The words “low-priced” and “insurance” really shouldn’t be used in the same sentence, especially when searching for the lowest insurance rates for active military. Because it’s not cheap, let’s familiarize you with some of the things that help determine auto insurance rates, and see how we can help you shave a little off the next policy you buy.
Determining which company offers the best car insurance rates for active military will involve more work than just picking a company at random. Each auto insurance company has a unique approach for filing rates in each state, so let’s rank the car insurance companies with the overall cheapest rates in Raleigh.
It’s a good idea to be aware that Raleigh, NC car insurance rates are impacted by many factors which can substantially change the price you have to pay for coverage. Simply having another birthday, getting divorced, or getting into an accident may prompt premium changes that can make some companies cheaper than others.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $639 |
| 2 | Utica National | $655 |
| 3 | NC Farm Bureau | $709 |
| 4 | GEICO | $720 |
| 5 | Liberty Mutual | $721 |
| 6 | Titan | $737 |
| 7 | Penn National | $747 |
| 8 | State Farm | $756 |
| 9 | Auto-Owners | $870 |
| 10 | National General | $881 |
| 11 | Allied | $901 |
| 12 | Travelers | $927 |
| 13 | Erie | $931 |
| 14 | Peerless | $962 |
| 15 | MetLife | $1,007 |
| 16 | Nationwide | $1,031 |
| 17 | Encompass | $1,031 |
| 18 | Unitrin | $1,032 |
| 19 | Safeco | $1,044 |
| 20 | Allstate | $1,064 |
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Progressive offers some of the most affordable car insurance rates in Raleigh at around $639 per year. This is $233 less than the average rate paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, GEICO, and Liberty Mutual also qualify as some of the more affordable Raleigh, NC insurance companies.
In the above example, if you currently have a policy with GEICO and switched to Progressive, you might achieve a yearly savings of roughly $81. Drivers with Liberty Mutual may save as much as $82 a year, and Titan customers might reduce rates by $98 a year.
Remember that these policy rates are averages across all drivers and vehicles in North Carolina and are not factoring in a vehicle location for active military. So the auto insurance company that can offer you the lowest price may not even be in the top 20 companies in the list above. That emphasizes why you need to get rate quotes using your own specific driver and vehicle information.
One of the many criteria that determine insurance cost is your zip code. Regions with larger populations or more claims are more likely to pay higher prices, whereas areas with less people or fewer weather incidents can boast about having cheaper rates.
The illustration below shows the most expensive areas in North Carolina for active military to buy car insurance in. Raleigh is ranked at #13 with an annual cost of $744 for the average policy, which is approximately $62 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Fayetteville | $923 |
| 2 | Jacksonville | $864 |
| 3 | Charlotte | $816 |
| 4 | Gastonia | $811 |
| 5 | Durham | $789 |
| 6 | Cary | $772 |
| 7 | Wilmington | $765 |
| 8 | Greensboro | $756 |
| 9 | Huntersville | $756 |
| 10 | Wilson | $754 |
| 11 | High Point | $753 |
| 12 | Indian Trail | $745 |
| 13 | Raleigh | $744 |
| 14 | Goldsboro | $743 |
| 15 | Rocky Mount | $740 |
| 16 | Greenville | $738 |
| 17 | Hickory | $732 |
| 18 | Apex | $725 |
| 19 | Winston Salem | $716 |
| 20 | Salisbury | $712 |
| 21 | Chapel Hill | $703 |
| 22 | Concord | $697 |
| 23 | Asheville | $687 |
| 24 | Burlington | $678 |
| 25 | Kannapolis | $676 |
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Premium amounts are estimated as the vehicle garaging location can change premiums noticeably.
Full coverage rates compared to liability only
Saving money on car insurance should be important to most vehicle owners, and a great way to save on the cost of insurance for active military is to not insure for full coverage. The information below shows the difference between car insurance costs with full coverage compared to only the North Carolina minimum liability coverage. The premiums are based on no claims, a clean driving record, $1,000 deductibles, marital status is single, and no discounts are applied.
If averaged out across all ages, physical damage insurance costs an extra $1,053 per year more than buying just liability insurance. That is a big expense that brings up the question if you should buy full coverage at all. There is no set rule to exclude full coverage, but there is a general convention. If the annual cost of your full coverage insurance is about 10% or more 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 conditions where buying only liability insurance is not recommended. If you still owe a portion of the original loan, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.
Types of discounts on Raleigh insurance
Insurance companies that offer cheap quotes for active military could also offer policy discounts that could lower prices by as much as 35% if you qualify. A few of the larger companies and their offered discounts are shown below.
- GEICO has savings for daytime running lights, five-year accident-free, seat belt use, membership and employees, and federal employee.
- Travelers policyholders can earn discounts including payment discounts, save driver, early quote, new car, and IntelliDrive.
- Nationwide discounts include good student, multi-policy, family plan, business or organization, Farm Bureau membership, and easy pay.
- Farmers Insurance offers discounts including good student, electronic funds transfer, homeowner, alternative fuel, and youthful driver.
- Esurance may have discounts that include online quote, multi-policy, safety device, DriveSense, multi-car, emergency road assistance, and anti-theft.
- State Farm includes discounts for good driver, Steer Clear safe driver discount, student away at school, Drive Safe & Save, anti-theft, accident-free, and safe vehicle.
- Progressive offers discounts for continuous coverage, online quote discount, online signing, good student, and multi-vehicle.
- Mercury Insurance has discounts for accident-free, low natural disaster claims, multi-policy, anti-theft, ease of repair, good driver, and type of vehicle.
The chart below shows the difference between auto insurance rates with and without some available policy discounts. The information is based on a male driver, no violations or claims, North Carolina state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with anti-theft, accident-free, claim-free, safe-driver, vehicle safety, and passive restraint discounts applied. In this example, the average savings per year on car insurance for active military is 27% or $361.
Chances are good that you’re overpaying for Raleigh car insurance
North Carolina car insurance rates are calculated based on many things which can significantly increase or decrease the price of your policy. Simply turning a year older, marrying your spouse, or having an accident can trigger changes in premium that may make certain companies much cheaper than others.
Additionally, car insurance companies modify rates without warning to reflect underwriting profits or losses. Significantly higher claims may cause rate hikes, while a lower level of claims may cause lower-priced Raleigh car insurance rates.
To help illustrate this point, the graph below compares the cheapest car insurance in Raleigh, NC for a 30-year-old female driver with no prior claims, no tickets, and solid credit. If we look at prices based on her current rating profile, Utica National may have the best car insurance rates in Raleigh at $754 per year. This is $118 less than the average premium paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and Penn National are also included in the best Raleigh, NC auto insurance companies.
Let’s now give the driver from the first set of rates a claim or two, a lower credit rating, and a speeding ticket. Because every insurance company has a unique formula to determine rates, analyzing rate quotes may now result in a substantially altered list of affordable Raleigh car insurance companies as shown below.
GEICO now has the cheapest insurance rate in Raleigh with State Farm, Auto-Owners, Progressive, and Allied also being competitive. This example shows why it is critical to perform a complete rate comparison when trying to find the lowest car insurance rates for active military.
Prices are calculated by many factors and can change without notice, so the most economical option six months ago may now cost much more than other companies.
How to find budget-friendly car insurance for active military
The list below shows many penny-pinching solutions that can help North Carolina drivers quote lower-cost coverage.
- Good credit can mean cheaper rates
- Save money by bundling your home and auto policies
- Too many claims can make car insurance unaffordable
- Maintain a safe distance and avoid accidents
- Increase your physical damage deductibles
- Serious violations like DUI or careless driving can make car insurance unaffordable
- Compare rate quotes frequently
That last idea is certainly significant, as was stressed in the prior article. Prices can change considerably based on profitability, so drivers shouldn’t hesitate to switch carriers if you find a better deal. Staying with the same car insurance company is fine, but it’s not a great idea if that loyalty results in overpaying several hundred dollars every year. Take a few minutes and compare rates and find cheaper insurance for active military in Raleigh.