Cheapest and Best Car Insurance in Cary, NC (June 2024)

In Cary, North Carolina Farm Bureau offers the lowest rates for full and minimum coverage policies. State Farm is the cheapest for families with teens, while Erie provides the best customer service. North Carolina Farm Bureau is rated best overall for its affordable price and quality service. The ideal choice for you depends on your preferences and coverage needs.

MoneyGeek found that the following companies offer the cheapest car insurance in Cary:

• North Carolina Farm Bureau: $257 per year
• State Farm: $272 per year

Kemper offers the most expensive policy in Cary with an annual premium of $803. This significant price difference — $546 between the cheapest and the most expensive — underscores the importance of comparing car insurance rates to ensure cost savings.

Across North Carolina, from the tech hubs of Raleigh to the quaint streets of Cary, the rules are the same: state law prescribes the minimum car insurance coverage you must have. Here's what the basic package covers:

• $30,000 bodily injury per person
  
• $60,000 bodily injury per accident
  
• $25,000 property damage liability per accident
  
• $30,000 uninsured motorist bodily injury per person
  
• $60,000 uninsured motorist bodily injury per accident
  
• $25,000 uninsured/underinsured property damage coverage
  

If you're involved in an accident where you are at fault, your minimum coverage policy will pay up to $30,000 for each person's injuries and up to $60,000 total per accident. Once those limits are hit, you're on the hook for any excess. Drive safe, and consider your coverages carefully.

MoneyGeek found the cheapest full coverage car insurance in Cary. Here are the top two providers:

• North Carolina Farm Bureau: $495 per year
• State Farm: $496 per year

Kemper has the most expensive full coverage policy in the city at $1,394 annually, which is $899 more than North Carolina Farm Bureau. This significant price variance highlights the importance of comparing rates, especially considering full coverage policies include comprehensive and collision coverage, inherently raising their cost compared to minimum coverage options.

A full coverage policy includes $100,000 per individual and $300,000 per accident, alongside $100,000 for property damage liability per incident. This level of coverage is succinctly termed a 100/300/100 policy.

Full coverage policies not only expand liability limits but also include both comprehensive and collision coverages:

• Collision Insurance: This provides coverage for your vehicle in the event of a collision, whether with another vehicle or or a stationary object like a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Insurance: This coverage insures your vehicle against various types of damage not caused by collisions, including theft, vandalism, fires, natural disasters and being struck by an animal like a deer.

Opting for full coverage insurance is a wise choice for new vehicle owners to protect their investment thoroughly. That said, for those with older vehicles, the cost of additional coverage may surpass its value given the lower risk of significant financial loss.

When deciding on the extent of car insurance that fits your needs, it is essential to weigh the higher premiums of more comprehensive coverage against the danger of inadequate protection.

MoneyGeek found the cheapest company for drivers with a poor driving record in Cary for all three offenses:

• Speeding Ticket: North Carolina Farm Bureau ($704 per year)
• At-Fault Accident: North Carolina Farm Bureau ($648 per year)
• DUI: North Carolina Farm Bureau ($1,762 per year)

Kemper has the most expensive rates for these offenses. The annual premiums demonstrate a substantial difference based on the severity of the traffic violation, as illustrated by the $1,058 disparity between the cheapest company after a speeding ticket and the cheapest following a DUI.

Insurance rates often escalate with the severity of a driving infraction because insurers view higher-risk behaviors as leading indicators for potential claims. In Cary, for example, annual premiums for those with a DUI soar to approximately $3,978 compared to $1,588 for individuals with a speeding ticket. This substantial difference underscores the necessity for drivers with violations to diligently compare insurance rates, ensuring they secure the most cost-effective coverage for their specific circumstances.

MoneyGeek found the most affordable options in Cary, offering the cheapest car insurance for teens. Below are the two most cost-effective providers:

• State Farm: $1,102 per year for female and male teens
• Nationwide: $1,328 per year for female and male teens

These rates are for a policy covering two parents and a teen driver, reflecting the significant variation in costs among providers. GEICO holds the most expensive teen family policy in the city, priced at $3,983 annually for females — around $2,881 more than State Farm. This highlights the necessity of comparing quotes, especially with teens regarded as high-risk drivers.

In Cary and similar localities, teen drivers face significantly higher car insurance premiums when purchasing individual policies as opposed to joining a family plan. The average annual premium for an individual teen policy is approximately $2,932 compared to $2,307 when added to a family policy. This stark difference is primarily due to insurers viewing teen drivers as high-risk, coupled with the lack of a more experienced driver's history to balance the risk.

MoneyGeek found the cheapest car insurance for drivers with military backgrounds in Cary:

• North Carolina Farm Bureau: $495 per year
• State Farm: $496 per year

While North Carolina Farm Bureau leads with the lowest rates for military families, it's worth mentioning that USAA, a company known for catering specifically to military members, offers competitive rates and tailored services nationally, even though it is not part of this Cary-focused dataset.

In Cary, securing the most economical car insurance demands thorough rate comparisons, which can extend beyond an hour as each company might require up to 15 meticulous minutes. However, the car insurance calculator by MoneyGeek streamlines this process, offering quick savings. Enter pertinent details such as age, driving history, credit score and preferred coverage to receive an immediate estimate.

Choosing the right auto insurance for you hinges on your individual preferences for service quality, cost, coverage options and other factors. MoneyGeek's comprehensive research has determined Cary's leading vehicle insurance companies, using distinct scoring systems for each category to guide your decision:

• Best overall: North Carolina Farm Bureau (MoneyGeek score 91 out of 100)
• Best for service: Erie (MoneyGeek score 85 out of 100)
• Best cheap: North Carolina Farm Bureau (MoneyGeek score 91 out of 100)

North Carolina Farm Bureau is the optimal choice for overall value and affordability, while Erie leads in terms of service quality, offering an unparalleled customer experience.

According to MoneyGeek's study, the following companies offer the overall best car insurance in Cary:

• North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($495 per year)
• Erie: MoneyGeek score of 87 out of 100 ($603 per year)

North Carolina Farm Bureau distinguishes itself with a stellar combination of high customer satisfaction and affordability, reflected in its remarkable MoneyGeek score.

MoneyGeek found the best options in Cary for customer service in car insurance:

• Erie: MoneyGeek score of 85 out of 100 ($603 per year)
• North Carolina Farm Bureau: MoneyGeek score of 84 out of 100 ($495 per year)

Erie distinguishes itself in the Cary market primarily through its exceptional scores in satisfaction and coverage options, which are significant contributors to its MoneyGeek score.

MoneyGeek found the best cheap car insurance in Cary. Here are the top two insurers:

• North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($257 per year)
• Erie: MoneyGeek score of 89 out of 100 ($301 per year)

North Carolina Farm Bureau distinguishes itself with the highest MoneyGeek score, indicative of its leading position in the market for a minimum coverage policy. The key factors contributing to its stellar score are its unbeatable affordability, high satisfaction and solid claims processing.

In Cary, the average cost of car insurance is $787 annually. This figure is less than the average car insurance cost in North Carolina, which is $878. Comparatively, North Carolina's average is substantially lower than the national average car insurance cost of $1,720.

Car insurance premiums are influenced by a variety of factors, with location playing a significant role. Insurance companies consider the likelihood of accidents, theft and vandalism, which are often higher in densely populated urban areas. In North Carolina, Fayetteville holds the title for the most expensive car insurance at $1,106, while High Point boasts the cheapest at $762. This disparity is indicative of how urbanization impacts insurance costs.