Finding affordable car insurance for a Honda CR-V in North Carolina can be really easy, but it depends on a complicated formula that considers factors such as whether you use your CR-V for business use, the size of your vehicle, and driving violations and tickets. Drivers in North Carolina will pay on average $480 each year to insure their CR-V, but that is an estimate using a 50-year-old married female driver with full comprehensive and collision coverage and $500 deductibles.
When making auto insurance estimates, the issue arises that you are not 50 years old and maybe not even female, possibly single instead of married, or maybe you rent instead of own your home. Every driver’s needs are different, and that is why the only way to find the cheapest insurance price for your Honda is to do your own rate comparisons. It takes less than five minutes and you will be able to compare rates from some of the best insurers that insure vehicles in North Carolina.
The specific model of CR-V will influence the insurance rate, so the rate you will pay to insure a CR-V LX 2WD will be $16 cheaper than the insurance cost for the more costly CR-V EX-L 4WD version, as shown in the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| CR-V LX 2WD | $104 | $178 | $198 | $12 | $60 | $552 | $46 |
| CR-V EX 2WD | $104 | $178 | $198 | $12 | $60 | $552 | $46 |
| CR-V LX 4WD | $104 | $178 | $198 | $12 | $60 | $552 | $46 |
| CR-V EX 4WD | $120 | $178 | $198 | $12 | $60 | $568 | $47 |
| CR-V EX-L 2WD | $120 | $178 | $198 | $12 | $60 | $568 | $47 |
| CR-V EX-L 4WD | $120 | $178 | $198 | $12 | $60 | $568 | $47 |
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Table data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Rate quotes do not factor in Raleigh location which can impact rates significantly.
Establishing which company offers the best auto insurance rates for a Honda CR-V will require more time in order to find the best price. Each company has a unique formula to establish rates, so we’ll take a look at the most affordable auto insurance companies in Raleigh, NC.
It’s a good idea to be aware that Raleigh auto insurance rates are determined by lots of factors that control the price you pay for coverage. Improving your credit score, getting divorced, or having a fender bender may prompt premium changes that may make certain companies more affordable than competitors.
Best Cheap Insurance Rates for Your Honda
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $639 |
| 2 | Utica National | $655 |
| 3 | Liberty Mutual | $700 |
| 4 | NC Farm Bureau | $709 |
| 5 | Penn National | $739 |
| 6 | GEICO | $750 |
| 7 | State Farm | $756 |
| 8 | Titan | $759 |
| 9 | Auto-Owners | $878 |
| 10 | National General | $881 |
| 11 | Travelers | $900 |
| 12 | Allied | $901 |
| 13 | Erie | $931 |
| 14 | Peerless | $962 |
| 15 | MetLife | $1,007 |
| 16 | Nationwide | $1,011 |
| 17 | Unitrin | $1,032 |
| 18 | Encompass | $1,041 |
| 19 | Safeco | $1,044 |
| 20 | Allstate | $1,097 |
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Progressive may offer some of the most affordable car insurance rates in Raleigh at around $639 each year. This is $233 less than the average premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, NC Farm Bureau, and Penn National also qualify as some of the more affordable Raleigh, NC auto insurance companies.
In the above example, if you are currently insured with NC Farm Bureau and switched to Utica National, you may see an annual savings of in the neighborhood of $54. Policyholders with Penn National might save as much as $84 a year, and GEICO customers might see rate reductions of $95 a year.
These policy prices are averages across all drivers and vehicles in North Carolina and do not factor in an exact vehicle garaging location for a Honda CR-V. So the company that has the lowest price for you may not even be in the top 20 companies shown above. That helps illustrate why you need to get quotes using your own specific driver and vehicle information.
How careless driving impacts auto insurance rates
The recommended way to get low auto insurance prices in North Carolina for a CR-V is to be a cautious driver and have a clean driving record. The diagram below shows how traffic citations and at-fault collisions can increase annual premium costs for each different age category. The rate quotes are based on a single female driver, comprehensive and collision coverage, $100 deductibles, and no discounts are applied to the premium.
The data above shows the average cost of car insurance in North Carolina per year with no accidents and a clean driving record is $1,393. Get one speeding ticket and the average cost hikes up to $1,576, an increase of $183 each year. Then include two accidents along with the one speeding ticket and the 12-month cost of auto insurance for a Honda CR-V jumps again to an average of $3,094. That’s an increase of $1,702, or $142 per month, just for not being more responsible behind the wheel!
Discounts on Raleigh auto insurance rates
Insurers that offer cheap quotes for a Honda CR-V may also give you premium discounts that can reduce rates by 40% or more if you are eligible. Large auto insurance companies and a partial list of their discounts can be found below.
- American Family may include discounts for bundled insurance, air bags, multi-vehicle, accident-free, and mySafetyValet.
- Farm Bureau may have discounts that include good student, renewal discount, safe driver, 55 and retired, multi-policy, and driver training.
- State Farm has savings for Steer Clear safe driver discount, good student, Drive Safe & Save, multiple policy, and good driver.
- Travelers offers discounts for payment discounts, home ownership, new car, student away at school, driver training, hybrid/electric vehicle, and multi-policy.
- The Hartford includes discounts for good student, air bag, driver training, vehicle fuel type, bundle, anti-theft, and defensive driver.
- GEICO has discounts for federal employee, five-year accident-free, defensive driver, anti-lock brakes, membership and employees, good student, and seat belt use.
- Progressive discounts include multi-vehicle, good student, online signing, online quote discount, and homeowner.
The illustration below compares car insurance costs with and without discounts applied. The prices are based on a female driver, a clean driving record, no claims, North Carolina state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with vehicle safety, marriage, accident-free, claim-free, multiple policy, and anti-theft discounts applied. When taking advantage of discounts, theaverage amount saved on auto insurance for a Honda CR-V is 28% or $278.
Liability rates compared to full coverage
Saving money when shopping for auto insurance should be important to the majority of vehicle owners, and a good way to reduce the cost of insurance for a Honda CR-V is to only buy liability insurance. The example below illustrates the comparison of auto insurance costs with full physical damage coverage and with liability coverage only. The rates are based on no accidents or driving violations, $250 deductibles, single marital status, and no discounts are taken into consideration.
If averaged for all ages, full coverage costs an extra $1,346 per year over liability only. A very common question is if it’s worth it to buy full coverage. There is no specific rule of when to phase out physical damage coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.
There are some circumstances where dropping physical damage coverage is not advised. If you haven’t satisfied your loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not opt for liability only.