Who Has Affordable Durham Car Insurance Rates for a Toyota RAV4?

Finding the cheapest car insurance for a Toyota RAV4 is usually pretty straightforward, but it hinges on a lot of rating criteria such as whether the vehicle is new, your geographic location, and any prior driving offenses. Drivers in North Carolina will pay on average $660 each year to insure their RAV4, but that is using a 30-year-old married female driver with full physical damage coverage and $500 deductibles.

When projecting a rate like this, the problem is that you aren’t exactly 30 years old or even a female, single instead of married, and maybe your RAV4 is older and does not require full coverage. Just a very minor change in rating factors or requested coverage amount can result in a massive change in rates.

Each driver’s needs are different, and that demonstrates why the only way to find the most affordable coverage for your Toyota is to compare as many rates as you can.

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Toyota RAV4 Insurance Rates in Durham, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
RAV4 2WD $152 $256 $254 $16 $76 $754 $63
RAV4 Sport 2WD $152 $256 $254 $16 $76 $754 $63
RAV4 4WD $152 $256 $254 $16 $76 $754 $63
RAV4 Limited 2WD $152 $256 $254 $16 $76 $754 $63
RAV4 Limited 4WD $152 $256 $254 $16 $76 $754 $63
RAV4 Limited 4WD $152 $256 $254 $16 $76 $754 $63
RAV4 Sport 4WD $152 $256 $254 $16 $76 $754 $63
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Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Premium amounts do not factor in zip code location which can revise premiums substantially.

Comparing rates for cheap car insurance is not the easiest thing to accomplish, and deciding which companies quote the best auto insurance rates for a Toyota RAV4 will involve even more perseverance.

Every insurance provider uses a little different formula to set their prices, so to begin we’ll rank the auto insurance companies with the overall cheapest rates in North Carolina.

Best Cheap Insurance Rates for Your Toyota

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Who has the cheapest car insurance in North Carolina?
Rank Company Cost Per Year
1 Progressive $651
2 Utica National $655
3 Penn National $717
4 Liberty Mutual $728
5 Titan $729
6 NC Farm Bureau $730
7 State Farm $749
8 GEICO $750
9 Auto-Owners $870
10 Travelers $900
11 National General $917
12 Erie $922
13 Allied $928
14 Peerless $1,002
15 Nationwide $1,011
16 Safeco $1,034
17 MetLife $1,038
18 Unitrin $1,042
19 Encompass $1,063
20 Allstate $1,086
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Progressive may have some of the most affordable car insurance rates in Durham at around $651 a year. Utica National, Penn National, Liberty Mutual, and Titan would also be considered some of the cheaper Durham, NC car insurance companies.

In the above example, if you are a policyholder with Liberty Mutual and switched to Utica National, you could earn a yearly price reduction of roughly $73. Insureds with Titan might save as much as $74 a year, and NC Farm Bureau policyholders might reduce rates by $75 a year.

To get a quick, customized rate comparison, click here to start your free quote or visit several of the following companies.

Bear in mind that those estimates are averages for all ages of drivers and types of vehicles and do not factor in an exact location for a Toyota RAV4. So the insurer that can offer you the lowest price may not even be in the top 20 companies in the list above. That helps illustrate why you need to get auto insurance quotes using your own driver information and specific vehicle type.

Liability rates compared to full coverage

Saving money when shopping for auto insurance is probably important to the majority of vehicle owners, and one way to lower the cost of insurance for a Toyota RAV4 is to only buy liability coverage. The diagram below shows the comparison of insurance costs with liability coverage only compared to full coverage. The premiums assume no claims or violations, $500 deductibles, drivers are single, and no other discounts are factored in.

On average, full coverage costs an extra $1,396 per year more than buying just liability insurance. That brings up the question if it’s a good idea to buy full coverage. There is no clear-cut rule of when to stop paying for comp and collision coverage, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.

For example, let’s pretend your vehicle’s replacement value is $10,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company will settle for is $9,000 after you pay the deductible. If it’s costing you more than $900 a year for your policy with full coverage, then you might want to think about dropping full coverage.

How accidents and tickets impact rates

The easiest way to earn the cheapest auto insurance prices in North Carolina for a RAV4 is to be a cautious driver and avoid accidents and keep your driving record clean. The information below demonstrates how speeding tickets and at-fault accidents impact insurance costs for different ages of insureds. The price estimates are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied.

The data above shows the average cost of auto insurance per year with no violations or accidents is $1,058. Receive two speeding tickets and the average cost surges to $1,449, an increase of $391 each year. Then include one accident along with the two speeding tickets and the yearly cost of auto insurance for a Toyota RAV4 increases to an average of $1,849. That’s an increase of $791, or $66 per month, just for not driving safely!

The example below demonstrates how deductible levels can increase or decrease yearly insurance costs when quoting cheap insurance for a Toyota RAV4. The premium estimates are based on a married female driver, full coverage, and no discounts are applied.

In the chart above, a 40-year-old driver could reduce rates by $204 a year by changing from a $100 deductible to a $500 deductible, or save $306 by selecting a $1,000 deductible. Young drivers, such as the 20-year-old chart data, could potentially save $504 every year just by choosing higher deductibles when buying full coverage. If you do raise deductibles, it will now be necessary to have additional savings on hand to satisfy the extra out-of-pocket expense, which is the main drawback of higher deductibles.