The words “low-cost” and “insurance” really should not be used together, especially when you are trying to find the best car insurance rates for good students. In an attempt to save some money, let’s teach you some things that have a considerable impact on auto insurance premiums, and find a way to slash the price of the next policy you buy.
For student drivers, one of the largest considerations that aid in calculating the price you pay for insurance is where your car is garaged in Raleigh. Larger areas tend to pay slightly more, whereas areas with lower crime rates and fewer weather claims tend to receive slightly lower rates.
The illustration below rates the most expensive places in North Carolina for good students to buy auto insurance in. Raleigh shows up at #6 with the annual price of $767 for the average insurance policy, which is around $64 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Fayetteville | $932 |
| 2 | Jacksonville | $900 |
| 3 | Charlotte | $832 |
| 4 | Gastonia | $803 |
| 5 | Durham | $797 |
| 6 | Raleigh | $767 |
| 7 | Greensboro | $763 |
| 8 | Greenville | $760 |
| 9 | Wilmington | $758 |
| 10 | Indian Trail | $753 |
| 11 | Cary | $749 |
| 12 | Huntersville | $742 |
| 13 | Goldsboro | $735 |
| 14 | High Point | $731 |
| 15 | Rocky Mount | $726 |
| 16 | Apex | $725 |
| 17 | Wilson | $724 |
| 18 | Hickory | $718 |
| 19 | Salisbury | $705 |
| 20 | Burlington | $699 |
| 21 | Concord | $697 |
| 22 | Chapel Hill | $696 |
| 23 | Winston Salem | $688 |
| 24 | Asheville | $681 |
| 25 | Kannapolis | $669 |
| Compare Prices Now Go | ||
Rates are comparative as specific Raleigh garaging address can influence prices substantially.
The vehicle model requiring insurance is a large consideration when comparing quotes for economical auto insurance for good students. Vehicles with average performance, advanced safety features, or a positive history of liability claims will cost significantly less to insure than fast, unsafe models.
The list below outlines auto insurance rates for a selection of the most affordable automobiles to buy coverage for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $3,406 |
| Ford Escape XLT 4WD | $3,439 |
| Honda Accord EX-L 4-Dr Sedan | $3,654 |
| Hyundai Elantra SE Touring Station Wagon | $3,661 |
| Toyota Prius | $3,689 |
| Ford Explorer Eddie Bauer 2WD | $3,825 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $3,835 |
| Chevrolet Impala LS | $4,008 |
| Ford Edge SE AWD | $4,013 |
| Volkswagen Jetta LE 4-Dr Sedan | $4,040 |
| Toyota RAV4 Limited 2WD | $4,045 |
| Toyota Camry LE | $4,040 |
| Chevrolet Malibu LT | $4,075 |
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Data based on single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate quotes do not factor in your specific Raleigh, NC location which can modify coverage rates significantly.
Based upon these rates, cars like the Honda CR-V, Ford Escape, Honda Accord, Hyundai Elantra, and Toyota Prius are the most affordable vehicles to insure for student drivers.
Finding decent, cost effective insurance is hard enough, and finding out which company offers the most affordable insurance rates for good students will take additional perseverance.
Every insurance provider uses a different method for filing rates in each state, so let’s take a look at the insurance companies that tend to be cheaper in North Carolina.
Best Cheap Insurance Rates for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $632 |
| 2 | Utica National | $636 |
| 3 | Liberty Mutual | $721 |
| 4 | NC Farm Bureau | $730 |
| 5 | Penn National | $747 |
| 6 | GEICO | $750 |
| 7 | State Farm | $756 |
| 8 | Titan | $759 |
| 9 | Auto-Owners | $878 |
| 10 | National General | $881 |
| 11 | Erie | $922 |
| 12 | Travelers | $927 |
| 13 | Allied | $928 |
| 14 | Peerless | $992 |
| 15 | Nationwide | $1,011 |
| 16 | Unitrin | $1,032 |
| 17 | Safeco | $1,034 |
| 18 | MetLife | $1,049 |
| 19 | Encompass | $1,063 |
| 20 | Allstate | $1,097 |
| Compare Rates Now Go | ||
Progressive normally has some of the lowest car insurance rates in Raleigh at around $632 each year. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also make the cut as some of the lowest-priced Raleigh, NC auto insurance companies.
As depicted above, if you are a customer of NC Farm Bureau and switched to Progressive, you could realize an annual savings of in the vicinity of $98. Insureds with Penn National might save as much as $115 a year, and GEICO policyholders might realize rate reductions of up to $118 a year.
Be aware that those rates are averages across all ages of drivers and types of vehicles and do not factor in an exact zip code location for good students. So the company that is best suited for you may not even be in the top 20 companies shown above. That underscores the importance of why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.
How careless driving impacts insurance rates
The common sense way to get the best insurance rates in Raleigh for student drivers is to be a good driver and avoid tickets and accidents. The chart below demonstrates how traffic citations and at-fault fender-benders influence insurance costs for each different age group. The premiums are based on a single male driver, full coverage, $500 deductibles, and no discounts are factored in.
The data above shows the average cost of a car insurance policy in Raleigh per year with no accidents or violations is $1,598. Receive two speeding tickets and the average cost jumps to $2,111, an increase of $513 each year. Then add in two accidents along with the two speeding tickets and the yearly cost of insurance for good students jumps again to an average of $4,100. That’s an increase of $2,502, or $209 per month, just for not paying attention while driving!
Get discount Raleigh auto insurance
Auto insurance companies that offer coverage for good students could also offer price discounts that could potentially reduce rates by 30% or more if you qualify for them. A few of the larger companies and the discounts they provide can be read below.
- State Farm may offer discounts for Steer Clear safe driver discount, Drive Safe & Save, defensive driving training, multiple autos, student away at school, multiple policy, and passive restraint.
- GEICO offers discounts for defensive driver, multi-policy, seat belt use, emergency military deployment, military active duty, daytime running lights, and multi-vehicle.
- Allstate offers discounts including anti-lock brakes, utility vehicle, economy car, FullPay discount, and auto/life discount.
- SAFECO offers premium reductions for bundle discounts, safe driver, multi-car, accident prevention training, anti-lock brakes, and teen safety rewards.
- Farm Bureau may have discounts that include multi-policy, good student, driver training, youthful driver, renewal discount, and multi-vehicle.
- Progressive has discounts for multi-policy, online signing, multi-vehicle, online quote discount, good student, and continuous coverage.
- AAA may include discounts for pay-in-full, multi-car, anti-theft, good student, good driver, and education and occupation.
The diagram below compares car insurance rates with and without discounts. Data assumes a female driver, no claims or driving violations, North Carolina state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second bar shows the rates with anti-theft, passive restraint, vehicle safety, paperless filing, continuous coverage, and good student discounts applied. When discounts are factored in, the average amount saved each year on insurance for good students is 28% or $643.
The example below illustrates how your deductible choice can impact insurance prices when trying to find cheap insurance for good students. The premiums assume a single female driver, full coverage, and no discounts are applied to the premium.
In the chart above, a 40-year-old driver could save $274 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $416 by switching to a $1,000 deductible. Younger drivers, like the age 20 example, could possibly save as much as $700 or more by choosing a larger deductible amount. When raising deductibles, it will be required to have emergency funds available to offset the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.