Locating cost effective auto insurance is difficult, and finding out which company quotes the cheapest car insurance rates for welfare recipients will involve even more rate comparisons.
Every insurance provider uses a little different formula to set their prices, so let’s rank the most competitive car insurance companies in North Carolina. Keep in mind that Raleigh car insurance rates are impacted by many factors which can substantially change the price of coverage. Things like getting older, buying a different home, or getting a couple of tickets can produce rate changes resulting in some rates now being higher when they were quite affordable.
Find the Best Cheap Insurance in North Carolina
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $636 |
| 2 | Progressive | $639 |
| 3 | Penn National | $717 |
| 4 | Liberty Mutual | $721 |
| 5 | Titan | $729 |
| 6 | NC Farm Bureau | $730 |
| 7 | GEICO | $742 |
| 8 | State Farm | $756 |
| 9 | Auto-Owners | $852 |
| 10 | National General | $917 |
| 11 | Erie | $922 |
| 12 | Travelers | $927 |
| 13 | Allied | $928 |
| 14 | Peerless | $1,002 |
| 15 | MetLife | $1,007 |
| 16 | Nationwide | $1,011 |
| 17 | Unitrin | $1,032 |
| 18 | Safeco | $1,044 |
| 19 | Encompass | $1,063 |
| 20 | Allstate | $1,064 |
| Compare Rates Now Go | ||
Utica National offers some of the most affordable car insurance rates in Raleigh at around $636 annually. This is $236 less than the average price paid by North Carolina drivers of $872. Progressive, Penn National, Liberty Mutual, and Titan also make the cut as some of the cheapest Raleigh, NC auto insurance companies.
In the rate table above, if you currently buy coverage from Titan and switched to Progressive, you may realize savings of roughly $90. Insureds with NC Farm Bureau might save as much as $91 a year, and GEICO insureds might reduce rates by $103 a year.
It’s important to note that these premium estimates are averages for all types of insureds and vehicles and do not factor in a specific zip code for welfare recipients. So the company that is most affordable for your situation may not even be in the top 20 companies shown above. That illustrates why you need to get auto insurance quotes using your own personalized driver profile and vehicle information.
The vehicle that needs insurance is one of the largest factors when looking for the best cheap car insurance for welfare recipients. Vehicles with limited speed and performance, excellent safety ratings, or a low likelihood of having liability claims will cost less to insure than adrenaline junky models. The next table showcases car insurance premiums for a handful of the more affordable vehicles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Edge Limited 2WD | $1,122 |
| Ford Escape XLT 4WD | $1,131 |
| Honda CR-V EX-L 2WD | $1,141 |
| Jeep Grand Cherokee Laredo 4WD | $1,144 |
| Chevrolet Malibu LT | $1,165 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,180 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $1,185 |
| Honda Accord LX 4-Dr Sedan | $1,190 |
| Honda Odyssey EX-L | $1,202 |
| Toyota Corolla LE | $1,211 |
| Toyota Prius | $1,225 |
| Dodge Ram Quad Cab TRX4 Off Road 2WD | $1,247 |
| Ford Focus S 4-Dr Sedan | $1,285 |
| Kia Optima SX | $1,305 |
| Nissan Altima 2.5 S 2-Dr Coupe | $1,315 |
| Get a Custom Quote Go | |
Data rating is based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Price information does not factor in specific location information which can decrease or increase premium rates noticeably.
Based on these rates, you can conclude that vehicles like the Ford Edge, Ford Escape, Honda CR-V, Jeep Grand Cherokee, and Chevrolet Malibu are likely to be a few of the most affordable vehicles to insure for drivers on welfare.
How careless driving impacts Raleigh car insurance rates
The common sense way to find good car insurance prices for drivers on welfare is to pay attention while driving and avoid accidents and traffic violations. The information below shows how traffic citations and accident claims impact auto insurance costs for different insured age categories. Data assumes a married female driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
The data charted above shows the average cost of a car insurance policy in Raleigh per year with no accidents and a clean driving record is $1,017. Receive one speeding ticket and the average cost surges to $1,181, an increase of $164 each year. Now include one accident along with the one speeding ticket and the yearly cost of car insurance for welfare recipients increases to an average of $1,643. That’s an increase of $626, or $52 per month, just for not maintaining a clean driving record!
Rate difference between full and liability-only coverage
Finding cheaper car insurance is important to the majority of vehicle owners, and one of the quickest ways to buy cheap insurance for welfare recipients is to buy only liability coverage. The chart below illustrates the difference between insurance prices with full physical damage coverage compared to only buying liability only. The premium estimates are based on no claims, a clean driving record, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
On average, full coverage on your policy costs $1,053 per year over and above liability coverage. Lot’s of drivers question if buying full coverage is worth the expense. There is no exact formula that is best for determining when to drop physical damage coverage, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to consider buying only liability coverage.
For example, let’s say your vehicle’s book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company will settle for is $8,000 after paying your deductible. If it’s costing you more than $800 a year for full coverage, then it’s probably a good time to buy liability coverage only.
A good deal can quickly turn bad
North Carolina car insurance rates are determined by lots of factors which can substantially change the cost of your policy. Getting older, increasing deductibles, or getting a couple of tickets can trigger changes in premium resulting in some companies being cheaper than competitors.
Not only that, but insurers file new North Carolina auto insurance rates every year in order to maintain liquidity for claims. Unexpectedly high claims can cause rate increases, while a better claims history may produce more affordable Raleigh car insurance rates.
The graph below shows the cheapest car insurance in Raleigh, NC for a 35-year-old male driver with a clean driving record, no accidents, and good financial standing. If we compare prices based on his current risk profile, Utica National might quote the most affordable car insurance rates in Raleigh at $717 annually. This is $155 less than the average price paid by North Carolina drivers of $872. Progressive, GEICO, Liberty Mutual, and NC Farm Bureau are also on the list of the top five cheapest Raleigh, NC auto insurance companies.
Now we will give the driver from the above example a claim surcharge, slightly worse credit, and a speeding ticket. Since each auto insurance company has their own formula to establish rates, analyzing rate quotes will most likely result in a different set of companies as shown below.
Titan now has the cheapest car insurance in Raleigh, NC with State Farm, Auto-Owners, Allied, and Travelers now being in the top five. This example illustrates why it is crucial to spend some time comparing rates to get the lowest auto insurance rates for welfare recipients.
Car insurance prices are impacted by many different factors and can decrease or increase without notice, so the best option two years ago may now be quite expensive.
If you wish to have a consultation when trying to find lower insurance rates for welfare recipients, the agents below can most likely help you determine which policy fits your needs best.
To locate an agency near you, click the link at the bottom or click here to compare price quotes.
Tom Patterson – State Farm Insurance Agent
805 Spring Forest Rd #1400 – Raleigh, NC 27609 – (919) 954-1340
Allstate Insurance: Bonnita Hargis
1620 Martin Luther King Jr Blvd #104 – Raleigh, NC 27610 – (919) 250-3606
Allstate Insurance: Lauri W. Fair
9101 Leesville Rd Ste 111 – Raleigh, NC 27613 – (919) 846-3901
Clark Insurance Agency
4004 Barrett Dr #206 – Raleigh, NC 27609 – (919) 844-2995
Find a Raleigh, NC insurance agent near you
Ideas for buying low-cost car insurance for welfare recipients
It is possible to find better rates, and here are some of the recommended penny-pinching solutions that can help you locate cheaper coverage.
- Frequent claims may make car insurance unaffordable
- Increase deductibles to save money
- Prevent price hikes by avoiding at-fault accidents
- Good credit can help you save money
- Avoid getting tickets or violations
- Home or renters coverage can save on auto insurance
- Comparison shop at least once a year
The last tip in the list is incredibly critical, as was discussed in this article. Insurance rates in Raleigh can change considerably based on profitability, so don’t be tentative to change to a new company if you can save money.
Loyalty to a specific company is fine, but we do not recommend it if that devotion results in you overpaying money that could be spent on other things. In just a couple of minutes you could shop around to find cheaper insurance for welfare recipients.