College students shouldn’t miss out on great auto insurance coverage.
If there’s one thing that students are excited about when heading off to college, it’s the freedom that comes with it – especially if your parents decide to trust you behind the wheel. But with great power comes great responsibility, and it’s important that you have great insurance coverage, too.
We’ve done our research on the best car insurance for students, taking into account student discounts, company reputation, customer reviews, and more. Keep reading to find the best insurance provider for you, and if you’re a high school student looking for coverage, check out our review of the best car insurance for teens.
Whenever you shop for car insurance, we recommend getting quotes from multiple providers so you can compare coverage and rates. In addition to the insurance company you choose, factors such as your age, vehicle make and model, and driving history can affect your premium, so what’s best for your neighbor might not be best for you.
Use our tool below to start comparing personalized car insurance quotes:
The Best Car Insurance For Students
Auto insurance can be expensive for college students, especially those that are paying their own way through school. But there are plenty of great insurance providers out there that have student discounts and other ways to save on car insurance.
Here are the companies you should consider when changing insurance providers or purchasing insurance for the first time as a college student:
Allstate auto insurance’s Smart Student Discount is offered to unmarried drivers under the age of 25. To qualify for this discount, one of the following must apply:
- Full-time student with good grades
- Completion of teen SMART® driver education program
- Attending school at least 100 miles away from your garaged car
Farmers Auto Insurance makes its Good Student Discount is available to drivers between 16 and 24 years of age who are full-time students in high school or college. To qualify, you need to provide the following documents:
- Proof that you are a full-time student
- Academic records for the previous semester or quarter that show you ranked in the upper 20 percent of your class, had a GPA of at least 3 or a B average, or were included on the Honor Roll
Geico auto insurance has a number of discounts that can make car insurance for students affordable, including:
- Good Student Discount for students maintaining at least a B average
- Good Driver Discount for safe drivers who haven’t been in an accident within the last five years
- Fraternity and Sorority Membership Discounts for members of specific groups
- Alumni Association Discounts
Liberty Mutual auto insurance has the following discounts available to students:
- Away at School Discount for those who go to school more than 100 miles away and onlydrive occasionally
- Alumni and Professional Affiliations Discounts up to 10 percent
- Multi-Car Discount
- Vehicle Safety Features Discount for cars equipped with safety features
Progressive car insurance is another provider that has great car insurance for students. The following discounts could reduce your premium:
- Good Student Discount for those that maintain a B average or higher
- Distance College Student Discount for students up to 22 years of age who go to school more than 100 miles from home
- Multi-Car Discount
Of our top providers of car insurance for students, State Farm auto insurance may be the one with the most available discounts. Those that might apply to college students include:
- Good Student Discount, which offers up to 25 percent savings for students under 25 years of age
- Driver Training Discount for drivers under 21 who complete a driver education course
- Student Away at School Discount for students who only use their car during vacations and holidays
In addition to discounts, State Farm has the Steer Clear and Drive Safe & Save programs to teach safe driving and lower the cost of car insurance for students.
Travelers auto insurance has the following discounts for college students:
- Good Student Discount for students that maintain a B average or are in the upper 20 percent of their class
- Students Away at School, which provides a 7 percent discount for students at least 100 miles away that won’t be driving family cars for an extended period
- Driver Training, which adds an 8 percent discount for those that successfully complete a driver education course (age restrictions apply)
Although only available to military service members and their families, USAA car insurance has some great discounts for car insurance for students:
- Good Student Discount
- Multi-Vehicle Discount
- Driver Training for drivers under 21 that complete an approved driver training course
- Safe Driving for those that maintain a good driving record for more than five years
Discounts may vary by state.
What To Know About Student Car Insurance
There are many factors to consider when looking for the best car insurance for students. Along with the amount of coverage, one of the most important things to college students is cost. Let’s take a closer look at some of the costs associated with auto insurance.
What’s The Average Cost Of Car Insurance For College Students?
According to the Insurance Information Institute, young drivers can add anywhere from 50 to 100 percent to the cost of a family’s car insurance coverage. Considering that the average cost of car insurance was about $936 in 2016 – and has only risen since then – you could be paying $1,404 to $1,872 or more for insurance as a young driver.
Why Is Auto Insurance For Students More Expensive?
There are several factors that determine the cost of car insurance for students. For instance, high school students drive fewer miles than adults. However, their lack of experience can lead to accidents and negligence. Similarly, college students tend to speed or have unsafe habits such as not wearing a seatbelt or texting while driving – and in the worst cases, driving under the influence. Young men often receive higher insurance quotes than young women because studies by the NPR show more young men are involved in accidents.
Due to these behaviors, finding the cheapest car insurance for students can be difficult. After all, insurers will recommend more coverage than what is offered to adults. Other factors that affect your premium include your zip code, driving history, and the type of car you have.
When Do Auto Insurance Rates Go Down?
You may be glad to know that rates drop once you have had more experience behind the wheel. After the age of 20, you should see your car insurance rates start to decline, and by the time you reach 25, your premium should be much more affordable.
How Can I Get Affordable Car Insurance For Students?
While sometimes tricky, you can get lower car insurance rates by becoming eligible for discounts. Most carriers will reward you for being a good student or a safe driver. If you decide to be on your parent’s plan, some will even reward you for not driving while you’re away at school.
Our Top Recommendations
As discussed above, you can find discounts on car insurance for students with many reputable providers. To compare the prices of those companies, use this tool:
So which one is best? When we researched the best auto insurance companies in the country, a few rose to the top. Of those, we think State Farm and Progressive are two of the best choices for car insurance for students.
Constantly growing since 1922, State Farm auto insurance today provides coverage to 17 percent of the market, according to the National Association of Insurance Commissioners. The company has an A+ rating from the Better Business Bureau (BBB) and a financial strength rating of A++ from AM Best, which is the highest rating possible. Along with standard coverages like collision and liability auto insurance, you can also opt for rideshare coverage, roadside assistance, travel expense coverage, and more.
State Farm stands out thanks to its quick online quote system, vast network of agents nationwide, and prompt claims payment. As a college student, make sure you qualify for some of the discounts outlined above to get the best rate possible.
Established in 1937, Progressive car insurance is now a household name that provides coverage to 11 percent of the market. It has an A+ financial strength rating from AM Best and wrote over 27 billion in premiums in 2018. In addition to standard coverages, Progressive customers have access to custom parts and equipment coverage, rideshare coverage, roadside assistance, rental car reimbursement, and loan/lease payoff.
You can easily get a quote online and activate your policy. The company also rewards you for your loyalty through perks like accident forgiveness. With many discounts to offer, Progressive is a good option for car insurance for students.
Final Thoughts On Car Insurance For Students
Always make an informed decision before signing the dotted line on an insurance policy. Get a variety of quotes for car insurance for students, and compare them based on benefits, discount potential, and value for your money. Additionally, if you establish a good driving history, you can expect lower insurance premiums in the future.