How Much are Raleigh Car Insurance Rates for Homeowners?

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.

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Rankings for the cheapest car insurance companies in North Carolina
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
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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.

Car insurance prices in Raleigh
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
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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.

Best 15 Auto Insurance Companies for Homeowners in Raleigh
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
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Data Source: 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

Save on auto insurance for people who own their homes in RaleighInsurance 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.

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.

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