The words “low-priced” and “auto insurance” really don’t belong together, specifically when you are looking for the cheapest car insurance for homeowners. To help control this cost, let’s start off by going over some of the factors the can have a considerable influence on insurance prices, and figure out some ways to take the bite out of the next policy you buy.
Finding decent, low-cost auto insurance is challenging, and finding out which company has the most affordable auto insurance rates for homeowners requires a little more work.
Each auto insurer uses their own calculation for setting rates, so let’s take a look at the most competitive auto insurance companies in North Carolina. We do need to point out that North Carolina auto insurance rates are based on many factors that will increase or decrease the price you have to pay. This price fluctuation is why it is important to perform an extensive rate comparison to get the most economical insurance rates for homeowners. Prices are influenced by many factors and can change without notice, so the most economical option when you bought your policy may now be quite expensive.
Lowest Insurance Price Quotes for Homeowners
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $632 |
| 2 | Utica National | $662 |
| 3 | NC Farm Bureau | $709 |
| 4 | Penn National | $725 |
| 5 | Liberty Mutual | $728 |
| 6 | GEICO | $742 |
| 7 | Titan | $751 |
| 8 | State Farm | $779 |
| 9 | Auto-Owners | $878 |
| 10 | Erie | $895 |
| 11 | National General | $917 |
| 12 | Travelers | $927 |
| 13 | Allied | $928 |
| 14 | Peerless | $962 |
| 15 | MetLife | $1,007 |
| 16 | Nationwide | $1,041 |
| 17 | Unitrin | $1,042 |
| 18 | Allstate | $1,054 |
| 19 | Encompass | $1,063 |
| 20 | Safeco | $1,066 |
| Find Your Rate Go | ||
Progressive generally has some of the most affordable car insurance rates in Raleigh at around $632 a year. This is $240 less than the average policy premium paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, Penn National, and Liberty Mutual also make the cut as some of the more affordable Raleigh, NC car insurance companies.
As shown in the table above, if you are currently insured with Liberty Mutual and switched to Utica National, you may realize an annual savings of upwards of $66. Policyholders with GEICO may save as much as $80 a year, and Titan insureds might lower prices by up to $89 a year.
Understand that those premium estimates are averages across all insureds and vehicles and are not factoring in a specific location for homeowners. So the insurer that fits your needs best may not even be in the list above. That illustrates why you need to get auto insurance quotes using your own specific driver and vehicle information.
For people who own their homes, one of the largest components that are looked at to determine the amount you pay each year for auto insurance is where you live. Areas with a lot of weather claims or more people are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates profit from lower rates.
The table below lists the highest-priced places in North Carolina for homeowners to buy car insurance in. Raleigh makes the list at #14 with a yearly cost of $737 for the average insurance policy, which is around $61 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Fayetteville | $896 |
| 2 | Jacksonville | $873 |
| 3 | Charlotte | $816 |
| 4 | Gastonia | $811 |
| 5 | Cary | $765 |
| 6 | Durham | $765 |
| 7 | Goldsboro | $758 |
| 8 | Wilmington | $758 |
| 9 | Huntersville | $756 |
| 10 | Greensboro | $756 |
| 11 | Indian Trail | $753 |
| 12 | Greenville | $752 |
| 13 | Wilson | $746 |
| 14 | Raleigh | $737 |
| 15 | High Point | $731 |
| 16 | Rocky Mount | $726 |
| 17 | Apex | $725 |
| 18 | Chapel Hill | $724 |
| 19 | Hickory | $718 |
| 20 | Winston Salem | $716 |
| 21 | Salisbury | $712 |
| 22 | Kannapolis | $697 |
| 23 | Concord | $690 |
| 24 | Asheville | $681 |
| 25 | Burlington | $671 |
| Get a Custom Quote Go | ||
Information shown are approximated as specific Raleigh garaging address can revise premiums greatly.
Which auto insurance company is best in Raleigh?
Choosing the top insurer can be a challenge considering how many choices there are in Raleigh. The company information below can help you choose which car insurance providers you want to consider when shopping insurance around for homeowners. These rankings only include the largest companies in the United States, so companies that only write business in North Carolina or surrounding areas are not taken into consideration for these rankings.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
| 21st Century | 86 | 82 | 90 | 84% | A | 86.4 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Full coverage versus liability only rates
Buying cheaper auto insurance is important to most people, and one great way to find cheaper insurance for homeowners is to not buy comprehensive and collision coverage. The illustration below compares annual premium costs with full physical damage coverage and with liability coverage only. The prices are based on a clean driving record, no claims, $500 deductibles, single marital status, and no policy discounts are applied.
If we average the cost for ages 20 through 70, physical damage insurance costs an additional $1,181 per year over having just liability coverage. Many of you may wonder if paying for full coverage is a waste of money. There is no definitive guideline for dropping physical damage insurance, but there is a general convention. If the yearly cost of full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.
Discounts on Raleigh insurance
Insurance providers that offer cheap quotes for homeowners could also offer policy discounts that could potentially reduce rates by as much as 30% if you qualify for them. A list of auto insurance companies and their offered discounts are outlined below.
- State Farm policyholders can earn discounts including anti-theft, Steer Clear safe driver discount, driver’s education, good driver, multiple autos, safe vehicle, and Drive Safe & Save.
- Liberty Mutual includes discounts for good student, multi-policy, new move discount, new graduate, and new vehicle discount.
- American Family offers premium reductions for good student, TimeAway discount, accident-free, multi-vehicle, good driver, mySafetyValet, and defensive driver.
- Progressive may offer discounts for online quote discount, multi-vehicle, homeowner, multi-policy, good student, online signing, and continuous coverage.
- Farmers Insurance may have discounts that include teen driver, pay in full, bundle discounts, good student, early shopping, and homeowner.
- Auto-Owners Insurance has savings for air bags, group or association, multiple vehicles, good student, and anti-lock brakes.
- SAFECO offers discounts including accident prevention training, anti-lock brakes, teen safe driver, homeowner, multi-car, bundle discounts, and teen safety rewards.
The diagram below illustrates the comparison of car insurance rates with and without some available policy discounts. The data assumes a male driver, no violations or claims, North Carolina state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with passive restraint, marriage, anti-theft, safe-driver, multiple vehicle, and defensive driving course discounts applied. When these discounts are applied to the policy premium, theaverage amount saved on auto insurance for homeowners is 27% or $398.
You may be paying too much for car insurance
Raleigh auto insurance rates are calculated based on many things which can substantially decrease or increase the price you have to pay for coverage. Improving your credit score, buying higher coverage limits, or getting a driving violation may prompt premium changes that can now make some companies more affordable than before.
Also, companies file new rates at least once a year as an adjustment for underwriting gains or losses. Higher than normal claim frequency or severity can result in higher rates, while less frequent claims can produce more affordable Raleigh car insurance rates.
The chart below demonstrates which company has the cheapest car insurance in Raleigh, NC for a 35-year-old female driver with no accidents, a clean driving record, and solid credit. If we compare prices based on her current rating profile, Utica National quotes the most affordable car insurance rates in Raleigh at $729 a year. This is $143 less than the average policy premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, Penn National, and NC Farm Bureau round out the rest of the top five cheapest Raleigh, NC auto insurance companies.
In this example, we will give the driver in the first example an accident surcharge, a lower credit score, and a few traffic violations. Since each auto insurer has a different formula for determining rates, analyzing rates may now present a different ranking of companies as shown below.
Titan now has the best auto insurance rate in Raleigh, NC with State Farm, Auto-Owners, National General, and Erie now being in the top five. This illustrates why consumers need to take the time to take the time to shop around when trying to find the cheapest car insurance quotes for homeowners.
Auto insurance prices can be determined by many risk factors and change dramatically, so the lowest-price company the last time you checked may now not even be in the top five.
The insurance agencies below can provide answers to your questions and help you determine which car insurance company is the best fit, since lots of drivers aren’t clear which coverage they need and would like to get help from a professional when buying car insurance for homeowners. It’s not always easy to do it yourself, and getting advice from a licensed agent can give you peace of mind knowing you have enough protection.
To find an agent near you, click the button at the bottom.
- Alex Burt – State Farm Insurance Agent
3021 Berks Way #102 – Raleigh, NC 27614 – (919) 435-1417 - Vincent Boone – State Farm Insurance Agent
7850 Alexander Promenade PI #105 – Raleigh, NC 27617 – (919) 957-9009 - Doug Wingate – State Farm Insurance Agent
2414 Wycliff Rd #110 – Raleigh, NC 27607 – (919) 787-0888 - Hix Insurance Center
2010 New Bern Ave – Raleigh, NC 27610 – (919) 255-6210