The words “low-priced” and “auto insurance” really shouldn’t be used together, in particular when comparison shopping for the best car insurance for nurses. Because it’s so expensive, let’s start the ball rolling by going over a few of the things that significantly impact car insurance premiums, and find out if we can help you reduce the cost of your next policy.
For health professionals, one of the largest factors that are looked at to determine the price you pay for insurance is where you live in Raleigh. Regions with more people or even just more weather-related claims tend to pay more, whereas areas with less crime or weather claims get the luxury of paying less.
The illustration below shows the most costly cities in North Carolina for nurses to buy auto insurance in. Raleigh is listed at #9 with an annual rate of $767 for the average insurance policy, which is about $64 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Fayetteville | $923 |
| 2 | Jacksonville | $873 |
| 3 | Charlotte | $808 |
| 4 | Gastonia | $803 |
| 5 | Durham | $789 |
| 6 | Greensboro | $786 |
| 7 | Wilmington | $781 |
| 8 | Cary | $772 |
| 9 | Raleigh | $767 |
| 10 | Goldsboro | $765 |
| 11 | Greenville | $760 |
| 12 | Wilson | $754 |
| 13 | High Point | $753 |
| 14 | Huntersville | $742 |
| 15 | Rocky Mount | $726 |
| 16 | Indian Trail | $723 |
| 17 | Chapel Hill | $717 |
| 18 | Apex | $717 |
| 19 | Hickory | $711 |
| 20 | Burlington | $699 |
| 21 | Salisbury | $691 |
| 22 | Kannapolis | $690 |
| 23 | Winston Salem | $688 |
| 24 | Concord | $669 |
| 25 | Asheville | $667 |
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Annual rates are approximated as the specific geographic location can change price quotes noticeably.
The vehicle model requiring insurance is one of the main factors when shopping around for economical car insurance for nurses. Vehicles with lower acceleration and performance, a great safety record, or a low likelihood of liability claims will cost significantly less to insure than fast, unsafe models. The information below outlines coverage costs for some of the cheaper vehicles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 4WD | $1,051 |
| Honda CR-V EX-L 2WD | $1,056 |
| Toyota RAV4 Limited 4WD | $1,214 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,237 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,256 |
| Honda Accord LX-P 4-Dr Sedan | $1,258 |
| Ford F-250 XL 2WD | $1,302 |
| Toyota Prius | $1,307 |
| Ford Fusion Sport 4-Dr Sedan | $1,302 |
| Nissan Rogue S 2WD | $1,310 |
| GMC Sierra 2500HD SLT Crew Cab 4WD | $1,364 |
| Honda Odyssey LX | $1,380 |
| Chevrolet Silverado 2500HD LT Crew Cab Diesel 4WD | $1,387 |
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Table data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Premium amounts do not factor in the specific area where the vehicle is garaged which can increase or decrease premium rates considerably.
Based upon these rates, models like the Ford Escape, Honda CR-V, Toyota RAV4, and Dodge Ram 3500 are most likely to be some of the less-costly vehicles to insure for health professionals.
Deciphering which company offers the cheapest car insurance rates for nurses involves a bit more effort than just picking a company at random. Each insurance company has a different formula to set their prices, so let’s look at the rankings for the car insurance companies with the most affordable rates in North Carolina.
Find the Best Cheap Insurance for Health Occupations
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Utica National | $636 |
| 2 | Progressive | $651 |
| 3 | Liberty Mutual | $707 |
| 4 | NC Farm Bureau | $716 |
| 5 | GEICO | $720 |
| 6 | Penn National | $747 |
| 7 | Titan | $759 |
| 8 | State Farm | $772 |
| 9 | Auto-Owners | $852 |
| 10 | Allied | $892 |
| 11 | Erie | $904 |
| 12 | National General | $908 |
| 13 | Travelers | $909 |
| 14 | Peerless | $1,002 |
| 15 | Unitrin | $1,002 |
| 16 | MetLife | $1,007 |
| 17 | Nationwide | $1,011 |
| 18 | Encompass | $1,031 |
| 19 | Safeco | $1,044 |
| 20 | Allstate | $1,054 |
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Utica National may have some of the best car insurance rates in Raleigh at around $636 a year. Progressive, Liberty Mutual, NC Farm Bureau, and GEICO would also make the list of some of the lowest-priced Raleigh, NC insurance companies.
As shown in the table above, if you are a customer of Liberty Mutual and switched to Utica National, you may see a yearly price reduction of approximately $71. Insureds with NC Farm Bureau may save as much as $80 a year, and GEICO policyholders might see rate reductions of $84 a year.
These rates are averaged across all types of insureds and vehicles and do not factor in a vehicle location for nurses. So the car insurance company that fits you best may not even be in the list above. That point stresses why you need to get quotes using your own specific driver information and vehicle.
Liability only or full coverage
Saving on car insurance is important to most drivers, and one of the quickest ways to find cheaper insurance for nurses is to buy only liability coverage. The information below shows the comparison of auto insurance costs when comparing full coverage to liability only. Data assumes a clean driving record, no claims, $500 deductibles, marital status is single, and no discounts are taken into consideration.
If averaged out across all ages, full coverage costs an extra $1,181 per year over and above liability only. That is a large expense and it proposes the question if buying full coverage is worth the expense. There is no definitive guideline for eliminating comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
There are some circumstances where only buying liability is not recommended. If you still have a lienholder on your title, you must maintain physical damage coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not drop full coverage.
Types of discounts on Raleigh car insurance rates
Car insurance companies that sell policies for nurses may provide policy discounts that may potentially lower prices by as much as 30% if you are eligible. Large car insurance companies and a summarized list of policyholder discounts are shown below.
- Mercury Insurance has discounts for professional/association, multi-car, location of vehicle, good student, type of vehicle, age of vehicle, and multi-policy.
- Farmers Insurance may include discounts for distant student, bundle discounts, homeowner, pay in full, business and professional, and youthful driver.
- Farm Bureau includes discounts for youthful driver, driver training, renewal discount, safe driver, 55 and retired, and multi-policy.
- State Farm policyholders can earn discounts including good driver, passive restraint, multiple autos, driver’s education, Steer Clear safe driver discount, accident-free, and good student.
- Allstate offers discounts for good student, multi-policy, eSmart discount, good payer, resident student, and FullPay discount.
- GEICO offers premium reductions for multi-vehicle, air bags, military active duty, emergency military deployment, and multi-policy.
The information below visualizes the comparison of premium costs with and without discounts applied to the policy premium. Data assumes a female driver, a clean driving record, no at-fault accidents, North Carolina state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with claim-free, safe-driver, anti-theft, accident-free, multiple vehicle, and defensive driving course discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on car insurance for nurses is 28% or $422.
The chart below demonstrates how choosing different deductibles can raise or lower insurance costs when researching cheap insurance for nurses. The rate quotes are based on a single female driver, full coverage, and no other discounts are factored in.
A 40-year-old driver could lower their policy premium by $266 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $400 by using a $1,000 deductible. Youthful drivers, such as the 20-year-old example, could lower their rates up to $684 or more by choosing a larger deductible amount.
If you do decide to increase your deductibles, it is important to have plenty of savings on hand to offset the extra out-of-pocket expense, which is the main drawback of higher deductibles.