Car insurance providers charge an average of $844 per year in Raleigh. This amount is higher than the state average by only $3. The most affordable auto insurance company in the city is Nationwide, charging $599 per year on average. If you are looking for cheap yet high-quality coverage, MoneyGeek ranked insurance providers in Raleigh based on various coverage levels and driving histories to ensure that you find an option that fits your needs.
Compare the Cheapest Car Insurance Quotes in Raleigh, NC
The Cheapest and Best Car Insurance in Raleigh
The Cheapest Car Insurance Companies in Raleigh
Insurance companies that provide the lowest average rates for a full coverage policy in Raleigh are:
- Nationwide: $599 per year
- State Farm: $649 per year
MoneyGeek obtained average car insurance rates in Raleigh using a sample 40-year-old male driver. For this study, the driver has a full coverage policy that includes both liability insurance and comprehensive and collision insurance.
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Average Cost of Car Insurance in Raleigh
The average annual car insurance rate in Raleigh is $844, which is slightly higher than the state average annual premium of $841. However, this rate is lower than the national average. Raleigh drivers pay 40.8% lower than the $1,424 average annual premium in the United States.
The Best Car Insurance Companies in Raleigh
If you wish to balance quality service and affordability, you can use MoneyGeek’s scoring system to identify the best insurer for your profile. According to MoneyGeek’s research, the best car insurance carriers in the city for most drivers are:
- Erie: MoneyGeek score of 93 out of 100
- Auto-Owners Insurance Co: MoneyGeek score of 90 out of 100
USAA received the highest score in Raleigh by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.
MoneyGeek’s ranking methodology consists of various factors, including J.D. Power’s user satisfaction, financial stability and affordability scores.
Personalized Quotes to Get You the Cheapest Car Insurance in Raleigh
Car insurance companies in Raleigh evaluate risks related to a driver depending on several factors like age, gender, driving history, car make and model, coverage level and marital status. For instance, if you are a 40-year-old male in the city, you can enjoy the cheapest annual premium of $599. However, if you are a 70-year-old male, you will have to pay up to $1,083.
Generally, teen drivers have higher premiums. So, if you are an 18-year-old male looking for auto insurance in Raleigh, Progressive will give you the most expensive rate of $2,291. GEICO provides the lowest rate for 18-year-old male drivers in Raleigh, with a premium of $1,203. Since your circumstances may change over time, it is best to get personalized car insurance quotes in Raleigh regularly.
Shopping around for car insurance in Raleigh could save you $245, which is enough to buy:
Cheapest Car Insurance in Raleigh by Coverage Amount
In Raleigh and elsewhere, the amount of coverage you purchase influences how much you pay for car insurance. A minimum liability policy, for instance, costs $441 per year on average. On the other hand, a full coverage policy costs roughly $402 more.
North Carolina Minimum Liability Requirements
- Bodily Injury and Property Damage$30,000 per person, $60,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.
- Uninsured Motorist$30,000 per person, $60,000 per incident and $25,000 for property damage. The minimum coverage may not be enough if you're in a serious accident.
You may be wondering which insurance policy is right for you. While state minimum liability coverage typically costs less, opting for more coverage will give you additional protection. Raleigh drivers can choose between 50/100/50 liability-only and full-coverage plans, which allow customers to claim up to $50,000 in individual injuries, $100,000 for accident damage and $50,000 for property damage. In some cases, the difference between these two options is nominal.
For example, the average annual difference for State Farm policyholders is only $182. Liability only costs $399, while the full coverage rate is $581. Add a few more bucks and you can get 100/300/100 full coverage for $599, which offers comprehensive protection for all injuries and vehicle damages.
Average Car Insurance Premiums: Liability-Only vs. Full Coverage
- CompanyState Minimumper year50 / 100 / 50per year
- 3.North Carolina Farm Bureau$392$436
- Company50 / 100 / 50per year100 / 300 / 100per year
- 3.North Carolina Farm Bureau$665$738
Cheapest Car Insurance in Raleigh if You Have Driving Violations
A responsible driver can enjoy cheaper car insurance in Raleigh compared to individuals who have speeding tickets, DUIs or have been in an accident where they are at fault. The annual premium can increase around three to four times as much as the most affordable car insurance rate.
For example, Nationwide’s annual premium for someone with no violation is $599. However, if you have a DUI violation, the cost can rise by $1,641, to a total of $2,239. Meanwhile, if you have a speeding ticket, your Nationwide policy can rise from $599 to $865.
- CompanySpeeding Ticketper yearAt-Fault Accidentper yearDUIper year
- 3.North Carolina Farm Bureau$1,063$1,063$2,745
Average Cost of Car Insurance by Postal Code
The highest and lowest car insurance rate in Raleigh based on the ZIP code is $759 and $894, respectively, which means the difference between the most affordable and most expensive neighborhoods is $135. Car insurance rates differ by zip code due to factors like theft rates and accident rates. Drivers living in ZIP code 27613 enjoy the most affordable premium, while those from 27616 pay the highest.
- Zip CodeState Minimumper year
Top Agents Offering Affordable Car Insurance in Raleigh
Factors That Impact Insurance Costs in Raleigh
In addition to individual driver needs and history, location-specific factors like the rate of car thefts and the percentage of uninsured motorists also contribute to car insurance rates in Raleigh. How Raleigh ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.
Methodology and Assumptions
MoneyGeek’s average premium rates for Raleigh are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.
About the Author
- North Carolina Department of Transportation. "Insurance Requirements." Accessed June 18, 2020.