Table of contents
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.
Likewise, when compared to the national average, the cost for auto insurance in Wake Forest is lower. You can expect to pay about $28 less for your policy in Wake Forest than in the rest of United States.
While these are the average car insurance rates for Wake Forest, you could end up paying something different. There are numerous factors taken into consideration by insurance companies when deciding the rate you'll pay for coverage. Things like gender, vehicle make and model, driving record, age and, in some areas, credit score can all affect the bill you'll see each month.
We've done the heavy lifting for you and broken down the average rate for Wake Forest so that you can get a more accurate idea of what your monthly bill might be. And if you're not sure that you're paying the lowest option, simply enter your ZIP Code below and find out!
Average Car Insurance Rates by Age
|Age Range||Average Premium|
|Under 18||Not Enough Data|
|45-54||Not Enough Data|
The older you are, the more experienced you are on the roads. When it comes to auto insurance premiums, that experience pays off. According to the table above, you can see that 18-24-year-olds pay significantly more than someone who is at retirement age.
Every ten years or so you can expect to see a decline in your monthly premium. As you get closer to retirement age, however, you may see your rates climb back up in Wake Forest.
Average Car Insurance Rates by Gender
On average, female drivers pay slightly less for car insurance than their male counterparts. In Wake Forest, however, men actually pay a little bit less than female drivers for auto insurance coverage.
Average Auto Insurance Rates by Driving Record
|Infractions||Average Monthly Premium|
|Multiple Tickets||Not Enough Data|
Your rates can vary wildly depending on your driving record. A clean driving record will obviously get you a lower rate than one with accidents or infractions. In Wake Forest, drivers with one accident on their record will experience rates around $102 a month. Likewise, drivers with one ticket on their record will be looking at an average rate of around $39.
Accidents, tickets, and other driving infractions can cost you some serious cash. In order to reduce your monthly bill and get the cheapest car insurance possible, keep your record clean and drive carefully.
Average Insurance Rates by Vehicle
|Vehicle Age||Average Monthly Premium|
|Less Than 1 Year||$43|
|15 Years or Older||$59|
In terms of affordable coverage, the cheapest vehicles to insure in Wake Forest are typically trucks and vans, at $36 per month.
Car owners, on the other hand, usually pay around $58 per month, while SUV drivers can expect to pay about $39 a month for auto insurance coverage.
Vehicle age has an impact on the cost of your policy as well. Generally, the most expensive vehicles to insure are going to be newer ones. However, once your car is about 5 years old, you may start to see your monthly premium decrease. The most expensive vehicles to insure in Wake Forest are vehicles fifteen years and older.
Average Car Insurance Rates by Relationship Status
|Relationship||Average Monthly Premium|
|Single (never married)||$55|
Generally speaking, married policyholders will pay slightly less for insurance coverage. This usually happens because companies will offer special discounts to policyholders with multiple vehicles that are on the same policy.
The difference in rates based on relationship status in Wake Forest is about $27 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|
Another factor taken into consideration is your living accommodations. If you rent your home or apartment, expect to pay around $10 a month more than those who own their own home in Wake Forest. Those who live with their parents, however, can expect to pay a good deal more than their counterparts who rent or own.
Bundling your home or rental insurance with your auto insurance can oftentimes reduce your car insurance costs, depending on your insurance company.
Car Insurance Companies in Wake Forest, NC
Recent trends in car insurance for Wake Forest drivers
Car insurance rates are frequently changing, so it's in your best interest to understand which way your area is trending before picking an insurance policy.
In Wake Forest, the rates for car insurance increased from 2016-2018, before steadying out in 2019. Car insurance rates finished down in 2021, at $42 per month
How does Wake Forest compare to neighboring areas?
Why are car insurance rates in Wake Forest different from other areas?
Car insurance companies look at numerous factors when they're figuring out how much to charge for a policy. Your insurance policy will depend largely on where you park your car and will be influenced by things such as:
- Crime levels
- Regional regulations
- General road safety (how many accidents each locality has)
- Access to off-street parking
- Total drivers
You'll be hard pressed to change any of these factors yourself, but they're worth considering when thinking about the purchase of a new policy or a move. With the knowledge that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.
How can I find the cheapest car insurance in Wake Forest?
Arming yourself with information about the average costs for drivers in your area will better prepare you for the real deal. The only way to know for sure what your rate will be is by asking for a quote from car insurance companies.
Luckily, Compare.com has you covered. Just type in your ZIP below, answer a few questions, and you'll be comparing the cheapest quotes from loads of the car insurance companies offering coverage in Wake Forest in no time.
Wake Forest Insurance FAQs
What factors affect car insurance quotes in Wake Forest?
The factors that car insurance companies take into account when calculating your monthly cost include things you can't control like your gender and age, but also factors like your vehicle's make and model, year, driving record, credit score, as well as your marital status and address.
Why is the cost of car insurance in Wake Forest different from other neighboring cities?
Things like crime rates, parking situations, and local laws, which are dependent on your address and area you live in, can significantly affect the cost of insurance relative to other cities.
Which car insurance company will offer me the cheapest rate in Wake Forest?
There isn't one company that can guarantee the cheapest rate to everybody, since the rates they charge for coverage are calculated based off of factors that can vary from person to person, such as vehicle make and model, driving record, and number of drivers on the policy. By using sites like Compare.com to compare multiple quotes simultaneously, you can rest assured that you're getting the best price available.
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. In fact, you can swap companies at any point, regardless of how much time is left on your current coverage. So, whether you're moving to Wake Forest or just curious about rates in your area, why not take 10 minutes to see if Compare.com can save you money?