Car insurance for college students – It is no doubt that inexperienced drivers, especially college students, tend to cause traffic accidents. So, to protect these students financially in case of any accidents while they are driving, several insurance companies have provided coverage for college students. And these coverages come with different types of discounts to not only help protect students financially but also help them save.
Shopping for cheap car insurance for college students demands you do some research because no two insurance companies offer the same rates. Also, it is worthwhile to know that the cheapest car insurance coverage you can get as a college student depends on your age and your driver’s profile.
Furthermore, after the age of 25, your insurance rate decreases because it is assumed that you now have the necessary experience and can manage the risk of causing accidents.
Best Car Insurance Company for College Students
Several insurance companies have made auto insurance affordable for students by offering student discounts and other perks. It can be a little difficult for college students to cover other expenses, which is why some of the best insurers offer discounts to reduce the auto insurance rate. Here are some of the best auto insurance companies:
GEICO
GEICO offers a wide range of coverage types and amounts, along with emergency roadside assistance, homeowners’ insurance, and mechanical breakdown coverage. This insurance company also provides a list of almost 20 discounts for qualified policyholders. The only discount available for college students is the 15% Good Student Discount.
College students can also benefit from the usual discounts, which include those for cars equipped with safety features and discounts for policyholders who have more than one of GEICO’s policies. This insurance company is rated A++ by AM Best for its financial stability and customer satisfaction.
State Farm
State Farm is the number one private passenger auto insurance company in the United States. Students can benefit from the State Farm Good Student Away at School discount, which offers more than 25% savings on yearly auto insurance rates for students under the age of 25.
Its auto insurance for college students is available across 48 states, and it offers several types of car insurance. Furthermore, it also provides rental car and travel expense reimbursement, emergency roadside assistance, and rideshare insurance.
College students can save up to 25% on their auto insurance rates. However, for the driver to be eligible for this discount, they must maintain a grade point average of 3.0 and be a full-time student. Students who live far away from the campus can also benefit from the student away-at-school discount offered by State Farm.
It provides savings to drivers who live more than 100 miles from home and keep their cars at home. To qualify for this discount, college students will have to drive their cars while they are home for the holidays.
Metromile
Metromile’s quoting system enables the drivers to input their current auto insurance premiums so that they can compare and see if switching insurance companies makes sense to them. The monthly premium will consist of a base cost.
If you drive fewer than 12,000 miles each year, you will save more on your auto insurance. In addition, Metromile doesn’t charge its policyholders for driving more than 250 miles each day.
Allstate
Allstate Mobile enables policyholders to have access to their plan information, connect to an agent, and manage their claims. Users can file a claim through their mobile app as well. Allstate also has an extensive network of agents that are available to answer your questions in person. However, this insurance company is among the most expensive insurers.
How to Compare Car Insurance for College Students
When shopping around for auto insurance, you need to consider certain factors to determine which coverage is best for you.
Coverage types: Although several insurance companies offer collision and comprehensive coverage, you still need to review the types of coverage available. This is important if you are searching for personalized coverage such as roadside assistance or rideshare insurance.
Cost: The cost of the policy premium is also an important factor to consider, especially if you have a tight budget.
States available: Some insurers only provide coverage in most states. Make sure that the insurer you are thinking of working with offers policies where you live.
Ratings: Check the company’s ratings before you get an insurance policy. This will give you an insight into whether they are the right company for you and whether they are financially stable.
Discount: Most insurance companies provide a general discount for bundling policies and a clean driving record. Some also offer discounts for college students.
FAQs
Do College Students Get Discounts on Car Insurance?
Yes, they do. Several insurance companies listed in this blog post offer discounts for college students to save more on their insurance rates. However, this discount varies by insurer.
One popular discount for college students is for being a good student, and that provides a rate reduction for college students who maintain a specific grade point. Some insurance companies also offer discounts to college students who are away from home and drive a family car.
Do College Students Need Car Insurance?
Anyone who has a car needs auto insurance. Several states demand that you get auto insurance before you hit the road. Even students who need to drive their family car while on vacation still need to have auto insurance.
Who Has the Best Car Insurance for College Students?
Geico has one of the best average insurance rates for college student drivers. With an average of $388 per month for the insurance rate. State Farm also has some impressive discounts for college students, such as discounts for good grades and driver training.