For new drivers, one of the largest components that are looked at to help calculate insurance cost is where your residence is. Areas with more people or higher crime rates tend to have more expensive car insurance rates, whereas less populated areas have the benefit of cheaper car insurance.
The following table ranks the most expensive places in North Carolina for 16 year olds to purchase auto insurance in. Raleigh shows up at #7 with an annual cost of $767 on average, which is approximately $64 per month.
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Information shown are estimated as the specific area where the vehicle is garaged can increase or decrease insurance rates greatly.
Finding reliable, budget insurance is not most people’s favorite thing to do, and finding out which companies offer the best insurance rates for 16 year olds takes even more shopping around.
Each auto insurer uses their own calculation to establish rates, so let’s take a look at the overall cheapest insurance companies in Raleigh, NC. It’s important that you understand Raleigh insurance rates are impacted by many factors which can substantially change the price you have to pay for coverage. Getting older, getting divorced, or getting a couple of tickets may generate price changes that can now make some companies more affordable than competitors.
Find Cheaper Auto Insurance for Teens
|Rank||Company||Cost Per Year|
|4||NC Farm Bureau||$737|
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Utica National may have some of the lowest car insurance rates in Raleigh at around $636 annually. This is $236 less than the average price paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and Penn National are also some of the more affordable Raleigh, NC insurance companies.
In the above rates, if you currently have coverage with Progressive and switched to Utica National, you might realize annual savings of in the vicinity of $3. Customers with Liberty Mutual could save as much as $64 a year, and NC Farm Bureau insureds might see rate reductions of $101 a year.
To discover how much you can save, click here or visit any of the companies below.
Remember that these policy rates are averaged across all drivers and vehicles in North Carolina and are not factoring in an exact vehicle garaging location for 16 year olds. So the auto insurance company that has the cheapest price for you may not even be in the top 20 companies in the list above. That emphasizes why you need to get rate quotes from many companies using your own individual information.
The type of vehicle requiring insurance is one of the largest considerations when trying to find the cheapest car insurance for 16 year olds. Vehicles with limited top-end speed, advanced safety features, or a low likelihood of liability claims will cost less to insure than higher performance models.
The information below ranks coverage premiums for a number of the more affordable automobiles to buy insurance for.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$4,377|
|Hyundai Elantra SE Touring Station Wagon||$4,643|
|Ford Escape Limited 4WD||$4,652|
|Honda Accord EX-L 4-Dr Sedan||$4,643|
|Dodge Grand Caravan CV||$4,875|
|Ford Explorer XLT AWD||$4,883|
|Volkswagen Jetta 2.0T Station Wagon||$4,950|
|Ford Edge Limited 2WD||$5,100|
|Chevrolet Malibu LS||$5,140|
|Toyota RAV4 Limited 4WD||$5,147|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$5,182|
|Ford F-150 Lariat Crew Cab 2WD||$5,191|
|Toyota Tacoma Double Cab 4WD||$5,182|
|Ford Focus SES 4-Dr Sedan||$5,365|
|Honda Civic LX 4-Dr Sedan||$5,372|
|Chevrolet Impala LTZ||$5,405|
|Toyota Camry SE||$5,415|
|Jeep Wrangler Unlimited Sport 4WD 4-Dr||$5,443|
|GMC Sierra 2500HD SLE Crew Cab 4WD||$5,448|
|Jeep Grand Cherokee Limited 4WD||$5,456|
|Chevrolet Silverado 2500HD LTZ Crew Cab 4WD||$5,448|
|Honda Odyssey Touring||$5,457|
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Prices based on single male 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 location information which can increase or decrease rates substantially.
Looking at the data, we can assume that makes and models like the Honda CR-V, Hyundai Elantra, Ford Escape, Honda Accord, and Toyota Prius are going to be a few of the cheaper vehicles to insure for new drivers. Prices will tend to be higher just due to the fact that there is more exposure for 16 year olds, but overall those particular models will most likely have the cheapest rates compared to other vehicles.
Insurance rate increases from tickets or accidents
A great way to snag affordable insurance premiums for new drivers is to drive attentively and avoid accidents and keep your driving record clean. The diagram below demonstrates how speeding tickets and at-fault accidents can raise car insurance rates for different ages of insureds. The price estimates are based on a married female driver, comp and collision included, $1,000 deductibles, and no discounts are applied.
The chart shows that the average cost of an auto insurance policy in North Carolina per year with no accidents or violations is $1,089. Add in two speeding tickets and the average cost rises to $1,537, an increase of $449 each year. Then throw in one accident along with the two speeding tickets and the annual cost of insurance for 16 year olds jumps again to an average of $1,996. That’s an increase of $908, or $76 per month, just for not keeping your driving record clean!
Which insurance company is best in North Carolina?
Selecting a highly-rated insurance company can be challenging considering how many different companies insure vehicles in North Carolina. The company information below can help you select which companies to look at comparing prices from.
The ratings below are for companies that insure vehicles nationwide, so smaller companies that only insure vehicles in North Carolina will not be included in this list. If you’d like to compare prices and find the cheapest rates for 16 year olds, click here.
Top 10 Large Auto Insurance Providers Overall in Raleigh
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
- American Family
Don’t make the mistake of not shopping around
North Carolina insurance rates are calculated based on many things that control the cost of a policy. Improving your credit score, getting married, or getting a speeding ticket may prompt premium changes resulting in some rates now being more affordable than before. In addition to those changes, insurance companies modify pricing as needed to reflect underwriting profits or losses. Heavier than normal losses can result in more expensive prices, while a profitable period can result in cheaper Raleigh car insurance rates.
For example, the data below demonstrates which company has the cheapest car insurance in Raleigh, NC for a 35-year-old female driver with a good driving record, no prior claims, and excellent credit. When quoting prices based on her personal risk profile, Progressive has the lowest car insurance rates in Raleigh at $734 each year. This is $138 less than the average premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, Penn National, and NC Farm Bureau round out the rest of the most affordable Raleigh, NC auto insurance companies.
The example below compares rates after we give the driver in the first example an accident surcharge, bad credit, and a traffic citation. Since each insurance company has a proprietary method to determine rates, getting updated rate quotes may now show a different set of affordable Raleigh car insurance companies as shown below.
State Farm now has the lowest car insurance rate in Raleigh, NC with GEICO, Auto-Owners, Utica National, and National General now rounding out the top five. This example illustrates why drivers need to shop around with many companies to get the most budget-friendly insurance rates for 16 year olds.
Car insurance prices are impacted by many different factors and change substantially, so the most economical option when you last compared rates may now be an over-priced policy.
The insurance agencies listed below can probably aid you in deciding which policy fits your needs best, since some drivers aren’t sure which coverage they need and prefer to have some professional guidance when shopping around for cheaper insurance for 16 year olds. It’s not always easy to find the best coverage yourself, so a licensed agent can give satisfaction knowing you have adequate coverage when you need it most.
To locate an agency using an interactive map, click the button link following the list or click here to get price quotes now.
Green and Wooten Insurance
800 Salem Woods Dr – Raleigh, NC 27615 – (919) 870-0021
4505 Falls of Neuse Rd Suite 350 – Raleigh, NC 27609 – (919) 781-0200
Suzanne Wilson – State Farm Insurance Agent
8961 Harvest Oaks Dr #205 – Raleigh, NC 27615 – (919) 870-1413
Durfey-Hoover-Bowden Insurance Agency
3741 Benson Dr – Raleigh, NC 27609 – (919) 790-6415
Allstate Insurance: Jay Adkins
1033 Oberlin Rd Ste 200 – Raleigh, NC 27605 – (919) 755-1133
How to find low-cost auto insurance for 16 year olds
The list below summarizes a few money-saving ideas that can help North Carolina drivers find more affordable car insurance.
- Buying your home and auto policies from the same company can earn a discount
- Save money by observing traffic laws and speed limits
- Avoid accidents and claims
- Safe vehicles cost less to insure
- Claim-free policyholders usually earn a discount
- Compare prices frequently to find the best deal
The final tip is certainly critical, as we noted in the prior article. Coverage prices change a lot, so drivers shouldn’t be reluctant to switch to a new company if you find a better deal.
Having brand loyalty is commendable, but it’s not a great idea if it’s costing you a small fortune year after year. Now is a great time to compare prices and find cheaper auto insurance for 16 year olds in Raleigh.