Average car insurance cost in Durham, NC

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The average car insurance cost in Durham, North Carolina is $1,741 per year, according to Insure.com data. This is equals to the average auto insurance cost in North Carolina and $154 less than the national average, as analyzed by Insure.com.

The rates can vary wildly depending on where they are filed. City demographics, including population density and average resident age, will affect how much money you spend on premiums which could make it cheaper or more expensive than other areas with different factors like accident rates, theft and vandalism rates, etc.

The article covers information on – the cheapest car insurance providers in Durham, the average car insurance rates by age, gender and how much is car insurance in Durham based on coverage limits. Whether you’re a new driver or have been driving for years, this article can help you find the best deal on cheap car insurance in Durham. Read on to learn more.

Cheap car insurance companies in Durham

Erie Insurance offers the cheapest car insurance in Durham, at an average of $1,068 per year with full coverage limits of 100/300/100.

The second cheapest company in Durham is State Farm, offering car insurance rates at $1,143 per year.

As mentioned earlier, car insurance rates vary from one company to another because the factors used to calculate rates vary by insurer. Therefore, comparing quotes from multiple insurers is recommended to find cheap car insurance rates in Durham before deciding on the policy that matches your requirements.

The table below lists the average annual and monthly costs for the various car insurance companies providing coverage in Durham, North Carolina:

Read about the best car insurance companies.

Average car insurance cost in Durham by coverage limits

The average car insurance rates in Durham by coverage type are as follows:

• State minimum coverage: $520 per year (limits of 25/50/25)
• Liability-only coverage: $570 per year (limits of 50/100/50)
• Full coverage: $1,741 per year (limits of 100/300/100)
• Non-owners coverage: $504 per year

In many states, drivers are legally required to maintain state minimum coverage. However, these requirements vary by state. However, the state minimum coverage does not protect vehicles listed on your policy in an at-fault accident.

It’s advisable to choose full coverage to avoid the risk of inadequate coverage and out-of-pocket expenses. You can also choose non-owners coverage if you often borrow or rent vehicles and don’t own one yourself.

Average car insurance rates by gender in Durham

In Durham, North Carolina, the average annual car insurance premium for female drivers is $1,741 per year.

While the average annual cost for male drivers is $1,741 per year, which is equals to what female drivers pay, according to a rate analysis by Insure.com.

According to the Insurance Information Institute, statistics demonstrate that women are generally regarded as safer drivers than men. They often pay less for auto insurance because of their lower rate of severe accidents than men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Durham

In Durham, car insurance rates are highest for teens, averaging $3,955 per year or $330 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.

Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.

As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $2,000 annually for their car insurance, which is $1,955 less than what teens pay for their coverage.

In Durham, adult drivers pay an average of $1,724 per year for car insurance, while senior drivers pay $1,705 annually.

According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.

Read more on auto insurance for seniors.

The table below lists the average annual rates for drivers of different age groups:

Car insurance rate trends in Durham

If we look at the car insurance rates trends in Durham, North Carolina, it was on an upward swing from 2022 to 2023. From 2022 to 2023, the rates increase overall by 31%, or $409.

The table below shows the trend for last four years:

Conclusion

Car insurance rates in Durham are same as the average rates in North Carolina. Drivers in Durham can secure affordable car insurance by shopping around and utilizing available discounts. Additionally, many insurance companies offer bundling discounts for customers who purchase multiple policies from the same provider.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.