Cheap Car Insurance in Raleigh, NC
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UPDATED: Aug 19, 2021
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Are you looking for auto insurance in Raleigh? With AutoInsuranceEZ.com, you will find the lowest priced insurance premiums where you live. To get free car insurance estimates offered by the top providers now, key your local zip code into the quote box in this article.
Raleigh is one of the prestigious members of the “Research Triangle”, a series of three neighboring cities renowned for their research universities. Additionally, the abundance of natural parks, lakes, and agreeable climate make Raleigh a haven for lovers of the outdoors.
- Fun fact: were you aware that Raleigh is #22 on the list of “Top 100 fastest growing cities from 2000 to 2008 (pop. 50,000+)”?
Auto Insurance Coverage Requirements in North Carolina
Driving legally in Raleigh requires:
|Bodily Injury Liability||30,000/60,000||100,000/300,000|
|Property Damage Liability||25,000||50,000|
|Uninsured Motorist Bodily Injury||30,000/60,000||100,000/300,000|
|Medical Payments||Not required||2,000|
|Collision||Not required||250 deductible|
|Comprehensive||Not required||0 deductible|
While purchasing the bare minimum coverage might seem like an affordable option, remember that your provider will only pay out claims if, for whatever reason, the incident was deemed your fault (a.k.a. you are held “liable”) or if you are physically harmed by an uninsured motorist. If someone steals or vandalizes your car, or an act of nature causes severe damage, you will have to pay 100% of the repair/replacement costs.
Throughout North Carolina, the average monthly rate can be as high as $88 for most drivers. However, Raleigh residents may be entitled to paying as low as $28/mo* for their insurance policies. Just keep reading to learn more.
In Raleigh, the most affordable policies are offered by either State Farm or Allied right now. But that rate doesn’t reflect their customer service reputation, nor does it imply a smooth and simple claims processing service. Make sure you aren’t choosing your provider based on low rates alone – or you might end up regretting it.
Auto insurance providers evaluate different elements when figuring out insurance prices, among them marital status, zip code, type of vehicle owned, education, and business use of the vehicle. Moreover, premiums can vary from one company to another. To find out if you are still being charged the best premium, assess cheap Raleigh auto insurance costs online.
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Major Car Insurance Factors in Raleigh
The moment your car insurance company prepares to come up with your insurance plan, they take several specifics into consideration. Many of these, like your real age or maybe your precise region, are difficult to vary. Here are various additional examples:
Your Zip Code
Your auto insurance rates can vary depending on the place you call home. In general, large cities feature increased car insurance rates since the additional amount of car owners on the streets increases the chance of a car accident! The total population of Raleigh amounts to 431,746 and also the common family income is $55,170.
When it comes to automotive insurance, having a high or low rate of serious accidents in your area can automatically raise or lower insurance premiums, respectively. Take a look at the statistics for Raleigh above. If you have concerns, talk to your insurance agent about whether these numbers are raising rates in your area.
Auto Thefts in Raleigh
Automobile theft can be a significant problem, especially in densely populated cities. If your location and/or vehicle model put you at a higher risk for theft, you could have trouble acquiring low-cost car insurance. The total number of stolen vehicles in 2009 was 914 in Raleigh. Theft rates are still fairly low, but on the rise – which means that it’s a good time to take a look at the Comprehensive coverage on your policy.
Your Credit Score
If you are worried about your credit score, take a close look at the chart below. The lower your credit score, the more it will adversely influence your monthly premiums. Drivers with excellent credit can enjoy exceptionally low rates, while poor credit motorists can end up paying twice as much (or more).
Trying to insure a young, teenage driver? Well, it will likely be a difficult and expensive endeavor. This is because accident statistics are highest amongst young and inexperienced teenage drivers. However, good grades can qualify them for a “Good Student” discount, and driver’s ed courses can earn even further discounts.
Your Driving Record
For drivers who have a few minor citations on their record, there are providers out there who might offer you an “Accident Forgiveness” discount, which is a great way to lower your monthly rate if a few speeding tickets are the only reason your premiums are so high.
Luxury vehicles aren’t just more expensive to insure because of their base cost (which means repairs or replacements will be more expensive, too). But you’ll have to pay more for comprehensive coverage of luxury vehicles, as well. After all, most people wouldn’t risk carrying minimum mandatory coverage alone on an expensive, fancy car.
Minor Car Insurance Factors in Raleigh
While these factors below won’t necessarily make as big of an impact, you can take a look at them for potential savings:
Your Marital Status
Want to know how married couples can save on automobile insurance? By bundling, that’s how. When you and your spouse bundle your policies together, you can get some serious savings. And if you have other forms of insurance – such as homeowners, or renters insurance – you can save even more by bundling those as well.
All other factors being equal, it is becoming increasingly rare for insurance companies to charge drastically different rates based on gender alone. Some companies still charge a 2-3% premium difference, but whether that affects males or females depends entirely on the company. Many providers don’t charge a difference based on gender at all.
Your Driving Distance to Work
While Raleigh provides a lot of opportunity in the great outdoors, residents can still count on spending a good amount of time behind the wheel.
Average commute times in Raleigh typically last between 16-18 minutes, but some drivers may spend up to 25 minutes behind the wheel. 76% of drivers will likely take their own vehicle to work, while 12% are likely to carpool.
Some drivers worry about how many miles they drive each year, or whether they’re commuting for work/school or for pleasure. But the truth is that these factors rarely influence your rate by more than a few percentage points. It’s whether or not you drive a business vehicle that makes a big difference – to the tune of 10-12% per month.
Your Coverage and Deductibles
Would you like more than the bare minimum coverage on your vehicle, but don’t want to pay the full-coverage premiums? Talk to your provider about raising your deductible. Yes, in the short term it can increase your expenses should you need to file a claim. But you can save each month over the long term.
Education in Raleigh, NC
Raleigh is a fairly well-educated city, with more than 30% of residents having achieved a bachelor’s degree. If you are a part of this group, you could be in store for some big savings; college graduates are more likely to be offered a lower auto insurance rate than most drivers. 16% of Raleigh residents have also successfully completed their high school diploma.
There are more than a dozen different opportunities to further your education if you live in Raleigh. North Carolina State University is the crown jewel of the city, educating nearly 30,000 students each year. Additionally, the Baptist church is affiliated with several different universities, including Meredith College and Peace College. And if you’d rather spend less time earning a degree, you can look into the Wake Technical Community College.
Discovering inexpensive automobile insurance can certainly become a problem. There’s lots of important information to think about, and understanding precisely how insurance agencies examine your potential risk could be complicated. But try not to permit the wrong insurance agency talk you into purchasing the wrong policy.
How We Conducted Our Car Insurance Analysis
*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.
North Carolina Office of the Commissioner of Banks
You can compute YOUR car insurance risks merely by keying in your Zip Code into the calculator below.