Who Has the Cheapest Auto Insurance Quotes for High School Students in Durham?

The make and model of vehicle on the policy is one of the largest factors when comparing affordable coverage for high school students. Vehicles with high performance engines, poor safety ratings, or a high likelihood of having liability claims will cost significantly more to insure than safer models. The list below estimates car insurance premiums for the cheaper automobiles to insure.

Cheapest Vehicles to Insure in Durham, NC
Vehicle Make and Model Estimated Cost for Full Coverage
Honda CR-V LX 2WD $4,466
Ford Escape Limited 2WD $4,509
Toyota Prius $4,825
Ford Edge SE 2WD $4,979
Dodge Grand Caravan SE $5,022
Chevrolet Impala LS $5,253
GMC Sierra SLE Crew Cab 2WD $5,296
Chevrolet Silverado LS Extended Cab 4WD $5,303
Toyota RAV4 Sport 2WD $5,296
Jeep Grand Cherokee Laredo 2WD $5,306
Chevrolet Equinox LS AWD $5,296
Ford F-150 FX4 4WD $5,339
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $5,347
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Data variables include single male driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include claim-free, and safe-driver. Price information does not factor in garaging location in Durham, NC which can increase or decrease rates considerably.

Looking at the numbers, makes and models like the Honda CR-V, Ford Escape, Toyota Prius, Ford Edge, and Dodge Grand Caravan are going to be the cheapest vehicles to insure for teenagers. Car insurance rates will tend to be higher just due to the fact that there is more liability risk for high school students, but in general those makes and models will most likely have the least expensive rates compared to all other vehicles.

For teenagers, one of the big criteria that help determine the price you pay for insurance is where you live. More populated areas tend to have more expensive car insurance rates, whereas more rural areas tend to receive slightly lower rates.

The illustration below ranks the highest-priced places in North Carolina for high school students to purchase car insurance in. Durham shows up at #5 with an annual rate of $797 for the average insured, which is approximately $66 per month.

How much does car insurance cost in Durham, NC?
Rank City Annual Premium
1 Fayetteville $896
2 Jacksonville $873
3 Charlotte $832
4 Gastonia $811
5 Durham $797
6 Wilmington $781
7 Cary $765
8 Greensboro $756
9 Huntersville $756
10 Wilson $754
11 Indian Trail $753
12 High Point $745
13 Goldsboro $743
14 Greenville $738
15 Raleigh $737
16 Rocky Mount $718
17 Chapel Hill $717
18 Apex $717
19 Hickory $711
20 Salisbury $705
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Rate information is estimated as the garaging address in Durham can modify prices greatly.

Comparing rates for budget car insurance is not the easiest thing to accomplish, and finding out which companies offer the cheapest insurance rates for high school students calls for more quotes for comparison. Every insurance company uses their own method for filing rates in each state, so let’s take a look at the most affordable insurance companies in Durham.

It’s a good idea to know that North Carolina insurance rates are calculated based on many things which can substantially decrease or increase the cost of having a policy. This price fluctuation is why it is crucial to take the time to shop around to find the best insurance quotes for high school students. Insurance prices are impacted by many different factors and can change without notice, so the most affordable company six months ago may now cost much more than other companies.

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Rankings for the cheapest North Carolina auto insurance companies
Rank Company Cost Per Year
1 Progressive $639
2 Utica National $662
3 Liberty Mutual $700
4 Penn National $717
5 NC Farm Bureau $737
6 Titan $737
7 GEICO $742
8 State Farm $779
9 Auto-Owners $852
10 National General $881
11 Travelers $900
12 Allied $919
13 Erie $931
14 Peerless $1,002
15 Unitrin $1,002
16 Nationwide $1,031
17 MetLife $1,038
18 Safeco $1,044
19 Encompass $1,063
20 Allstate $1,064
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Progressive quotes some of the lowest car insurance rates in Durham at around $639 a year. Utica National, Liberty Mutual, Penn National, and NC Farm Bureau also qualify as some of the cheapest Durham, NC insurance companies.

As the rates illustrate above, if you are a customer of Utica National and switched to Progressive, you might achieve yearly savings of upwards of $23. Insureds with Liberty Mutual could save as much as $61 a year, and Penn National policyholders might cut rates by $78 a year.

These rates are averaged across all ages of drivers and types of vehicles and do not factor in a specific vehicle garaging location for high school students. So the insurer that fits your situation best may not even be in the top 20 companies shown above. That is why you need to compare as many prices as possible using your own driver information and specific vehicle type.

Careless driving habits raise Durham insurance rates

The best way to find the most affordable insurance prices for teenagers is to pay attention while driving and avoid traffic citations and accidents. The diagram below illustrates how violations and accidents impact annual premium costs for different categories of driver ages. The premiums are based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no additional discounts are factored in.

In the prior example, the average cost of auto insurance in North Carolina per year with a clean driving record and no accidents is $897. Add in two speeding tickets and the average cost swells to $1,227, an increase of $330 each year. Now add in two accidents along with the two speeding tickets and the 12-month cost of insurance for high school students goes up to an average of $2,607. That’s an increase of $1,710, or $143 per month, just for not driving safely!

Should you buy full coverage?

Reducing premiums for insurance is the goal of the majority of vehicle owners, and one of the easiest ways to find cheap insurance for high school students is to only buy liability insurance. The information below compares insurance costs with and without full coverage. Data assumes no accidents, no driving violations, $1,000 deductibles, single marital status, and no discounts are applied to the premium.

As an average, comprehensive and collision coverage on your policy costs $1,139 per year over and above liability only. That amount may make you wonder when is the right time to remove full coverage. There is no exact formula to stop paying for physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then you might consider buying liability only.

For example, let’s say your vehicle’s claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $2,000 after paying the physical damage deductible. If it’s costing you more than $200 a year for full coverage, then you might want to think about dropping full coverage.

Ratings for North Carolina insurance companies

Picking the best insurance company is difficult considering how many choices you have in Durham. The company rank data in the lists below could help you select which coverage providers to look at when buying insurance for high school students.

The ratings below are only made up of the largest auto insurers in America, so companies that may only write in North Carolina are not taken into consideration for the list. To compare prices from the insurers below and more, simply click here.

Best 15 Insurance Companies for High School Students in North Carolina
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

Shop around and save

North Carolina insurance rates are influenced by many factors that will increase or decrease the price of your policy. Simply turning a year older, having a claim, or getting into an accident can trigger rate changes that can make some companies more affordable than the competition. Not only may your risk profile change, but insurance companies change rates as often as every three months to adjust for heavy claims or excess profits. An extended period of higher than normal claims can result in additional premium costs, while a better claims history may result in cheaper Durham car insurance rates.

For example, the graph below shows rates for the cheapest car insurance in Durham, NC for a 45-year-old female driver with a clear driving record, no claims, and good financial standing. If we estimate rates based on her current risk profile, Progressive quotes the lowest car insurance rates in Durham at $715 per year. This is $157 less than the average policy premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, GEICO, and NC Farm Bureau also make the list of the best Durham, NC auto insurance companies.

Now let’s give the driver from above a chargeable claim, a lower credit rating, and a traffic citation. Due to the fact that every auto insurer has a proprietary formula for determining rates in each state, analyzing rate quotes will most likely result in a completely different list of affordable companies as shown below.

Penn National now has the lowest price on auto insurance in Durham with State Farm, Auto-Owners, Utica National, and National General also having competitive pricing. This example demonstrates why Durham drivers need to shop around when trying to get the most economical insurance quotes for high school students.

Insurance prices consist of many factors and change substantially, so the most affordable company the last time you shopped your coverage around may now be one of the higher cost companies.