Raleigh, NC Car Insurance
Experts break down auto insurance costs, coverages, companies, and more.
Even the best drivers can be involved in accidents. That is why vehicle owners in Raleigh, North Carolina are required to carry car insurance. From fender-benders on Hillsborough Street to multi-car collisions on I-40, a good auto insurance policy can prevent you from facing large financial losses as a result.
It is easy to find the best and most affordable coverage when you work with a local independent agent. These agents can help you obtain and compare customized quotes from some of the best car insurance companies in Raleigh, NC. Contact an independent insurance agent near you to get started.
How Much Does Car Insurance Cost in Raleigh, NC?
The average cost of car insurance in North Carolina, and in Raleigh in particular, is lower than the national average. This is great news for Raleigh residents who are looking for an affordable auto insurance policy.
- National average annual car insurance cost: $1,311
- North Carolina average annual car insurance cost: $986
- Raleigh average annual car insurance cost: $1,118
Of course, an average cost can only give you a ballpark idea of what you might actually be expected to pay. Car insurance rates can vary significantly from one driver to the next because they are based on a number of factors like:
- Details about the vehicle(s) you are insuring, like their make, model and year
- Your age, occupation, driving record, and whether you own or rent your home
- Information about other licensed drivers in your household
- How much liability coverage you are purchasing
- Which, if any, coverage options you are including in your policy
- Your claims history and credit score
- Whether you qualify for any offered car insurance discounts like a safe driver discount or a good student discount
Comparing rates from a variety of insurance companies enables you to choose the policy that offers the coverage you want at the lowest price.
What Are the Minimum Car Insurance Requirements in Raleigh, North Carolina?
In North Carolina, all vehicles must be covered by car insurance that meets or exceeds the following coverage requirements:
- Liability insurance: This covers other people’s medical bills and property damage if you are at fault for an accident. Your policy must have a minimum of:
- Bodily injury liability insurance per person: $30,000
- Bodily injury liability insurance per accident: $60,000
- Property damage liability insurance per accident: $25,000
- Uninsured motorist insurance (UIM): This covers your medical bills and property damage if you are in an accident caused by an uninsured driver. Your policy must include a minimum of:
- UIM bodily injury insurance per person: $30,000
- UIM bodily injury insurance per accident: $60,000
- UIM property damage insurance per accident: $25,000
An accident that involves serious injuries can easily exceed what a minimum coverage policy can cover. That is why many drivers in Raleigh opt to purchase car insurance that has higher-than-required liability limits.
Raleigh residents who have a lot to lose may also want to consider purchasing umbrella insurance in order to get even more liability coverage than their auto insurance policy can provide.
What Coverage Options Are Available with Your Car Insurance Policy in Raleigh, NC?
In addition to the mandatory liability and uninsured motorist coverage, your car insurance provider will offer a few coverage options that you may want to include in your Raleigh auto insurance policy. These options typically include:
- Full coverage: This covers damage to your own vehicle. It is typically required by lenders if you are still paying for your car and by dealerships if you are leasing it. Full coverage includes the following:
- Collision coverage: This covers the cost to repair or replace your vehicle if it is damaged or totaled in a collision, regardless of fault.
- Comprehensive coverage: This covers the cost to repair or replace your vehicle if it is damaged or totaled due to a non-collision hazard like a fallen tree or a flood.
- Medical payments coverage: This provides limited coverage for medical treatment for you and members of your household if you are injured in a collision, regardless of fault.
- Towing and roadside assistance coverage: This covers the costs of assistance if your car becomes disabled while you are on the road, such as if you run out of gas, get a flat tire, or have an overheated engine.
- Gap insurance coverage: This is beneficial if you owe more for your car than it is worth, which is common in the first year or two of new-car ownership. This coverage can pay off your car loan if your vehicle is totaled in a covered event.
- Rental car reimbursement coverage: This covers the cost to rent a vehicle while your own car is being repaired for damage sustained in a covered event.
By reviewing the details and costs of your various coverage options, you can best determine which, if any, are a good fit for you and your family.
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What Is the Penalty for Driving without Insurance in Raleigh, NC?
It is illegal to drive an uninsured vehicle in North Carolina. If caught, you can face the following penalties:
- A fine ranging from $50 to $150
- The suspension of your license plates for up to 30 days
- The need to pay a $50 restoration fee to reactivate your plates
- A Class 3 Misdemeanor conviction on your record
- Higher car insurance rates
The good news is that North Carolina has one of the lowest rates of uninsured drivers in the country:
- Percentage of US drivers who are uninsured: 13.0%
- Percentage of North Carolina drivers who are uninsured: 6.5%
Because uninsured motorist insurance is required in this state, you can rest assured that if you are involved in a collision caused by an uninsured driver, you can receive timely compensation for your injuries and property damage without the need to take legal action against the at-fault driver.
Does Car Insurance in Raleigh, NC Cover against Auto Theft?
The auto theft rate in the state of North Carolina is lower than the national rate, and in Raleigh, the rate is even lower. This is not to say the risk does not exist. Residents of this city report more than 700 auto thefts a year.
- National auto theft rate per 1,000 people: 2.29
- North Carolina auto theft rate per 1,000 people: 1.70
- Raleigh auto theft rate per 1,000 people: 1.57
You can only be compensated for a stolen vehicle if your car insurance policy includes comprehensive (or “other than collision”) coverage.
If you are financing or leasing your vehicle, chances are good that you have comprehensive insurance already. If not, you may want to find out how much it would cost for you to include it in your Raleigh car insurance policy. That way, you can best determine whether it is a good fit for you.
How Can an Independent Agent in Raleigh, NC Help You Find the Best Car Insurance?
When you are looking for a good auto insurance policy, you can turn to a local independent agent for help. These agents work for you, not for a particular insurance company, so they can shop around to find you a policy that provides all the coverage you want at a price you can afford.
Contact an independent insurance agent in or near Raleigh to get answers to your insurance-related questions and to start comparing customized quotes from some of the best car insurance companies in North Carolina.
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