Who Has Affordable Auto Insurance for Seniors in Durham?

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You have surely seen all the captivating ads from companies like The General, Farmers, and Nationwide that make claims of the cheapest price. So you just need to select the one with the best jingle, right?

It's not quite that easy, unfortunately, as there are a whole slew of unknown elements such as whether you want full coverage, the number of miles you drive in a year, and the area where you live, that all influence how much you pay for auto insurance. This article will discuss the things that influence insurance rates and will hopefully give the reader a jump start in finding the best auto insurance.

Buying cost effective car insurance is easier said than done, and deciding which company quotes the cheapest insurance rates for seniors may require even more rate comparisons. Every insurance company has a unique formula for setting prices, so let's begin by taking a look at the insurance companies that tend to be cheaper in North Carolina.

We do need to point out that Durham insurance rates are impacted by many things that can increase the price you pay. This price variation is why North Carolina drivers need to compare lots of rates to get the most affordable car insurance rates for seniors. Rates consist of many factors and change dramatically, so the lowest-price company three years ago may now cost much more than other companies.

Best Car Insurance Prices for Mature Drivers

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Cheapest auto insurance in North Carolina ranked by cost per year
Rank Company Cost Per Year
1 Utica National $636
2 Progressive $651
3 NC Farm Bureau $716
4 Liberty Mutual $721
5 Titan $737
6 GEICO $742
7 Penn National $747
8 State Farm $779
9 Auto-Owners $870
10 Allied $901
11 Travelers $909
12 National General $917
13 Erie $922
14 Peerless $1,002
15 Unitrin $1,002
16 Nationwide $1,011
17 MetLife $1,018
18 Safeco $1,034
19 Encompass $1,041
20 Allstate $1,054
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Utica National quotes some of the cheapest car insurance rates in Durham at around $636 each year. Progressive, NC Farm Bureau, Liberty Mutual, and Titan are also some of the cheapest Durham, NC auto insurance companies.

As shown in the table above, if you have coverage with NC Farm Bureau and switched to Utica National, you might see annual savings of about $80. Policyholders with Liberty Mutual might save as much as $85 a year, and Titan customers might lower prices by $101 a year.

These prices are averages across all types of insureds and vehicles and are not factoring in a vehicle location for seniors. So the insurer that can offer you the best price may not even be in the top 20 companies in the list above. That emphasizes why you need to get rate quotes from many companies using your own driver information and specific vehicle type.

For senior citizens, one of the largest things that are looked at to help calculate the amount you pay for auto insurance is your zip code. Areas with more people or even just a higher incidence of claims are more likely to have higher rates, whereas areas with lower crime rates and fewer weather claims tend to receive slightly lower rates.

The illustration below shows the most expensive places in North Carolina for seniors in which to purchase auto insurance. Durham is ranked #7 costing $765 for the average insured, which is approximately $64 per month.

How much does car insurance cost in Durham, NC?
Rank City Average Per Year
1 Fayetteville $896
2 Jacksonville $864
3 Charlotte $816
4 Gastonia $811
5 Wilmington $788
6 Greensboro $779
7 Durham $765
8 Raleigh $760
9 Wilson $754
10 Indian Trail $753
11 Rocky Mount $748
12 Cary $742
13 Greenville $738
14 Goldsboro $735
15 Huntersville $734
16 Apex $725
17 High Point $723
18 Hickory $711
19 Chapel Hill $703
20 Kannapolis $697
21 Winston Salem $695
22 Salisbury $684
23 Burlington $671
24 Concord $669
25 Asheville $667
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Rate quotes are approximated as the specific garaging location can lower or raise rates significantly.

The vehicle model you are trying to insure is one of the biggest factors that determines whether or not you find cheaper coverage for seniors. Vehicles with economical engines, good crash test ratings, or a track record of few liability claims will cost significantly less to insure than fast, unsafe models.

The table below estimates insurance rates for a number of the cheapest automobiles to insure.

Cheapest Vehicles to Insure in Durham, NC
Vehicle Estimated Cost for Full Coverage
Honda CR-V EX-L 2WD $917
Ford Escape XLT 4WD $924
Toyota Prius $994
Dodge Grand Caravan CV $1,004
Ford Explorer XLT AWD $1,012
Chevrolet Malibu Hybrid $1,060
Jeep Grand Cherokee Laredo 2WD $1,070
Toyota RAV4 2WD $1,060
Volkswagen Jetta LE 4-Dr Sedan $1,069
Toyota Camry LE $1,060
Ford F-150 Lariat Super Cab 2WD $1,081
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $1,089
Honda Civic VP 4-Dr Sedan $1,095
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Data assumes married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Information does not factor in your specific Durham, NC location which can increase or decrease auto insurance rates greatly.

Based upon the rates shown, we can presume that cars like the Honda CR-V, Ford Escape, Toyota Prius, Dodge Grand Caravan, and Ford Explorer are most likely going to be a few of the cheapest vehicles to insure for senior citizens.

Discounts on Durham auto insurance

Insurance for senior citizens in Durham, NCInsurers that provide coverage for seniors may also provide special discounts that can reduce rates by as much as 25% or more if you meet specific criteria. Companies and a partial list of their discounts can be found below.

The information below illustrates the comparison of yearly insurance costs with and without some available policy discounts. The premiums are based on a female 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 the average rate with no discounts. The lower bar shows the rates with marriage, claim-free, vehicle safety, anti-theft, multiple vehicle, and defensive driving course discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on insurance for seniors is 29% or $362.

The example below shows how choosing a deductible can change premium costs when getting quotes for cheap insurance for seniors. The information is based on a single female driver, comprehensive and collision coverage, and no discounts are factored in.

As shown above, a 40-year-old driver could save $196 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $298 by changing to a $1,000 deductible. Even younger insureds, like the 20-year-old category, could save as much as $502 or more just by choosing higher deductibles. If you do make the decision to raise your deductibles, it will be necessary to have additional funds in a savings account to enable you to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.

Responsible drivers pay cheaper Durham insurance rates

The ideal way to score cheap insurance prices for senior citizens is to be a careful driver and have a clean driving record. The chart below highlights how traffic violations and at-fault fender-benders can raise insurance rates for different age groups. The premiums are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied.

The data in the chart shows the average cost of auto insurance in Durham per year with a clean driving record and no accidents is $1,189. Factor in one speeding ticket and the average cost hikes up to $1,369, an increase of $180 each year. Then include two accidents along with the one speeding ticket and the yearly cost of insurance for seniors increases to an average of $3,069. That's an increase of $1,879, or $157 per month, just for not driving responsibly!