Graduating from college is an achievement to be proud of, but just because late-night study sessions and neverending classes are over doesn’t mean you get to kick back and relax.
Instead, many say that adult life really now begins, and that includes handling your auto insurance needs. Whether you’re on a parent’s insurance policy or you have one of your own, graduating college is an ideal transitional time to reevaluate your coverage needs.
Before you spend endless hours researching insurance coverage options as if it was a term paper, consider heading to Insurify instead. You’ll be able to compare quotes from multiple companies at once in a matter of minutes and select the best option that meets your budget.
If you’re not sure what to look for when it comes to auto insurance rates, keep reading—we’ll explore some of the best insurance plans available for new college graduates and discuss some important factors to consider.
Cheapest Car Insurance Quotes for College Grads
When you’re fresh out of college, you’re used to looking for the best deals on big purchases, so it makes sense that you might be on the hunt for the cheapest car insurance options on the market. Keep in mind that each company will take a number of things into consideration when determining insurance premiums, including your driving record, the age of your car, and where you live.
It’s important to consider what policy features are most important to you, too. While state requirements vary when it comes to your car insurance policy, you’ll likely want to have a decent level of bodily injury and property damage liability coverages in the event of an accident. Make sure that you don’t automatically select the lowest level of coverage or the highest deductible simply to lower your premiums, as an accident could mean you’re responsible for paying a large sum of money out of pocket.
Depending on where you live, you may find that some auto insurance companies are cheaper than others. For those with family in the military, USAA is a great option for robust yet affordable coverage. Nationwide and GEICO tend to also top the list of affordable insurance options to consider.
Here are the dirt-cheapest car insurance quotes we could find for recent grads. Yep, it’s possible to be paying this little:
Best Car Insurance Companies for College Grads
When you’re shopping for car insurance, how do you know which company will provide the best mix of lower rates, quality coverage, and great customer service? Oftentimes, the insurance providers who pay attention to special policy features are the best car insurance companies for new graduates.
It’s a bit of a controversial idea to offer lower rates to those who had good grades in college, but some insurance companies will actually provide incentive programs to those with an advanced degree. Eligibility will vary, but some policy discounts require you to have held at least a B average during your undergraduate studies, while others are more lenient about a “good grades” discount.
Often, the companies that integrate telematics into policy features are also some of the best for college grads. By using a small device inside your vehicle that tracks your driving habits, your safe behavior on the road could equate to big savings. Since car insurance discounts can sometimes be hard to come by for young drivers, partnering with a company that offers a telematics option is a great way to go.
Since you’re already thinking about auto insurance, it might be an ideal time to consider your other insurance needs and see if you can find an insurance provider that offers bundling discounts. College students often live with roommates to save money, and we’d bet that you’re likely not moving out the day that you finish school. Consider your renters insurance needs and see if you’re eligible for extra savings.
Discounts for College Grads
Aside from purchasing insurance coverage from a company that focuses on the above features, you’ll also want to explore the range of discounts available before deciding whether these are the best rates you can find. Many times, the initial quote you receive from an insurance provider doesn’t take into account specific lifestyle factors that could help you save.
Popular companies like Liberty Mutual, Progressive, and State Farm all provide significant savings on your policy rates while you’re in school; however, there are some stipulations after you graduate. It’s best to check with an insurance agent to see whether you qualify for a good student discount, as you might need to be enrolled in classes to be eligible. Other companies will offer this discount to motorists under age 25, regardless of education level.
Money can be tight after college graduation, especially if you now have to start paying off your student loans. However, many car insurance providers will offer lower rates to those who drive newer vehicles. Not only are these cars equipped with more robust safety features, but they tend to be more reliable as well, often making your rates pretty reasonable.
Remember our discussion about living with roommates? If you live with people who you trust, you may want to consider adding them to your policy and enrolling in a multi-driver discount. Keep in mind that their driving history will affect your rate, so it’s best to speak with an insurance agent to see whether this will actually save you money.
Staying on top of your student loan payments and credit cards can also help you save, as your auto insurance policy rate could be reduced thanks to a good credit discount. Each insurance provider will offer a different array of savings options, so make sure to carefully consider which one best meets your needs.
|Discount Type||Discount %|
|Good Credit Discount||84%|
|Good Driver Discount||40%|
|Multiple Policy Discount||25%|
|Professional Organization Discount||15%|
Insurance Saving Tips and Tricks for College Grads
Life as a new college grad is busy, and if you’re wondering what the number one easiest thing to do to save money on your car insurance is, we have the answer. It’s not cutting back on your coverage, and it might not even mean having to move or buy a new car. Ultimately, the easiest thing to do is to be aware of your current coverage and the factors that affect your rate.
For example, let’s say that your commute to your new job is significantly longer than your college commute. You’ll want to communicate to your insurance provider that your driving habits have changed—your insurance agent might suggest different types of coverage to meet your new needs. Conversely, if you find that you’re not driving nearly as much, you can avoid paying for options that are unnecessary.
If your place of employment partners with a specific industry association, you’ll want to explore whether there are discounts available with certain insurance providers. Teachers, those in public service, and others may be able to take advantage of a significant level of savings. Is your new job offering you health insurance? If so, perhaps you can lower some of your coverage levels as you’ll now have more protection in the event of an accident.
Consider how your living situation will affect your premium as well, as individuals who live at home can stay on their parents’ policy and enjoy a cheaper rate. However, if you move shortly after graduation, your pricing will be based on your new ZIP code. At the end of the day, while it’s not always a super quick process, evaluating your new lifestyle and how it relates to your insurance needs is the best way to save money.
FAQ: College Grad Car Insurance
Where can I compare car insurance quotes online?
Don’t spend more time than you need trying to locate the best price on car insurance. Instead, visit Insurify and compare quotes from multiple companies in a matter of minutes!
How can I get cheap car insurance as a college grad?
You’ll want to consider a number of factors on your hunt for cheap car insurance including where you live, if you’re current on your student loan payments, and the level of coverage you’d like for your vehicle.
Who gives the best car insurance rates for recent college graduates?
Depending on where you live in the country, you might find that different companies will offer the best rates for college graduates. It’s recommended that you look for insurance providers that feature a range of discounts and are up to date on telematics and insurance trends.
Conclusion: The best and cheapest way to save on car insurance
Graduating from college is a huge accomplishment, and while you likely have your sights set on a number of major life changes, don’t forget about your car insurance! You’re in a unique position, as many insurance providers offer great discounts across a variety of insurance products for those who are within a certain age range.
Take some time to enjoy your freedom from studying and find the job of your dreams, but make sure you visit Insurify, too. You’ll be able to compare quotes from a range of car insurance providers with just a few simple clicks and be saving money before you know it!