You’ve seen the catchy advertisements from auto insurance companies like Allstate, GEICO, and Liberty Mutual that say if you switch you’ll get big savings. So you should just pick the company with the cutest commercial, right?
It’s just not that simple, as there are a whole bunch of unknowns like the amount of liability insurance you need, your credit history, how old you are, and whether you are married or single, that all impact the cost of your policy. The content below covers some of these criteria and should give you a good start in finding the cheapest insurance.
The type of vehicle needing coverage is one of the largest factors when comparison shopping for economical auto insurance for a school permit. Vehicles with lots of speed or power, a lack of safety features, or a history of substantial liability claims will cost more to insure than safer models. The table below illustrates auto insurance rates for a number of the more affordable automobiles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $3,692 |
| Honda CR-V EX-L 2WD | $3,728 |
| Ford Escape Limited 4WD | $3,962 |
| Volkswagen Jetta S 2.5 Station Wagon | $3,972 |
| Toyota Prius | $3,998 |
| Jeep Wrangler Sahara 4WD 2-Dr | $4,146 |
| Chevrolet Impala LS | $4,343 |
| Honda Civic DX 4-Dr Sedan | $4,352 |
| Ford Edge SE AWD | $4,343 |
| Chevrolet Malibu Hybrid | $4,380 |
| Toyota RAV4 2WD | $4,389 |
| Dodge Grand Caravan Crew | $4,416 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $4,426 |
| Ford Explorer Eddie Bauer 4WD | $4,416 |
| Toyota Camry XLE | $4,611 |
| Hyundai Elantra SE 4-Dr Sedan | $4,618 |
| Honda Odyssey EX-L W/Rear Entertainment | $4,611 |
| Compare Cheap Rates Go | |
Above prices assume single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, and safe-driver. Information does not factor in specific location which can lower or raise insurance rates considerably.
Looking at the data, we can infer that cars like the Honda Accord, Honda CR-V, Ford Escape, and Volkswagen Jetta are a few of the cheaper vehicles to insure for a learners permit. Auto insurance rates will tend to be higher because there is more liability risk for a school permit, but generally speaking those vehicles will most likely have the least expensive rates possible.
One of the more important criteria that determine car insurance rates is where your residence is in Raleigh. Areas with a lot of weather claims or more people are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower prices.
The table below shows the highest-priced areas in North Carolina for a school permit to purchase a policy in. Raleigh ranks #11 having an annual price of $737 for the average policyholder, which is approximately $61 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Fayetteville | $896 |
| 2 | Jacksonville | $864 |
| 3 | Charlotte | $816 |
| 4 | Gastonia | $811 |
| 5 | Durham | $773 |
| 6 | Cary | $765 |
| 7 | Wilmington | $765 |
| 8 | Greensboro | $756 |
| 9 | Huntersville | $742 |
| 10 | Apex | $739 |
| 11 | Raleigh | $737 |
| 12 | Goldsboro | $735 |
| 13 | Wilson | $732 |
| 14 | Greenville | $730 |
| 15 | High Point | $723 |
| 16 | Indian Trail | $723 |
| 17 | Rocky Mount | $718 |
| 18 | Hickory | $711 |
| 19 | Winston Salem | $709 |
| 20 | Salisbury | $705 |
| 21 | Chapel Hill | $703 |
| 22 | Kannapolis | $690 |
| 23 | Burlington | $671 |
| 24 | Concord | $669 |
| 25 | Asheville | $667 |
| Find the Best Rates Go | ||
Table data uses estimated as the garaging address in Raleigh can revise rates greatly.
Determining which insurers offer the cheapest auto insurance rates for a school permit will involve a bit more work in order to find the lowest price.
Each insurer has a different process for determining rates, so let’s examine the auto insurance companies with the overall cheapest rates in Raleigh.
Best Cheap Insurance Rates for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $651 |
| 2 | Utica National | $662 |
| 3 | NC Farm Bureau | $716 |
| 4 | Penn National | $717 |
| 5 | GEICO | $728 |
| 6 | Liberty Mutual | $728 |
| 7 | Titan | $737 |
| 8 | State Farm | $749 |
| 9 | Auto-Owners | $852 |
| 10 | National General | $917 |
| 11 | Allied | $928 |
| 12 | Erie | $931 |
| 13 | Travelers | $936 |
| 14 | Peerless | $972 |
| 15 | Unitrin | $1,012 |
| 16 | Nationwide | $1,031 |
| 17 | MetLife | $1,038 |
| 18 | Encompass | $1,041 |
| 19 | Allstate | $1,054 |
| 20 | Safeco | $1,076 |
| View More Rates Go | ||
Progressive may have some of the most affordable car insurance rates in Raleigh at around $651 each year. Utica National, NC Farm Bureau, Penn National, and GEICO are also some of the more affordable Raleigh, NC insurance companies.
In the rate table above, if you are a policyholder with Penn National and switched to Utica National, you may realize an annual premium reduction of approximately $55. Insureds with GEICO may save as much as $66 a year, and Liberty Mutual policyholders might lower prices by $66 a year.
Bear in mind that those premiums are averages across all insureds and vehicles and do not factor in a specific vehicle garaging location for a school permit. So the auto insurance company that fits your situation best may not even be in the top 20 companies shown above. That underscores the importance of why you need to quote rates from many companies using your own driver information and specific vehicle type.
Buying coverage from the best car insurance company can be rather challenging considering how many companies there are to choose from in Raleigh. The company rank data below can help you select which car insurance providers to look at purchasing from. The ratings below are only comprised of large nationwide companies, so companies that only write business in North Carolina or surrounding areas are not factored into this list.
Top 10 Large Car Insurance Companies Overall in Raleigh
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
The diagram below illustrates how choosing a deductible can influence insurance costs when trying to find cheap insurance for a school permit. The costs are based on a married male driver, comprehensive and collision coverage, and no additional discounts are factored in.
In the chart above, a 50-year-old driver could lower their policy premium by $208 a year by changing their physical damage coverage from a $100 deductible to a $500 deductible, or save $314 by switching to a $1,000 deductible. Younger drivers, such as the Age 20 example, could drop their prices $692 every year by choosing larger deductibles on their policy. When increasing deductibles, it is necessary to have enough savings to offset the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.
What aren’t you shopping around?
Raleigh, NC auto insurance rates are calculated based on many things that control the price you have to pay. Improving your credit rating, buying a home, or getting a speeding ticket can produce rate changes that may make certain companies much cheaper than others. Additionally, auto insurance companies modify rates every year or even multiple times each year to reflect underwriting profits or losses. Heavy losses may cause higher rates, while a better claims history can result in lower-cost Raleigh car insurance rates.
For instance, the graph below compares the cheapest car insurance in Raleigh, NC for a 30-year-old male driver with no prior accidents, a clean driving record, and a decent credit rating. Based on his current risk profile, Progressive may have the most affordable car insurance rates in Raleigh at $717 annually. This is $155 less than the average rate paid by North Carolina drivers of $872. Utica National, GEICO, Penn National, and Liberty Mutual are the remainder of the cheapest Raleigh, NC auto insurance companies.
In this example, we will give the driver from the first example a claim or two, poor credit, and a couple of points charged on his driving record. Because each insurer has a proprietary formula for determining prices, analyzing rate quotes could result in a different set of the cheapest car insurance companies in Raleigh as shown below.
Titan now has the cheapest insurance rate in Raleigh with State Farm, Auto-Owners, National General, and Utica National now rounding out the top five. This example demonstrates why it is critical to compare as many rates as possible to find the lowest car insurance rates for a school permit. Prices can be altered by many things and change dramatically, so the best option when you bought your policy may now not even be in the top five.
How to find budget-friendly insurance for a school permit
Here are many money-saving solutions that can help North Carolina drivers buy cheaper coverage.
- Frequent claims may make car insurance unaffordable
- Avoid getting tickets or violations
- Prevent price hikes by avoiding at-fault accidents
- If your vehicles are older, consider dropping full coverage
- Increase your deductibles
- Comparison shop frequently
The last item on the list is remarkably necessary, as was emphasized in the article above. Car insurance prices can be modified anytime, so don’t be hesitant to switch carriers if a lower-cost policy is available.
Sticking with a specific company is fine, but it’s not a good idea if that stubbornness costs you money that could be used for better things. Now is a great time to compare rates and find cheaper car insurance for a school permit in Raleigh.