How to Save on Car Insurance for College Graduates

How to Save on Car Insurance for College Graduates

Many college graduates face another costly part of life: the cost of car insurance. However, there are ways to get the best rates on this insurance and save money! So read this article to find out how to save on car insurance for college students.

What Is the Average Cost of Car Insurance for College People?

The average cost for car insurance for college people can vary depending on a few factors, such as your driving history, location, and credit score. However, according to The College Board’s 2018 report on student debt, the average total student loan debt was $33,000. Therefore, your rates could be higher if you have a car loan and are not using it for essential transportation needs (like going to school). To get an idea of what car insurance for college student’s rates might look like for someone who is a recent college graduate. The General has compiled an overview of rates for young adults between the ages of 21 and 24 in each state. For this study, The General used data from reliable sources like Car Insurance Comparison to identify the state with the lowest average premium rate ($854) and the state with the highest average premium rate ($1,552). For example, Massachusetts had the lowest average premium rate at $854, while Mississippi had the highest average premium rate at $1,552. 

Therefore, if you’re living in one of these states or planning on moving there soon, expect your car insurance rates to be significantly higher than they would be if you lived in a state with a lower average premium rate. Overall, the average car insurance rate for young adults in Massachusetts is $1,348. This rate will be higher than the national average ($1,335). The average cost of car insurance for young adults in Mississippi is $2,066, which is higher than the national average ($2,050). The following graph shows how car insurance rates vary by state. You can see that overall, drivers are paying more for their auto insurance premiums in states with the highest average premium rates. After comparing all 50 states, the General determined that California had the highest “one-year cost” at $7,248. Since California’s one-year cost factors in both size and risk of a claim, this figure likely represents a best rate.

How Do Discounts Work on Car Insurance for College Students?

One way to save on car insurance for college students is to get a discount from their state’s auto club. Many states offer discounted rates to members of their auto clubs, and some even offer insurance discounts specifically for college students. To find out if you are eligible for any discounts, contact Sara Routhier, Director of Outreach at Car Insurance Comparison auto club and ask about the benefits they offer members. You may also be able to find information about the club online. Another way to save on car insurance is to shop around for rates. Different companies may have different rates for drivers living in the same area, with a good driving record, and not driving in a high-risk category. If you are unsure how much car insurance costs, try using an online quote tool or contacting one of the major car insurance companies directly. 

College students are just starting out in the driver’s seat and are known for being safer drivers. As long as you keep your driving record clean and don’t accumulate any traffic tickets, you should be able to get low rates on car insurance. Besides keeping your driving record clean, ensure you have a good understanding of what kind of coverage you need. You may be surprised by how much coverage your car insurance policy offers for liability purposes. If you are involved in an accident, having liability coverage will help protect you financially from any legal judgments that might be levied against you.

Another way to save on car insurance for college students is to bundle your policies with those of friends or family members. This can give you discounts for being a part of a group and sharing responsibility for each other’s safety on the road. Plus, bundling can help ensure that everyone in your vehicle has adequate coverage in case of an accident.

Tips to Save Money on Car Insurance by Speeding Up Renewals

If you’re a college graduate, you must know how to save on car insurance for college students. One way to do this is to speed up your renewals. Here are some tips to help you get the most out of your auto insurance policy: 

  • Check your coverage: Ensure you have the necessary coverage for your vehicle and driver. All states require minimum liability insurance limits for drivers under 25. Many states also require certain types of coverage, like comprehensive and collision. 
  • Shop around: Compare rates from different providers before choosing a policy. Depending on your driving record, you may be eligible for discounts or special offers from your insurer. 
  • Get a discount on your policy: If you have a good driving record and meet certain other requirements, you may be able to receive a discount on your policy. Ask your insurer if any special promotions are available that fit your needs. 
  • Ensure all You Can: By ensuring all aspects of your vehicle – engine, drivetrain, body, and cargo you’re more likely to be covered in the event of a crash. 

Conclusion

One of the many things college students have to worry about is how to save money on car insurance. College graduates may be eligible for discounts on their auto insurance rates, depending on their state. Here are four states with the best car insurance rates for college graduates: College graduates in Maryland can qualify for a discount on their car insurance rates if they have at least one year of driving experience and have a good driving record. College graduates in Utah can qualify for a discount on their car insurance rates if they have at least one year of driving experience and have a good driving record. College graduates in New Hampshire can qualify for a discount on their car insurance rates if they have at least two years of driving experience and have a good driving record. Finally, college graduates in Rhode Island can qualify for a discount on their car insurance rates if they have at least three years of driving experience and have a good driving record.

John Norwood
John Norwood is best known as a technology journalist, currently at Ziddu where he focuses on tech startups, companies, and products.