Who Has Cheap Car Insurance Rates for Drivers Over Age 70 in Durham?

You have most likely watched the commercials from auto insurance companies like Allstate and Farmers that claim the cheapest price. So drivers should just choose the one with the most memorable commercial, right?

That is not the case, however, as there are a whole bunch of unknowns like your credit rating, the number of miles you drive in a year, and if you own a home, that all influence how much you pay for auto insurance. The content below covers the best ways to compare rates and should give you some help in finding cheaper rates.

Trying to buy low-cost auto insurance is not easy, and figuring out which companies have the most affordable insurance rates for drivers over age 70 will take a little more work. Each company has a unique formula to set their prices, so first let’s look at the rankings for the overall cheapest insurance companies in North Carolina.

Cheapest Insurance Rates for Age 70+

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North Carolina car insurance ranked by cost per year
Rank Company Cost Per Year
1 Progressive $639
2 Utica National $662
3 NC Farm Bureau $716
4 Penn National $717
5 GEICO $720
6 Liberty Mutual $721
7 Titan $751
8 State Farm $779
9 Auto-Owners $870
10 National General $890
11 Travelers $900
12 Erie $904
13 Allied $919
14 Peerless $992
15 Nationwide $1,031
16 Safeco $1,034
17 Encompass $1,041
18 Unitrin $1,042
19 MetLife $1,049
20 Allstate $1,086
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Progressive quotes some of the best car insurance rates in Durham at around $639 a year. Utica National, NC Farm Bureau, Penn National, and GEICO would also be considered some of the cheaper Durham, NC car insurance companies.

In the rate table above, if you are currently insured with Penn National and switched to Utica National, you might see savings of in the neighborhood of $55. Insureds with GEICO could save as much as $58 a year, and Liberty Mutual policyholders might see rate reductions of $59 a year.

Be aware that those premiums are averages for all insureds and vehicles and and are not calculated with a specific zip code for drivers over age 70. So the auto insurance company that fits you best may not even be in the top 20 companies shown above. That affirms the importance of why you need to get rate quotes using your own personalized driver profile and vehicle information.

For older drivers, one of the more important components that determine the amount you pay each year for auto insurance is where you keep your car in Durham. Larger areas tend to have higher rates, whereas more rural areas can boast about having cheaper rates.

The illustration below sorts the priciest cities in North Carolina for drivers over age 70 in which to buy car insurance. Durham ranks #7 with a yearly premium of $773 for the average policyholder, which is around $64 monthly.

How much is auto insurance in Durham, NC?
Rank City Annual Rate
1 Jacksonville $900
2 Fayetteville $896
3 Charlotte $840
4 Wilmington $788
5 Gastonia $787
6 Greensboro $786
7 Durham $773
8 Raleigh $767
9 Goldsboro $758
10 Huntersville $756
11 Greenville $752
12 High Point $745
13 Cary $742
14 Wilson $732
15 Hickory $732
16 Indian Trail $731
17 Apex $725
18 Rocky Mount $718
19 Chapel Hill $717
20 Winston Salem $709
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Price information shown is comparative as the specific garaging location can affect premium rates substantially.

The vehicle driven is one of the primary factors when looking for low-cost coverage for drivers over age 70. Vehicles with economical engines, an excellent safety record, or a positive history of liability claims will cost substantially less to insure than fast, unsafe models.

The information below outlines coverage premiums for a handful of the cheaper automobiles to buy insurance for.

Cheapest Vehicles to Insure in Durham, NC
Make and Model Estimated Cost for Full Coverage
Honda CR-V EX 2WD $1,321
Ford Escape Limited 4WD $1,422
Toyota Prius $1,441
Ford Edge SE 2WD $1,465
Dodge Grand Caravan SE $1,486
Volkswagen Jetta SE 2.5 Station Wagon $1,524
Chevrolet Impala LS $1,545
Toyota RAV4 4WD $1,566
Chevrolet Malibu Hybrid $1,575
Toyota Camry LE $1,566
Chevrolet Equinox LS 2WD $1,574
Jeep Grand Cherokee Laredo 2WD $1,566
Ford Explorer Limited AWD $1,585
Ford F-150 Lariat Crew Cab 2WD $1,594
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $1,585
Chevrolet Silverado LS Regular Cab 2WD $1,587
Honda Civic LX-S 4-Dr Sedan $1,628
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Table data assumes single male driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, multi-policy, multi-vehicle, and claim-free. Information does not factor in vehicle location which can affect prices considerably.

Based upon the table data, we can tell that vehicles like the Honda CR-V, Ford Escape, Toyota Prius, and Ford Edge are most likely going to be a few of the most budget-friendly vehicles to insure for older drivers. The price of auto insurance will tend to be higher just because there is more claim risk for drivers over age 70, but overall those models will have the best rates compared to other types of vehicles.

Best insurance in North Carolina

Ending up with a good quality insurance provider is difficult considering how many choices there are in North Carolina. The company information shown below can help you analyze which car insurance companies you want to consider putting your business with. The rankings below only include large insurance companies, so smaller regional companies are not factored into this list.

Top 15 Insurance Companies for Drivers Over Age 70 in Durham, NC
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
21st Century 86 82 90 84% A 86.4
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Data Source: Insure.com Best Car Insurance Companies

How to get discounts on Durham car insurance

Insurance for older drivers in Durham, NCInsurance providers that offer coverage for drivers over age 70 may also give you policy discounts that could reduce prices by 35% or more if you meet eligibility requirements. Companies and some of the discounts are detailed below.

The information below shows the comparison of insurance prices with and without discounts applied to the policy rates. The price estimates are based on a female driver, no driving violations, no at-fault accidents, North Carolina state minimum liability limits, full coverage, and $250 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with vehicle safety, anti-theft, passive restraint, defensive driving course, multiple vehicle, and multiple policy discounts applied. When taking advantage of discounts, the average savings per year on insurance for drivers over age 70 is 28% or $468.

Full coverage versus liability-only in Durham

Saving money on insurance is the goal of most people, and an effective way to buy cheaper insurance for drivers over age 70 is to not insure for full coverage. The chart below shows the comparison of insurance premiums when comparing full coverage to liability only. The rate quotes are based on no claims, a clean driving record, $100 deductibles, drivers are not married, and no discounts are applied to the premium.

If we average the cost for ages 20 through 70, comp and collision coverage costs $1,918 per year over having just liability coverage. That amount may make you wonder if it’s worth it to buy full coverage. There is no set rule of when to phase out full coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.

For example, let’s pretend your vehicle’s replacement value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $8,000 after paying your policy deductible. If you are currently paying more than $800 a year to have full coverage, then it could be time to drop full coverage.

How to find low-cost auto insurance for drivers over age 70

The list below summarizes some thrifty ideas that can help you find more affordable coverage.

That final tip is especially valuable, as we emphasized in the prior information. Insurance rates in Durham adjust frequently, so don’t be hesitant to change insurance companies if a more affordable price is available.

Having a favorite company is great, but it isn’t a good idea if that dedication is costing thousands of dollars over several years. Spend a few minutes and compare prices to find cheaper car insurance for drivers over age 70.

If you aren’t sure which coverage to buy and prefer to have the advice of a professional agent when comparing insurance rates for older drivers, the agents listed below can provide answers to your questions and help you determine which coverage meets your needs best.

To locate a Durham car insurance agency close to you, click the button link following the list.

George Stevens Insurance Inc
1320 Hill StDurham, NC 27707(919) 403-3611

Leslie Robinson State Farm Insurance
105 W North Carolina 54 #263Durham, NC 27713(919) 206-5096

NC Farm Bureau Insurance
2902 S Miami Blvd Ste ADurham, NC 27703(919) 544-4953

Insurance Pros: Paradis James
3200 Croasdaile Dr # 603Durham, NC 27705(919) 294-6613

Joshua E. Matthews Insurance Agency, Inc.
2144 Page Rd Suite 106Durham, NC 27703(919) 598-6800

Find a Durham, NC insurance agent near you