway because there is more liability exposure for high school students, but in general those particular vehicles will probably have the cheapest car insurance rates that you’ll find.

Determining which company quotes the lowest-priced auto insurance rates for high school students will take a tad more effort in order to find the best price.

Every auto insurer has their own formula for setting rates, so let’s take a look at the auto insurance companies with the most affordable rates in North Carolina. We do need to point out that Raleigh auto insurance rates are determined by lots of factors which can substantially change the cost of having a policy. Improving your credit rating, buying a home, or getting a couple of tickets can trigger rate changes resulting in some companies being cheaper than before.

Cheap Insurance Rates for Students

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Rankings for the cheapest car insurance companies in North Carolina
Rank Company Cost Per Year
1 Utica National $643
2 Progressive $651
3 NC Farm Bureau $709
4 Liberty Mutual $721
5 Titan $729
6 Penn National $747
7 GEICO $750
8 State Farm $772
9 Auto-Owners $844
10 National General $881
11 Allied $901
12 Travelers $927
13 Erie $931
14 Peerless $962
15 Unitrin $1,032
16 MetLife $1,038
17 Nationwide $1,041
18 Safeco $1,044
19 Encompass $1,073
20 Allstate $1,097
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Utica National generally has some of the lowest car insurance rates in Raleigh at around $643 a year. This is $229 less than the average price paid by North Carolina drivers of $872. Progressive, NC Farm Bureau, Liberty Mutual, and Titan would also make the list of some of the cheaper Raleigh, NC auto insurance companies.

In the rate table above, if you currently buy coverage from Titan and switched to Progressive, you may see a yearly savings of about $78. Drivers with Penn National may save as much as $96 a year, and GEICO customers might cut rates by $99 a year.

To find the cheapest coverage for you, click here to get quotes or feel free to get quotes from the companies below.

Understand that those estimates are averages for all drivers and vehicles in North Carolina and are not factoring in an exact location for high school students. So the auto insurance company that has the lowest price for you may not even be in the list above. That points out the importance of why you need to quote rates from many companies using your own specific driver and vehicle information.

The chart below illustrates how your deductible choice can increase or decrease insurance rates when trying to find cheap insurance for high school students. The premiums are based on a single female driver, comp and collision included, and no additional discounts are factored in.

The data above shows that a 30-year-old driver could lower their policy premium by $268 a year by increasing from a $100 deductible up to a $500 deductible, or save $406 by changing to a $1,000 deductible. Even younger insureds, like the age 20 example, can save as much as $602 or even more just by choosing higher deductibles. If you do decide to increase your deductibles, it will now be necessary to have plenty of savings on hand to cover the extra out-of-pocket expense that deters many people from opting for higher deductibles.

Illustration showing the impact of accidents and violations

In a perfect world, the best way to obtain the most affordable auto insurance premiums for teenagers is to be an attentive driver and maintain a clean driving record. The information below shows how speeding tickets and at-fault collisions can raise annual premium costs for different ages of insureds. The price estimates are based on a married female driver, comp and collision included, $100 deductibles, and no discounts are taken into consideration.

The chart shows that the average cost of car insurance in Raleigh per year with a clean driving record and no accidents is $1,504. Factor in one speeding ticket and the average cost surges to $1,750, an increase of $245 each year. Now add in one accident along with the one speeding ticket and the annual cost of auto insurance for high school students jumps again to an average of $2,449. That’s an increase of $945, or $79 per month, just for being a less-than-perfect driver!

Shop around and save

Raleigh, NC auto insurance rates are impacted by many factors that can increase the price you pay. Simply turning a year older, buying a home instead of renting, or having a fender bender can cause premium changes that can make some companies cheaper than others.

And not only may your rating factors change, but auto insurance companies change the rates they charge in North Carolina multiple times each year to help ensure profitability. An unexpected high level of claims can result in rate increases, while a profitable period may produce cheaper Raleigh car insurance rates.

The bar chart below shows which company has the cheapest car insurance in Raleigh, NC for a 35-year-old female driver with no prior accidents, a clean driving record, and great credit. If we look at prices based on her current risk factors, Utica National has the most affordable car insurance rates in Raleigh at $717 annually. This is $155 less than the average premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and Penn National also make the list of the most affordable Raleigh, NC auto insurance companies.

In this example, we will give the driver from above a chargeable claim, slightly worse credit, and a traffic ticket or two. Since each company uses their own method to set premium rates, analyzing rates may now show a different list of affordable companies as shown below.

GEICO now has the lowest price on auto insurance in Raleigh with Titan, Auto-Owners, National General, and Allied completing the list. This illustrates why it is critical to compare rates when trying to find the cheapest auto insurance rates for high school students. Insurance rates are impacted by many factors and change frequently, so the cheapest option the last time you shopped around may now be wasting a lot of money.