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How much is car insurance in Wake Forest?
|Area||Average Monthly Car Insurance Premium|
As you can see in the chart above, car insurance rates in Wake Forest are slightly less expensive than the rest of North Carolina.
Similarly, car insurance rates in Wake Forest are more affordable than the national average. On average, it's about $31 less to insure your vehicle in Wake Forest than it is in the rest of the U.S.
Although these are the average rates for auto insurance in Wake Forest, it's important to remember that you could end up paying something different. The monthly rate that insurance companies end up charging you is determined by a variety of factors. Age, gender, vehicle make and model, driving record, and in some cases, your credit score, are all taken into consideration when calculating the final dollar amount you'll be asked to pay each month.
But don't worry, we've broken down the average rate for Wake Forest residents based on several different factors so that you can get a more accurate idea of the bill you'll see each month. And if you're not sure that you're paying the lowest option, simply enter your ZIP below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
The older you are, the more experience you're likely to have on the roads, right? That experience can turn into some real savings when it comes to car insurance bills. As you can see, 18-24-year-olds pay a lot more than drivers 65 and older.
For every ten years older you get, you can expect to see a drop in your monthly premium. Wake Forest drivers may see their rates rise again once they hit retirement.
Average Car Insurance Rates by Gender
Car insurance rates for female drivers are usually cheaper than those for male drivers. In Wake Forest, although men do pay a little bit less on their monthly auto coverage, the price is about the same for either group.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Tickets||Not Enough Data|
Rates can change drastically depending on your driving record. Drivers who avoid accidents and tickets will pay lower rates than those with infractions. In Wake Forest, having a single accident on your record will usually get you rates around $102 a month. Likewise, if you have one ticket, you'll be looking at an average rate of around $42.
Regardless of where you live, accidents, tickets, and other driving infractions can greatly increase your premium. So, if you're looking for cheap car insurance, drive carefully and keep a clean record.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$43|
|15 Years or Older||$59|
The most affordable vehicles to insure in Wake Forest are typically trucks and vans, which run about $36 per month.
SUV drivers will see rates of about $39 for car insurance coverage, while car owners usually pay around $54 a month.
In addition to vehicle type, you can also expect to see slightly different rates depending on how old your vehicle is. Generally, newer vehicles are going to cost the most to insure. Once your car is a few years old, however, you may see your bill start to shrink a bit. In Wake Forest, the most expensive vehicles to insure are vehicles fifteen years and older.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$52|
More often than not, married policyholders will pay slightly less to insure their vehicle. This usually boils down to owners having multiple vehicles on the same policy, something that will often get you a discount.
The difference in rates based on relationship status in Wake Forest is about $20 a month, with married couples paying less for coverage than single drivers.
Average Car Insurance Rates by Housing Situation
|Housing Status||Average Monthly Premium|
|Live with parents||$78|
One other element taken into consideration is your living situation. Those who own their own home in Wake Forest can expect to pay around $9 a month less than those who rent. But those who live at home with their parents can expect to pay significantly more.
Many companies, however, will offer you a discount to bundle your home or rental insurance with your auto insurance policy, which can help reduce your average premiums.
Car Insurance Companies in Wake Forest, NC
Recent trends in car insurance for Wake Forest drivers
Given that average rates are often changing, it's a smart move to know the direction your area is trending before picking an insurance policy.
In Wake Forest, car insurance rates increased from 2016-2018, before leveling out in 2019. Policy premiums finished down in 2021, at $44 per month
How does Wake Forest compare to neighboring areas?
Why are car insurance rates in Wake Forest different from other areas?
When considering how much to charge for an insurance policy, car insurance companies will evaluate many factors. The specifics of where you park your car will have an impact on your personal policy. This might include things like:
- Number of drivers in the area
- Rate of car accidents
- Amount of off-street parking
An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. Each area will have different rates. Guides like these are a wonderful place to get started.
How can I find the cheapest car insurance in Wake Forest?
While getting familiar with what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.
Fortunately, Compare.com will handle the heavy lifting for you. Just enter your ZIP Code below, respond to a few questions, and you'll be comparing the cheapest quotes from a number of the car insurance companies offering policies in Wake Forest.
Wake Forest Insurance FAQs
What factors affect car insurance quotes in Wake Forest?
Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your age and gender but also factors like your vehicle's year, make and model, as well as your driving record, credit score, marital status, and address.
Why is the cost of car insurance in Wake Forest different from other neighboring cities?
Your address and the city you live in have a significant impact on how much a car insurance company might charge for your policy. Companies take into consideration things like parking situations, local laws, and crime rates when calculating your quote -- all of which can change from city to city.
Which car insurance company will offer me the cheapest rate in Wake Forest?
Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible by using sites like Compare.com to compare multiple quotes at once.
Do I need to change my insurance if I move to Wake Forest?
Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.
Do I need to wait for my policy to expire to switch to a different car insurance company?
No. You can switch companies at any time, regardless of how long is left on your current policy. So, if you've recently moved to Wake Forest or it's been a while since you last compared car insurance rates, you may want to take 10 minutes and see if Compare.com can save you money.