Cheapest and Best Car Insurance in Raleigh, NC (2024)

Finding the most affordable or best car insurance in Raleigh, North Carolina, depends on coverage options and driver specifics. North Carolina Farm Bureau is the most economical provider for minimum and full coverage car insurance. It is also the best overall and offers the best value in both price and service. State Farm is the cheapest for families with teens. Erie is the leading choice in terms of service. Choose based on your unique needs and desired coverage.

MoneyGeek found that North Carolina Farm Bureau offers the cheapest car insurance with minimum coverage in Raleigh.

• North Carolina Farm Bureau: $291 per year
• State Farm: $325 per year

Allstate has the most expensive minimum coverage policy in Raleigh, with an average annual premium of $1,050, which is significantly higher than North Carolina Farm Bureau's. This stark price disparity highlights the importance of comparing rates to ensure you get the best car insurance deal.

In North Carolina cities like Raleigh, state law dictates the mandatory car insurance coverages:

• $30,000 bodily injury per person
• $60,000 bodily injury per accident
• $25,000 property damage liability per accident
• $30,000 uninsured motorist bodily injury per person
• $60,000 uninsured motorist bodily injury per accident
• $25,000 uninsured/Underinsured property damage coverage

Let's say your minimum coverage policy pays $30,000 for bodily injury liability per person. If you're at fault in an accident and the other person's medical bills total $45,000, your policy covers the first $30,000. However, you'd be responsible for the remaining $15,000 out of pocket. Remember, minimum coverage laws are basic requirements, and it's wise to consider your needs before choosing a policy.

MoneyGeek found that North Carolina Farm Bureau offers the most affordable full coverage car insurance in Raleigh. Securing the cheapest full coverage car insurance is important for drivers looking to balance comprehensive protection with cost savings. Here are the two most economical providers in Raleigh:

• North Carolina Farm Bureau: $556 per year
• State Farm: $587 per year

Allstate offers the most expensive full coverage policy in Raleigh at around $2,097 annually. The significant price gap of $1,541 between the cheapest and costliest options underscores why it's crucial to compare rates for full coverage policies. They include comprehensive and collision coverage in addition to standard liability, thus costing higher than minimum coverage policies.

Full coverage insurance encompasses more than just elevated liability limits. It consists of both comprehensive and collision coverage, each serving distinct protective functions:

• Collision Insurance: This insures your automobile against damages resulting from impacts with another car or object like a tree or light pole. It also covers rollover accidents and pothole damage.

• Comprehensive Insurance: This compensates for your vehicle’s damage from various non-collision incidents, such as theft, vandalism, fires, natural disasters or being hit by an animal like a deer.

For those purchasing a new vehicle, choosing full coverage insurance is essential to protect your substantial investment. However, owners of older vehicles should weigh the value of added coverage against the cost, as it can amount to several hundred dollars more a year. In determining how much car insurance you need, consider the higher premiums associated with increased coverage against the potential financial risk of being underinsured.

In Raleigh, North Carolina Farm Bureau is the cheapest company for drivers with a poor driving record. Here are the most affordable annual premiums for each violation:

• Speeding Ticket: North Carolina Farm Bureau ($794 per year)
• At-Fault Accident: North Carolina Farm Bureau ($730 per year)
• DUI: North Carolina Farm Bureau ($1,999 per year)

Allstate has the most expensive rates for drivers with speeding tickets and DUIs, at an average annual premium of $3,098 and $8,783, respectively. GEICO is the least affordable for those with an at-fault accident, costing around $2,867 per year.

The cost difference between the cheapest rate after a speeding ticket and the most affordable rate after a DUI with North Carolina Farm Bureau is significant, highlighting the impact that the severity of a driving offense has on car insurance premiums.

In Raleigh and other cities, insurance rates increase in correlation to the severity of a driving offense. For example, drivers with a speeding ticket may face an average annual rate of $2,133, while those with a DUI could see a higher average annual cost of $5,380. It is crucial for individuals with driving infractions to compare insurance quotes diligently, as finding the most competitive rate can lead to substantial savings.

MoneyGeek found that State Farm offers the most affordable full coverage car insurance for female and male teens in Raleigh. These providers have the cheapest car insurance for teens:

• State Farm: $1,324 per year for female and male teens
• Nationwide: $1,532 per year for female and male teens

The premiums listed reflect the cost of a policy covering two parents and a teen driver. GEICO has the highest rate for a family policy in Raleigh at around $4,711 annually for female and male teen drivers. This substantial $3,387 difference in annual premium compared to State Farm highlights the importance of researching and comparing rates to capitalize on potential savings, especially when insuring high-risk drivers like teenagers.

In Raleigh, the cost of a teen's car insurance can be significantly lowered by opting for a joint family policy rather than an individual one. A teen purchasing an individual policy can expect to pay about $3,342 annually, compared to the $2,733 average for those included in a family plan. The steep difference of more than $600 reflects the high-risk profile associated with young, inexperienced drivers. Insurance companies often hesitate to approve individual policies for teens. When they do, the premiums are substantially higher to offset the potential for costly claims. Consequently, a joint family policy becomes the more economical and often viable choice for teen drivers.

MoneyGeek found that North Carolina Farm Bureau offers the cheapest car insurance for military backgrounds in Raleigh.

• North Carolina Farm Bureau: $556 per year
• State Farm: $587 per year

Although USAA isn't in this study, it typically offers competitive rates and specializes in services tailored to the needs of active duty military members. It is generally considered one of the more affordable car insurers at a national level.

For drivers in Raleigh, finding affordable car insurance necessitates a thorough comparison of rates, a process that can take more than an hour when considering multiple companies.

However, with MoneyGeek's car insurance calculator, this time-consuming task is simplified. By inputting key details such as age, driving history, credit score and coverage preferences, you receive an immediate estimate tailored to the essential factors affecting insurance rates in the area. This tool streamlines the search for cost-effective policies.

Selecting the right auto insurance is a balancing act, incorporating factors like service, cost and coverage to align with your priorities. MoneyGeek's tailored research evaluates these criteria with distinct scoring systems, revealing the top insurers in Raleigh for varied consumer needs.

• Best overall: North Carolina Farm Bureau (MoneyGeek score 91 out of 100)
• Best for service: Erie (MoneyGeek score 85 out of 100)
• Best cheap: North Carolina Farm Bureau (MoneyGeek score 91 out of 100)

North Carolina Farm Bureau is the top provider for overall value and affordability, standing out for Raleigh residents seeking a blend of service and cost-effectiveness. Erie excels in customer service, offering premium experiences for those not primarily driven by price. Each company caters to distinct preferences, ensuring consumers have options suitable for their unique insurance needs.

MoneyGeek found that North Carolina Farm Bureau is the top option in Raleigh for those seeking the best car insurance. When it comes to top-rated car insurance providers, the following two are distinguished by their MoneyGeek scores and competitive annual premiums:

• North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($556 per year)
• Erie: MoneyGeek score of 88 out of 100 ($671 per year)

North Carolina Farm Bureau stands out primarily due to its unparalleled customer satisfaction and affordability. With the highest scores in these two crucial categories, it takes the lead for a full coverage policy. Its commitment to client satisfaction and reasonable pricing sets it apart in Raleigh's competitive insurance landscape.

MoneyGeek found that Erie is the best option in Raleigh for outstanding car insurance customer service. It excels in overall satisfaction, handling of claims and breadth of coverages.

• Erie: MoneyGeek score of 85 out of 100 ($670 per year)
• North Carolina Farm Bureau: MoneyGeek score of 84 out of 100 ($556 per year)

Erie distinguishes itself in Raleigh's competitive car insurance market, achieving top general satisfaction and offering robust coverages. These factors are significant contributors to its leading MoneyGeek score.

MoneyGeek found that North Carolina Farm Bureau is the best option in Raleigh for consumers seeking the optimal mix of affordability and quality in their car insurance. The company's exceptional combination of cost savings and customer satisfaction secures its top position.

• North Carolina Farm Bureau: MoneyGeek score of 91 out of 100 ($291 per year)
• Erie: MoneyGeek score of 89 out of 100 ($337 per year)

North Carolina Farm Bureau offers the most competitive rates and performs well in customer satisfaction and claims handling. The company's MoneyGeek score for a minimum coverage policy is impressive, indicating that drivers can enjoy significant savings without compromising service quality.

Drivers in Raleigh, North Carolina, face an average car insurance premium of $1,071 per year. Compared to the North Carolina state average of $1,051 per year, Raleigh's average cost is slightly higher by $20. The state average itself is quite favorable than the national average cost of car insurance of $1,781, with North Carolina residents paying around $731 less per year.

Car insurance premiums are influenced by various factors, including the driver's profile and the make and model of the car they drive. However, location plays a crucial role, as it can affect rates due to variables like the likelihood of accidents, thefts and other risks. MoneyGeek's data shows Fayetteville as the city with the most expensive average car insurance premium at $1,308, which is $257 above the state average. In contrast, the city of Durham enjoys the cheapest average premium at $914, underscoring a $137 drop from the state average. These rate differences highlight how rates can differ significantly within a state. Rural areas or places with lower traffic density may even have more affordable rates.