Raleigh Car Insurance

Your Complete Guide to Raleigh, NC Car Insurance

Even the most experienced drivers can sometimes be involved in vehicle accidents. That is why vehicle owners in Raleigh are required by state law to have auto insurance. From fender benders on Glenwood Avenue to multi-car collisions on the Knightdale Bypass, a reliable auto insurance policy can shield you from a large financial loss in the wake of a collision.

Finding the best car insurance is easy when you work with an independent insurance agent. One of the many agents in Raleigh can provide you with a variety of customized auto insurance quotes so you can be sure you are purchasing a competitively priced policy.

 North Carolina Car Insurance Requirements

As a resident of North Carolina, your car insurance policy must include, at a minimum, the following:

  • Bodily injury liability: Required
  • Property damage liability: Required
  • Personal injury protection (PIP): Not required
  • Uninsured motorist coverage: Required
  • Minimum liability limits: 30/60/25; coverage up to $60,000 for all persons injured in an accident, subject to a limit of $30,000 for one individual; and $25,000 coverage for property damage.

A minimum-coverage policy may be your least expensive option; however it is not necessarily the best choice. While North Carolina’s requirements are high enough cover you for most minor collisions, a major accident — especially one that results in significant injuries — can easily exceed what a minimum coverage policy will cover. In that case you would be responsible for making up the difference out of pocket. 

That is why many Raleigh vehicle owners choose to purchase car insurance with higher liability insurance limits than North Carolina requires. Some residents also purchase umbrella insurance in order to get even more liability coverage. Your independent agent can help you find the liability coverage you need at a price you can afford.

How Much Does Car Insurance Cost in Raleigh, NC?

North Carolina is the 7th least expensive state for car insurance, which is great news for resident drivers. In Raleigh, the average cost for coverage is only slightly higher than the state average. By shopping for rates, you can find coverage at a great price.

  • 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, the averages shown above only give you a general idea of how much you might be expected to pay. Car insurance costs can vary significantly from one driver to the next because they are calculated on a case-by-case basis according to several different considerations. Examples of things that can influence your cost include: 

  • The year, make, and model your vehicle(s)
  • Your age, gender, occupation, driving history, and credit score
  • Details about other drivers in your household
  • The estimated number of miles you drive each year
  • The accident and auto theft rates in the vicinity of your home
  • Whether you are bundling your coverage with another policy like home insurance or renters insurance

Each insurance company has a different method for calculating rates, so it pays to comparison shop. An independent agent in Raleigh can help you easily obtain and review customized car insurance quotes from a selection of highly rated insurers.

How Many Uninsured Drivers Are in North Carolina?

In North Carolina, driving without insurance is a classified as a Class 1 misdemeanor. If caught, you are likely to be fined and placed on probation. If you are a repeat offender, you can also face jail time. Despite this, nearly one in ten drivers in this state is operating an uninsured vehicle.

  • How many US drivers are uninsured? 12.6%.
  • How many North Carolina drivers are uninsured? 9.1%.

If you are in a collision that is caused by an uninsured driver, that person is legally responsible for covering the cost of your damage and any necessary medical treatment. Uninsured motorist insurance ensures that you will get the compensation you deserve quickly and easily. 

Uninsured motorist insurance is optional in many states, but in North Carolina, it is required. This insurance covers your damage and injuries if you are in a collision with an uninsured, underinsured, or hit-and-run driver. Your insurance company will then attempt to collect what is owed from the offending driver, and will absorb the costs if they are unsuccessful.

What is the Auto Theft Rate in Raleigh, NC?

The auto theft rate in North Carolina is lower than the national average; in Raleigh, the rate is even lower. This is not to say that the risk does not exist. Approximately 800 cars are reported stolen in this city in a typical year.

  • National auto theft rate per 1,000 vehicles: 2.94
  • North Carolina auto theft rate per 1,000 vehicles: 2.12
  • Raleigh auto theft rate per 1,000 vehicles: 1.64

You cannot be compensated for a stolen car unless your auto insurance policy includes comprehensive, or “other than collision,” insurance. This insurance is optional, but most lenders will require you to include it in your auto coverage until your vehicle is paid off. 

Comprehensive insurance can be beneficial, particularly if you have a car with a high resale value. It covers more than just auto theft. It can also reimburse you for loss and damage caused by other non-collision hazards such as falling objects, floods, fires, and vandalism.

Why Work with an Independent Insurance Agent?

As a vehicle owner in Raleigh, you can turn to a local independent insurance agent for help when you are searching for the best auto insurance to meet your coverage and budgetary needs. These agents are free to work with a variety of insurance providers to help you find the most reliable and affordable policy.

Find an agent in or near Raleigh to learn more. You can start comparing customized car insurance quotes in no time.

Sources © 2019, Consumer Agent Portal, LLC. All rights reserved.

http://www.naic.org/prod_serv/AUT-PB-14.pdf

http://www.city-data.com

© 2019, Consumer Agent Portal, LLC. All rights reserved.

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