Who Has the Cheapest Car Insurance Quotes for a 20 Year Old Male in Durham?

The words “economical” and “insurance” really shouldn’t be used in the same sentence, especially when looking for the best car insurance for 20 year old guys. Let’s open your eyes to a few of the things that impact car insurance premiums, and figure out some ways to reduce the cost of the next policy you buy.

The vehicle you are buying coverage for is probably the largest consideration that determines the availability of the cheapest car insurance for 20 year old guys. Vehicles with limited speed and performance, a great safety record, or a positive history of liability claims will cost substantially less to insure than high performance models.

The table below showcases coverage prices for a number of the more affordable automobiles to buy insurance for.

Cheapest Vehicles to Insure in Durham, NC
Vehicle Make and Model Estimated Cost for Full Coverage
Honda CR-V EX-L 4WD $2,708
Ford Escape XLT 4WD $2,713
Volkswagen Jetta S 2.5 Station Wagon $2,907
Honda Accord EX-L 4-Dr Sedan $2,917
Toyota Prius $2,946
Toyota Tacoma 4WD $2,969
Ford F-150 XL Regular Cab 4WD $2,974
Jeep Grand Cherokee Laredo 4WD $3,167
Chevrolet Equinox LT AWD $3,172
Chevrolet Malibu LS $3,167
Toyota RAV4 2WD $3,176
Chevrolet Impala LT $3,167
Dodge Ram Quad Cab ST 2WD $3,197
Dodge Ram 3500 Crew Cab Laramie 2WD $3,206
Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr $3,214
Ford Explorer Eddie Bauer 4WD $3,206
Dodge Grand Caravan SXT $3,214
Toyota Corolla S $3,364
Honda Odyssey EX-L W/Rear Entertainment $3,374
Ford Edge Limited AWD $3,364
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Data variables include single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in your specific Durham, NC location which can lower or raise premium rates substantially.

Based upon the table data, you can conclude that vehicles like the Honda CR-V, Ford Escape, Volkswagen Jetta, Honda Accord, and Toyota Prius are likely to be some of the more affordable vehicles to insure for young men. The price for an auto insurance policy will tend to be higher just due to the fact that there is more exposure for 20 year old guys, but in general those makes and models will most likely have the best insurance prices compared to other vehicles.

Determining which companies offer the best auto insurance rates for 20 year old guys will take a little more effort in order to find the best price. Every car insurance company has a unique formula for determining prices, so let’s take a look at the most competitive auto insurance companies in North Carolina.

It’s important to understand that Durham, NC auto insurance rates are impacted by many things which can significantly increase or decrease your annual premium. Simply improving your credit, moving across town, or having an at-fault accident may generate price changes resulting in some companies being cheaper in comparison to the competition.

Best Insurance Companies for Men Age 20

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Cheapest North Carolina auto insurance companies
Rank Company Cost Per Year
1 Utica National $643
2 Progressive $651
3 Liberty Mutual $721
4 NC Farm Bureau $737
5 Titan $737
6 Penn National $739
7 GEICO $750
8 State Farm $779
9 Auto-Owners $844
10 Allied $901
11 National General $917
12 Erie $922
13 Travelers $936
14 Peerless $1,002
15 Unitrin $1,012
16 Nationwide $1,031
17 Encompass $1,031
18 MetLife $1,049
19 Safeco $1,076
20 Allstate $1,086
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Utica National may have some of the cheapest car insurance rates in Durham at around $643 a year. This is $229 less than the average price paid by North Carolina drivers of $872. Progressive, Liberty Mutual, NC Farm Bureau, and Titan also qualify as some of the lowest-priced Durham, NC car insurance companies.

As the example above demonstrates, if you are a policyholder with NC Farm Bureau and switched to Utica National, you might see yearly savings of in the neighborhood of $94. Customers with Titan may save as much as $94 a year, and Penn National policyholders might reduce prices by as much as $96 a year.

Remember that these policy prices are averaged across all drivers and vehicles in North Carolina and do not factor in an exact vehicle garaging location for 20 year old guys. So the auto insurance company that has the lowest price for you may not even be in the list above. That illustrates why you need to compare as many prices as possible using your own driver and vehicle profiles.

For young men, one of the largest things that are used to help calculate the price you pay for insurance is where you keep your vehicle in Durham. Regions with more people or even just more weather-related claims tend to have more expensive car insurance rates, whereas less populated areas have the luxury of lower rates.

The illustration below sorts the priciest cities in North Carolina for 20 year old guys to purchase a policy in. Durham is ranked at #7 with the annual price of $765 for the average insurance policy, which is about $64 each month.

Car insurance prices in Durham
Rank City Annual Premium
1 Fayetteville $905
2 Jacksonville $891
3 Charlotte $832
4 Gastonia $803
5 Greensboro $786
6 Raleigh $767
7 Durham $765
8 Goldsboro $765
9 Huntersville $764
10 Wilmington $758
11 Wilson $754
12 Cary $742
13 Apex $739
14 Indian Trail $731
15 Greenville $730
16 High Point $723
17 Rocky Mount $718
18 Chapel Hill $717
19 Hickory $711
20 Winston Salem $709
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Information shown are estimated as the specific zip code location can revise price quotes significantly.

Ending up with a high-quality insurer can be difficult considering how many choices you have in Durham. The information shown next can help you pick which insurers to look at purchasing a policy from.

These ratings are for companies that insure vehicles across America, so companies with more of a regional focus are not taken into consideration for these rankings. To check rates from these companies and more, click this link.

Best Auto Insurance Companies for a 20 Year Old Male 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
Liberty Mutual 79 87 95 78% A 85.3
Farmers Insurance 77 80 80 84% A 80.3
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Data Source: Insure.com Best Car Insurance Companies

How accidents and tickets impact rates

A great way to enjoy the best auto insurance prices for young men is to drive attentively and not have accidents or get tickets. The chart below illustrates how speeding tickets and fender-benders influence auto insurance costs for each different age group. The premium estimates are based on a single male driver, full physical damage coverage, $250 deductibles, and no discounts are taken into consideration.

The data above shows the average cost of car insurance in North Carolina per year with no accidents and a clean driving record is $1,316. Get written up for two speeding tickets and the average cost swells to $1,739, an increase of $424 each year. Then add in two accidents along with the two speeding tickets and the 12-month cost of auto insurance for 20 year old guys goes up to an average of $3,303. That’s an increase of $1,987, or $166 per month, just for not driving responsibly!

Your cheap policy may actually be overpriced

Durham auto insurance rates are determined by lots of factors which can substantially change the price of your policy. Simply improving your credit, buying a different home, or getting a ticket for careless driving may prompt premium changes resulting in some companies being more affordable than competitors. In addition to those changes, car insurance companies change prices at least once a year to ensure their profitability. Larger than normal claims can result in higher rates, while lower claim expenses can produce cheaper Durham car insurance rates.

For instance, the bar chart below analyzes the cheapest car insurance in Durham, NC for a 45-year-old male driver with no accidents or violations, and a good credit history. When comparing rates based on his current risk profile, Progressive quotes the lowest car insurance rates in Durham at $745 annually. This is $127 less than the average premium paid by North Carolina drivers of $872. Utica National, Liberty Mutual, GEICO, and Penn National are also included in the most affordable Durham, NC auto insurance companies.

Now let’s give the driver from the above example a chargeable accident, slightly worse credit, and an imperfect driving record. Because every insurance company uses a different method to establish rates, getting updated rate quotes may result in a significantly different list of companies as shown below.

Titan now has the lowest car insurance rate in Durham, NC with State Farm, Auto-Owners, Allied, and Travelers now being in the top five. This example proves why it is critical to take the time to shop around to get the cheapest car insurance quotes for 20 year old guys. Insurance prices are made up of many risk factors and can change without notice, so the lowest-price company three years ago may now be costing you a lot of money.