Finding the most affordable or best car insurance in Raleigh, North Carolina, depends on coverage options and driver specifics. North Carolina Farm Bureau is the most economical provider for minimum and full coverage car insurance. It is also the best overall and offers the best value in both price and service. State Farm is the cheapest for families with teens. Erie is the leading choice in terms of service. Choose based on your unique needs and desired coverage.
Cheapest and Best Car Insurance in Raleigh, NC (2024)
North Carolina Farm Bureau offers Raleigh's cheapest minimum coverage car insurance at around $291 per year. It is also the overall best, with a MoneyGeek score of 91 out of 100.
Updated: November 19, 2024
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Cheapest and Best Car Insurance in Raleigh
Why Trust MoneyGeek? We analyzed 47,430 quotes in North Carolina from nine companies, used six sources and conducted original research to rate the cheapest companies and develop a scoring system for Raleigh insurance providers based on ZIP codes in the city only. Our scores are based on affordability, customer satisfaction, claims experience, coverages offered and financial stability.
These rates reflect the cheapest car insurance quotes in Raleigh, NC, as of August 2024.
Cheapest Minimum Coverage Car Insurance in Raleigh
MoneyGeek found that North Carolina Farm Bureau offers the cheapest car insurance with minimum coverage in Raleigh.
- North Carolina Farm Bureau: $291 per year
- State Farm: $325 per year
Allstate has the most expensive minimum coverage policy in Raleigh, with an average annual premium of $1,050, which is significantly higher than North Carolina Farm Bureau's. This stark price disparity highlights the importance of comparing rates to ensure you get the best car insurance deal.
- 22-29
- 30-59
- 60 +
- Full Coverage
- Minimum Coverage
North Carolina Farm Bureau | $291 | $24 |
State Farm | $325 | $27 |
Erie | $337 | $28 |
Progressive | $425 | $35 |
Nationwide | $574 | $48 |
National General | $615 | $51 |
GEICO | $767 | $64 |
Kemper | $947 | $79 |
Allstate | $1,050 | $88 |
State Minimum Liability Requirements
In North Carolina cities like Raleigh, state law dictates the mandatory car insurance coverages:
- $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
Let's say your minimum coverage policy pays $30,000 for bodily injury liability per person. If you're at fault in an accident and the other person's medical bills total $45,000, your policy covers the first $30,000. However, you'd be responsible for the remaining $15,000 out of pocket. Remember, minimum coverage laws are basic requirements, and it's wise to consider your needs before choosing a policy.
Cheapest Full Coverage Car Insurance in Raleigh
MoneyGeek found that North Carolina Farm Bureau offers the most affordable full coverage car insurance in Raleigh. Securing the cheapest full coverage car insurance is important for drivers looking to balance comprehensive protection with cost savings. Here are the two most economical providers in Raleigh:
- North Carolina Farm Bureau: $556 per year
- State Farm: $587 per year
Allstate offers the most expensive full coverage policy in Raleigh at around $2,097 annually. The significant price gap of $1,541 between the cheapest and costliest options underscores why it's crucial to compare rates for full coverage policies. They include comprehensive and collision coverage in addition to standard liability, thus costing higher than minimum coverage policies.
- 22-29
- 30-59
- 60 +
- Full Coverage
- Minimum Coverage
North Carolina Farm Bureau | $556 | $46 |
State Farm | $587 | $49 |
Progressive | $656 | $55 |
Erie | $671 | $56 |
Nationwide | $1,184 | $99 |
National General | $1,303 | $109 |
GEICO | $1,505 | $125 |
Kemper | $1,644 | $137 |
Allstate | $2,097 | $175 |
Do You Need Full Coverage in North Carolina?
Full coverage insurance encompasses more than just elevated liability limits. It consists of both comprehensive and collision coverage, each serving distinct protective functions:
Collision Insurance: This insures your automobile against damages resulting from impacts with another car or object like a tree or light pole. It also covers rollover accidents and pothole damage.
Comprehensive Insurance: This compensates for your vehicle’s damage from various non-collision incidents, such as theft, vandalism, fires, natural disasters or being hit by an animal like a deer.
For those purchasing a new vehicle, choosing full coverage insurance is essential to protect your substantial investment. However, owners of older vehicles should weigh the value of added coverage against the cost, as it can amount to several hundred dollars more a year. In determining how much car insurance you need, consider the higher premiums associated with increased coverage against the potential financial risk of being underinsured.
Cheapest Car Insurance in Raleigh After a Driving Offense
In Raleigh, North Carolina Farm Bureau is the cheapest company for drivers with a poor driving record. Here are the most affordable annual premiums for each violation:
- Speeding Ticket: North Carolina Farm Bureau ($794 per year)
- At-Fault Accident: North Carolina Farm Bureau ($730 per year)
- DUI: North Carolina Farm Bureau ($1,999 per year)
Allstate has the most expensive rates for drivers with speeding tickets and DUIs, at an average annual premium of $3,098 and $8,783, respectively. GEICO is the least affordable for those with an at-fault accident, costing around $2,867 per year.
The cost difference between the cheapest rate after a speeding ticket and the most affordable rate after a DUI with North Carolina Farm Bureau is significant, highlighting the impact that the severity of a driving offense has on car insurance premiums.
- 22-29
- 30-59
- 60 +
- Full Coverage
- Minimum Coverage
- Accident
- DUI
- Speeding
North Carolina Farm Bureau | $730 | $61 |
State Farm | $789 | $66 |
Progressive | $882 | $74 |
Erie | $970 | $81 |
National General | $1,770 | $148 |
Nationwide | $1,863 | $155 |
Kemper | $2,338 | $195 |
Allstate | $2,643 | $220 |
GEICO | $2,867 | $239 |
In Raleigh and other cities, insurance rates increase in correlation to the severity of a driving offense. For example, drivers with a speeding ticket may face an average annual rate of $2,133, while those with a DUI could see a higher average annual cost of $5,380. It is crucial for individuals with driving infractions to compare insurance quotes diligently, as finding the most competitive rate can lead to substantial savings.
Cheapest Car Insurance in Raleigh for Teens and Their Families
MoneyGeek found that State Farm offers the most affordable full coverage car insurance for female and male teens in Raleigh. These providers have the cheapest car insurance for teens:
- State Farm: $1,324 per year for female and male teens
- Nationwide: $1,532 per year for female and male teens
The premiums listed reflect the cost of a policy covering two parents and a teen driver. GEICO has the highest rate for a family policy in Raleigh at around $4,711 annually for female and male teen drivers. This substantial $3,387 difference in annual premium compared to State Farm highlights the importance of researching and comparing rates to capitalize on potential savings, especially when insuring high-risk drivers like teenagers.
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- Female
- Male
State Farm | $1,324 | $1,459 |
Nationwide | $1,532 | $1,867 |
Progressive | $2,534 | $3,442 |
Kemper | $3,114 | $4,658 |
Allstate | $3,183 | $4,451 |
GEICO | $4,711 | $4,176 |
In Raleigh, the cost of a teen's car insurance can be significantly lowered by opting for a joint family policy rather than an individual one. A teen purchasing an individual policy can expect to pay about $3,342 annually, compared to the $2,733 average for those included in a family plan. The steep difference of more than $600 reflects the high-risk profile associated with young, inexperienced drivers. Insurance companies often hesitate to approve individual policies for teens. When they do, the premiums are substantially higher to offset the potential for costly claims. Consequently, a joint family policy becomes the more economical and often viable choice for teen drivers.
Cheapest Car Insurance in Raleigh for Military Drivers
MoneyGeek found that North Carolina Farm Bureau offers the cheapest car insurance for military backgrounds in Raleigh.
- North Carolina Farm Bureau: $556 per year
- State Farm: $587 per year
Although USAA isn't in this study, it typically offers competitive rates and specializes in services tailored to the needs of active duty military members. It is generally considered one of the more affordable car insurers at a national level.
- 22-29
- 30-59
- 60 +
- Full Coverage
- Minimum Coverage
North Carolina Farm Bureau | $556 | $46 |
State Farm | $587 | $49 |
Progressive | $656 | $55 |
Erie | $671 | $56 |
Nationwide | $1,184 | $99 |
National General | $1,303 | $109 |
GEICO | $1,505 | $125 |
Kemper | $1,644 | $137 |
Allstate | $2,097 | $175 |
How to Compare Cheap Raleigh Car Insurance Quotes Online
For drivers in Raleigh, finding affordable car insurance necessitates a thorough comparison of rates, a process that can take more than an hour when considering multiple companies.
However, with MoneyGeek's car insurance calculator, this time-consuming task is simplified. By inputting key details such as age, driving history, credit score and coverage preferences, you receive an immediate estimate tailored to the essential factors affecting insurance rates in the area. This tool streamlines the search for cost-effective policies.
Car Insurance Calculator
MoneyGeek's car insurance calculator will give you a customized estimate of your auto insurance cost. It's free to use, requires no personal information and we won't send you any spam.
Rates updated:
Dec 06, 2024
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Best Car Insurance in Raleigh: Overview
Selecting the right auto insurance is a balancing act, incorporating factors like service, cost and coverage to align with your priorities. MoneyGeek's tailored research evaluates these criteria with distinct scoring systems, revealing the top insurers in Raleigh for varied consumer needs.
- 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 top provider for overall value and affordability, standing out for Raleigh residents seeking a blend of service and cost-effectiveness. Erie excels in customer service, offering premium experiences for those not primarily driven by price. Each company caters to distinct preferences, ensuring consumers have options suitable for their unique insurance needs.
Overall Best Car Insurance in Raleigh
MoneyGeek found that North Carolina Farm Bureau is the top option in Raleigh for those seeking the best car insurance. When it comes to top-rated car insurance providers, the following two are distinguished by their MoneyGeek scores and competitive annual premiums:
- North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($556 per year)
- Erie: MoneyGeek score of 88 out of 100 ($671 per year)
North Carolina Farm Bureau stands out primarily due to its unparalleled customer satisfaction and affordability. With the highest scores in these two crucial categories, it takes the lead for a full coverage policy. Its commitment to client satisfaction and reasonable pricing sets it apart in Raleigh's competitive insurance landscape.
North Carolina Farm Bureau's high MoneyGeek score is bolstered by perfect scores in satisfaction and claims, making it a reliable choice for quality service. Although the company has a limited range of protections, it does offer common car insurance coverages like rental car and/or travel reimbursement and roadside assistance. Considering the high satisfaction and claims handling scores, it's still an excellent option for drivers.
North Carolina Farm Bureau also provides custom parts coverage, which is particularly valuable for drivers with customized vehicles, as it ensures that specialized parts are protected. Given North Carolina Farm Bureau's high scores in satisfaction, affordability and claims, customers can enjoy a well-priced and attentive insurance experience, underscored by strong financial stability.
- Ranks No. 1 in Raleigh for general customer satisfaction
- Ranks No. 1 in Raleigh for claims handling
- Ranks No. 1 in Raleigh for cost, with an average annual premium of $556 for full coverage
- Offers custom parts coverage, ranking No. 4 for key coverages in Raleigh
MoneyGeek ranks Raleigh's best car insurers by prioritizing customer satisfaction and cost-effectiveness. Claims service, coverage options and financial health are also important.
Best Car Insurance in Raleigh for Customer Service
MoneyGeek found that Erie is the best option in Raleigh for outstanding car insurance customer service. It excels in overall satisfaction, handling of claims and breadth of coverages.
- Erie: MoneyGeek score of 85 out of 100 ($670 per year)
- North Carolina Farm Bureau: MoneyGeek score of 84 out of 100 ($556 per year)
Erie distinguishes itself in Raleigh's competitive car insurance market, achieving top general satisfaction and offering robust coverages. These factors are significant contributors to its leading MoneyGeek score.
Erie excels in satisfaction and claims handling, contributing significantly to its high MoneyGeek score. The company offers the common rental car and/or travel reimbursement coverage, which is a strong suit. Considering Erie's top-notch MoneyGeek scores, it still stands out as an excellent option for drivers despite any lacking coverages.
Erie provides better car replacement, aptly named Auto Security, which can be particularly valuable for drivers leasing a new car. It ensures that if the vehicle gets totaled, it will be replaced by a car that is one model year newer. Additionally, the company offers glass deductible modification, a rare and widely beneficial coverage that includes full glass coverage without a deductible, suitable for those worried about windshield or window damages. Personal property insurance is another rare coverage that covers costs if personal items are damaged in your car. These offerings and Erie's high satisfaction and claim processing scores reinforce its place as the insurer of choice and highlight its commitment to customer care and comprehensive protection.
- Ranks No. 2 in Raleigh for general customer satisfaction
- Ranks No. 2 in Raleigh for claims satisfaction
- Offers rare coverages like better car replacement and glass deductible modification
- Provides gap insurance and accident forgiveness
- Does not offer roadside assistance
MoneyGeek's best car insurance in Raleigh ranking values customer satisfaction and claims processing highly. Coverage options and insurer solvency are also key considerations.
Best Cheap Car Insurance in Raleigh
MoneyGeek found that North Carolina Farm Bureau is the best option in Raleigh for consumers seeking the optimal mix of affordability and quality in their car insurance. The company's exceptional combination of cost savings and customer satisfaction secures its top position.
- North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($291 per year)
- Erie: MoneyGeek score of 89 out of 100 ($337 per year)
North Carolina Farm Bureau offers the most competitive rates and performs well in customer satisfaction and claims handling. The company's MoneyGeek score for a minimum coverage policy is impressive, indicating that drivers can enjoy significant savings without compromising service quality.
North Carolina Farm Bureau has a perfect affordability score, contributing significantly to its commendable MoneyGeek score. With an average annual premium of just $291, this insurer ensures the average driver pays minimally for minimum coverage.
North Carolina Farm Bureau's comprehensive suite of discounts reflects its dedication to offering consumers a breadth of cost-saving opportunities. It includes the most common ones such as bundling, multiple car and safe driving. However, despite this range of options, the company doesn't provide a good student discount.
- Offers top-tier claims handling and general customer satisfaction, ranking No. 1 in both categories
MoneyGeek ranks Raleigh's top car insurance providers, prioritizing affordability with customer satisfaction alongside claims handling, coverage options and financial strength.
Average Cost of Car Insurance in Raleigh
Drivers in Raleigh, North Carolina, face an average car insurance premium of $1,071 per year. Compared to the North Carolina state average of $1,051 per year, Raleigh's average cost is slightly higher by $20. The state average itself is quite favorable than the national average cost of car insurance of $1,781, with North Carolina residents paying around $731 less per year.
Car insurance premiums are influenced by various factors, including the driver's profile and the make and model of the car they drive. However, location plays a crucial role, as it can affect rates due to variables like the likelihood of accidents, thefts and other risks. MoneyGeek's data shows Fayetteville as the city with the most expensive average car insurance premium at $1,308, which is $257 above the state average. In contrast, the city of Durham enjoys the cheapest average premium at $914, underscoring a $137 drop from the state average. These rate differences highlight how rates can differ significantly within a state. Rural areas or places with lower traffic density may even have more affordable rates.
Cary | $930 |
Charlotte | $1,270 |
Durham | $914 |
Fayetteville | $1,308 |
Greensboro | $1,034 |
High Point | $930 |
Raleigh | $1,071 |
Wilmington | $982 |
Winston-Salem | $939 |
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.