Wouldn’t this article be short if we could just tell you the exact company that has the best auto insurance prices for 17 year olds? It’s not quite that easy, unfortunately, as there are a ton of unknowns like what liability limits you need, whether you are a man or a woman, the crime level of your neighborhood, and the number of miles you drive in a year. If you keep reading, we will teach you about some of these factors and hopefully give you enough understanding to have a good start in finding the cheapest car insurance.
Establishing which companies quote the cheapest auto insurance rates for 17 year olds calls for a tad more effort than just comparing a company or two. Every insurance company has a different process for determining prices, so we’ll take a look at the most affordable auto insurance companies in North Carolina.
It’s a good idea to know that Durham auto insurance rates are influenced by many factors that will increase or decrease the cost of having a policy. Improving your credit score, buying a different home, or getting caught speeding may prompt premium changes resulting in some companies being cheaper than competitors.
Find the Cheapest Car Insurance for Teens
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $632 |
| 2 | Utica National | $662 |
| 3 | NC Farm Bureau | $716 |
| 4 | Liberty Mutual | $728 |
| 5 | GEICO | $728 |
| 6 | Titan | $729 |
| 7 | Penn National | $739 |
| 8 | State Farm | $779 |
| 9 | Auto-Owners | $870 |
| 10 | Travelers | $909 |
| 11 | National General | $917 |
| 12 | Allied | $919 |
| 13 | Erie | $922 |
| 14 | Peerless | $962 |
| 15 | MetLife | $1,007 |
| 16 | Nationwide | $1,031 |
| 17 | Encompass | $1,031 |
| 18 | Unitrin | $1,042 |
| 19 | Safeco | $1,044 |
| 20 | Allstate | $1,086 |
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Progressive normally has some of the best car insurance rates in Durham at around $632 a year. This is $240 less than the average premium paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, Liberty Mutual, and GEICO would also make the list of some of the most economical Durham, NC car insurance companies.
As shown in the rates above, if you have coverage with Liberty Mutual and switched to Utica National, you could see a yearly price reduction of about $66. Policyholders with GEICO might save as much as $66 a year, and Titan policyholders might lower prices by $67 a year.
To get a fast rate comparison, click here to start a quote or click several companies below for low rates.
It’s important to note that these policy rates are averaged across all ages of drivers and types of vehicles and are not factoring in a vehicle location for 17 year olds. So the insurer that can offer you the lowest price may not even be in the top 20 companies shown above. That underscores the importance of why you need to compare as many prices as possible using your own driver information and specific vehicle type.
The type of vehicle requiring insurance is probably the biggest factor when comparison shopping for the best cheap insurance for 17 year olds. Vehicles with high performance engines, a lack of safety features, or a high likelihood of having liability claims will cost much more to insure than safer, lower-performance models. The next table showcases car insurance prices for a handful of the most economical automobiles to insure in North Carolina.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $4,238 |
| Honda CR-V LX 2WD | $4,244 |
| Toyota Prius | $4,606 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $4,754 |
| Dodge Grand Caravan CV | $4,762 |
| Ford Explorer XLT 4WD | $4,754 |
| Volkswagen Jetta SE 2.5 Station Wagon | $4,883 |
| Ford Focus SE 4-Dr Sedan | $4,987 |
| Ford Edge SEL 2WD | $4,996 |
| Honda Odyssey EX W/Rear Entertainment | $4,987 |
| Chevrolet Impala LT | $5,031 |
| Toyota RAV4 Sport 4WD | $5,039 |
| Chevrolet Malibu Hybrid | $5,031 |
| Toyota Tacoma Double Cab 4WD | $5,037 |
| Ford F-150 Lariat Super Cab 2WD | $5,077 |
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Table data assumes single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Rates do not factor in garaging location in Durham, NC which can increase or decrease price quotes significantly.
Looking at the numbers, you can presume that models like the Ford Escape, Honda CR-V, Toyota Prius, and Jeep Wrangler will definitely be the cheapest vehicles to insure for teen drivers. The price of auto insurance will trend higher just because there is more inherent risk for 17 year olds, but overall those specific models will probably have the cheapest rates available.
For teen drivers, one of the big criteria that are used to help calculate auto insurance rates is your address in Durham. Larger areas are more likely to have higher rates, whereas areas with lower crime rates and fewer weather claims get the luxury of paying less.
The table below ranks the most expensive cities in North Carolina for 17 year olds to purchase a policy in. Durham is listed at #4 costing $789 for the average policy, which is about $66 each month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Fayetteville | $932 |
| 2 | Jacksonville | $900 |
| 3 | Charlotte | $808 |
| 4 | Durham | $789 |
| 5 | Gastonia | $787 |
| 6 | Wilmington | $758 |
| 7 | Greensboro | $756 |
| 8 | High Point | $753 |
| 9 | Greenville | $752 |
| 10 | Apex | $747 |
| 11 | Wilson | $746 |
| 12 | Cary | $742 |
| 13 | Huntersville | $742 |
| 14 | Hickory | $740 |
| 15 | Raleigh | $737 |
| 16 | Goldsboro | $735 |
| 17 | Indian Trail | $731 |
| 18 | Rocky Mount | $726 |
| 19 | Winston Salem | $709 |
| 20 | Chapel Hill | $703 |
| 21 | Concord | $697 |
| 22 | Salisbury | $691 |
| 23 | Kannapolis | $676 |
| 24 | Burlington | $671 |
| 25 | Asheville | $661 |
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Annual rates are approximated as the vehicle garaging location can change premium rates substantially.
Discounts on Durham insurance rates
Insurance companies that offer quotes for 17 year olds may also provide special discounts that can lower rates by 35% or more if you are eligible. The best auto insurance companies and some of the discounts can be read below.
- Farmers Insurance offers discounts including bundle discounts, distant student, youthful driver, switch companies, multi-car, and mature driver.
- Esurance may offer discounts for multi-policy, multi-car, Pac-12 alumni, emergency road assistance, DriveSense, and safety device.
- State Farm policyholders can earn discounts including good student, multiple autos, safe vehicle, driver’s education, good driver, and accident-free.
- GEICO includes discounts for emergency military deployment, anti-lock brakes, five-year accident-free, federal employee, daytime running lights, and driver training.
- Allstate offers premium reductions for auto/life discount, good student, multi-policy, utility vehicle, and FullPay discount.
The example below visualizes the comparison of insurance rates with and without some available policy discounts. The premiums assume a male driver, a clean driving record, no at-fault accidents, North Carolina state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with good student, vehicle safety, anti-theft, paperless filing, continuous coverage, and passive restraint discounts applied. When discounts are applied, theaverage yearly reduction on auto insurance for 17 year olds is 28% or $505.
Difference between full coverage and liability only rates
Reducing premiums for auto insurance should be important to most vehicle owners, and one good way to find cheap insurance for 17 year olds is to buy liability only. The chart below compares car insurance rates with full physical damage coverage and with liability coverage only. The price estimates are based on no violations or accidents, $100 deductibles, single status, and no discounts are factored in.
As an overall average, physical damage coverage on your policy costs an additional $1,596 per year more than just insuring for liability. That proposes the question if paying for full coverage is worth it. There is no definitive guideline of when to exclude physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let’s assume your vehicle’s claim settlement value is $9,500 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $8,500 after paying your deductible. If premiums are more than $850 annually for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.
There are some circumstances where dropping full coverage is not in your best interest. If you still have a lienholder on your title, you have to keep full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not buy liability only.
Your cheap policy may actually be overpriced
Durham auto insurance rates are based on many factors that control the price you have to pay. Turning one year older, adding a teenager to your policy, or getting a DUI can trigger changes in premium resulting in some rates now being more affordable than the competition.
In addition, auto insurance companies modify rates without warning in order to remain profitable. An extended period of higher than normal claims may result in rate hikes, while profitable underwriting can produce more affordable Durham car insurance rates.
To illustrate this point, the data below compares the cheapest car insurance in Durham, NC for a 30-year-old male driver with no accidents, a clean driving record, and a good credit history. When quoting prices based on his current rating profile, Utica National may offer the cheapest car insurance rates in Durham at $742 annually. This is $130 less than the average price paid by North Carolina drivers of $872. Progressive, Liberty Mutual, Penn National, and GEICO are the remaining best Durham, NC auto insurance companies.
The next chart shows rates after we give the driver from the above example a couple of claims, a little lower credit rating, and a stop sign violation. Since every car insurance company has a unique formula for determining rates in each state, analyzing rate quotes may now result in a substantially altered list of affordable companies as shown below.
Titan now has the best auto insurance rate in Durham, NC with State Farm, Auto-Owners, National General, and Progressive now rounding out the top five. This demonstrates why it is important to do a thorough rate comparison to get the cheapest insurance rates for 17 year olds. Insurance prices are impacted by many different factors and can decrease or increase without notice, so the cheapest rate the last time you shopped your coverage around may now be an over-priced policy.
The insurance agencies below can most likely help you make a decision which coverage fits your budget, since lots of people like to have a professional recommendation when trying to find the best insurance rates for teen drivers. It can be difficult to find the cheapest auto insurance company, so getting professional guidance from a licensed agent can bring satisfaction knowing your policy gives you adequate coverage if you have an accident or claim.
To locate a Durham auto insurance agent using an interactive map, click the button below the list.
- Insurance Pros: Paradis James
3200 Croasdaile Dr # 603 – Durham, NC 27705 – (919) 294-6613 - George Stevens Insurance Inc
1320 Hill St – Durham, NC 27707 – (919) 403-3611 - Joshua E. Matthews Insurance Agency, Inc.
2144 Page Rd Suite 106 – Durham, NC 27703 – (919) 598-6800 - Andy Jones – State Farm Insurance Agent
4519 N Roxboro St – Durham, NC 27704 – (919) 477-0054
View more Durham, NC insurance agencies
How to find budget-friendly auto insurance for 17 year olds
The list below details many penny-pinching solutions that can help North Carolina drivers quote lower-cost coverage.
- Do not waste money insuring older vehicles for full coverage
- Increase your credit score
- Increase the comprehensive and collision deductibles on your policy
- Avoid accidents and claims
- Buy vehicles with good safety ratings
- You will pay more if you get tickets or have at-fault accidents
- Shop around for lower rates once a year
The last suggestion is particularly vital, as we discussed in the prior information. Insurance rates adjust often, so don’t be hesitant to buy a policy from a new company if a cheaper price is available. Brand loyalty is great, but is isn’t recommended if your bullheadedness ends up costing you a considerable chunk of change every month. It only take a few minutes to compare prices to find cheaper insurance for 17 year olds in Durham.