4.8out of 3,000+ reviews

Cheapest Car Insurance for Graduate Students (May 2022)

  • Personalized quotes in 5 minutes or less
  • No signup required
1 Insurance
Amy Beardsley

By: Amy Beardsley

Edited by Jackie Cohen | Reviewed by licensed insurance agent, Amber Benka

Last Updated May 10, 2022

SafetyOutline

Why you can trust Insurify

Insurify partners with the best car insurance companies in the U.S. to provide a tailored car insurance comparison experience. To date, we've delivered over 26 million quotes from both national and regional companies to over 4 million customers. Check out reviews from over 3,000 satisfied customers, how we make money, how we get our data, our editorial standards, and a list of our partners.

Quick Facts

  • Drivers under the age of 25 pay more for car insurance than any other age group.
  • Mile Auto is the cheapest insurer we found for graduate students, with average rates of $132 per month.
  • Many insurance providers offer discounts for graduate students, such as a good student discount or a safe driver discount.

As a grad student, you’re investing in your education. But having car insurance knowledge can pay dividends today. You might have coffee pumping through your veins, a mountain of books to study, and yet another paper due sooner than you’d like. The last thing you want to add to your plate is finding cheap car insurance – it’s just one more thing to research.

But this quick read could keep your cold, hard cash in your pocket. Adulting is fun. To help juggle rent, groceries, and (now) car insurance, start by comparing car insurance quotes at Insurify.

Cheapest Auto Insurance Quotes for Graduate Students

While your friends are bragging on social media about new jobs, cars, and houses, you could sum up your budget in one word: broke. And even if you have a few bucks to spare, you’d likely prefer to spend them on a meal that didn’t come pre-packaged or deep-fried. Put some of these cheapest car insurance companies on your list to see how much you could save:

Insurance CompanyCheapest Monthly Quote
Metromile$81
Farmers$87
Amigo USA$87
National General$122
Clearcover$136
Elephant$137
Travelers$139
Kemper$144
Nationwide$156
Disclaimer: actual quotes may vary based on the policyholder's unique driver profile.

Average Car Insurance Rates by Age and Gender

Many things can affect the insurance rates a driver pays. For instance, gender and age are two factors that have a significant impact on cost. Even though graduate students pay less for monthly car insurance premiums thank college students, analysis of car insurance rates by age shows all young drivers pay more on average, regardless of schooling.

Except for states that prohibit the practice (California, Massachusetts, and North Carolina, to name a few), male graduate students will pay more on average than their female classmates of the same age for car insurance premiums. Insurance companies generally see male drivers as more likely to file claims.

See More: Cheap Car Insurance

Compare Car Insurance Quotes Instantly

  • Personalized quotes in 5 minutes or less
  • No signup required

How much does car insurance cost for graduate students?

How much is car insurance for graduate students?

Because graduate students are older, they’ll usually see lower costs for car insurance than undergraduate students. Graduate students can still save with student discounts offered by some insurance companies

The price of an average auto policy for college students is determined by a number of factors, but young female drivers pay around $180 per month, and young male drivers pay around $190 per month. This cost differs if they’re paying for their own policy or being added to their parent’s car insurance policy. In most cases, it’s cheaper to be added to a pre-existing policy.

Showing proof of completing driver training means that younger drivers took the extra step to make sure they know the rules of the road, the consequences of breaking rules, and what they can do to keep themselves and other motorists safe. Graduate students can also score savings through discounts they may be eligible for.

Allstate

Allstate offers a smart student car insurance discount for grad students who are unmarried, are under age 25, and maintain good grades (a GPA of 2.7 or above). If you get school funds disbursed, you may look into the FullPay® discount. It could cut up to 10 percent off your premiums when you pay in full upfront.

A few of the discounts that Allstate offers to graduate student driver include:

  • Smart Student discount
  • Drivewise safe driver discount
  • Milewise pay-per-mile
  • TeenSMART driver education
  • Distant driver discount

Farmers

Farmers offers a paid-in-full discount when you pay the entire premium upfront. Plus, you’ll get the good student discount if you’re a full-time student (in high school or college) and under age 25 with a 3.0 or better GPA. Farmers ranks 3 out of 5 for overall customer satisfaction from J.D. Power, with “about average” ratings for its policy offerings and price.

A few of the discounts that Farmers Insurance offers to grad student drivers include:

  • Multi-car discount
  • Safe driver discount
  • Good student discount
  • Paid-in-full discount
  • Vehicle safety feature discount
  • Anti-theft device discount

GEICO

Always a go-to for minimum coverage, GEICO offers teen drivers low rates that help them meet the state minimum liability insurance requirements. If you need to insure a more expensive car with collision coverage, you might find a better rate on a full-coverage car insurance policy elsewhere, but all new drivers should get a quote from GEICO.

A few of the discounts that GEICO offers to an 18-year-old driver include:

  • Good student discount
  • Driver training discount
  • Antilock brakes discount
  • Anti-theft systems discount
  • Good driver discount

Progressive

Progressive’s good student discount is only for students under age 23 with a 3.0 GPA or better. But it’s still a company worth mentioning because of its Snapshot device, which checks driving behavior. Since grad students usually drive much less than the average motorist, you might save big on what could already be competitive rates.

A few of the discounts that Progressive offers to an 18-year-old driver include:

  • Snapshot Safe Driver Discount
  • Teen driver discount
  • Multi-car discount
  • Accident forgiveness

State Farm

State Farm’s good student discount saves you up to 25 percent if you’re under age 25 and enrolled full-time with a 3.0 GPA or better. Those savings go well with the good driving discount, which applies if you haven’t had an at-fault accident or moving violation in the last three years. Plus, you can save up to 17 percent more when you get a renters insurance policy.

A few of the discounts that State Farm offers to an 18-year-old driver include:

See More: Car Insurance Quotes

Tips for Cheaper Car Insurance

As you advance toward higher degrees, you’ll usually pay less for insurance for two reasons. First, you’re getting older. Insurers see young drivers as risky. Many insurers give education discounts at each level as you go from a bachelor’s to a master’s to a doctorate. Aside from discounts, here are some other tips to lower your monthly car insurance costs.

Shop Around for Car Insurance

Regardless of age, shopping around for car insurance can often be one of the most effective ways to save money. Each auto insurance company offers different discounts and weighs certain factors differently, making it more important to review multiple quotes before selecting an insurance provider. Free online quote-comparison tools like Insurify can make it easy.

Remain on Your Parents’ Policy

Stay on your parents’ policy while their home is still your permanent address. There’s no need to get a separate policy unless your parent has so many moving violations, accidents, or claims that your part of a joint policy would be more expensive.

Drive an Older, Safer Car

Newer cars cost more to insure because they’ll cost more to replace. You can help keep your costs low by choosing an older car that has certain safety features, like anti-lock brakes and airbags.

Select a High-Deductible Plan

Figure out the highest bodily injury liability coverage and property damage coverage you can afford. As a recent college graduate and now advancing through grad school, your savings are probably less than you’d like. State minimum coverage might let you drive legally, but you could end up financially devastated if you’re at fault and must pay someone else’s medical bills out of pocket.

Keep a Clean Driving Record

Nothing lowers car insurance rates better than being a good driver. Keep clear of at-fault accidents and speeding tickets to lower your risk in the eyes of your insurer. Drivers with a clean record benefit from the lowest rates.

Maintain a Good Credit Score

Statistically, people with lower credit scores tend to be riskier drivers. Keep your credit score high to prove that you can be trusted with lower car insurance rates.

Discounts! Discounts! Discounts!

Cash in on all the car insurance discounts you might be eligible for. Some might include:

See More: Best and Worst Sites to Compare Car Insurance

The Best Way Grad Students Can Save on Car Insurance

There’s one precious commodity that might be even more important than money: sleep. After saving some serious cash on car insurance, you have earned the right to get a few winks. We let you compare the best grad student car insurance rates, coverage options, and companies personalized for your price point.

Get free, cheap car insurance quotes today from America’s best-rated auto insurance comparison site, Insurify.

Frequently Asked Questions

  • College students typically pay higher premiums compared to older drivers. Car insurance companies base their rates on factors such as age, driving history, and other variables. Younger drivers are generally considered riskier because they have less driving experience and are statistically more likely to be involved in an accident.

  • Grad students are always on the hunt for discounts. Luckily, many insurance companies offer ways to save money on premiums. Providers like Allstate, GEICO, Progressive, and others have good student and good driver discounts that can keep money in your pocket. Side-by-side quote comparison on Insurify allows drivers to clearly see the lowest rate available.

  • Most insurance companies require you to enroll full-time to qualify for their student discounts. You may also have to meet other requirements, such as maintaining a 3.0 GPA, being under 25, or being unmarried.

Compare Car Insurance Quotes Instantly

  • Personalized quotes in 5 minutes or less
  • No signup required

Methodology

The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews. 

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.

Amy Beardsley
Amy Beardsley
Linkedin

Content Writer at Insurify

Amy is a content marketing writer who specializes in personal finance and technology. With a background in the legal field, she has a talent for transforming complex topics into content that’s easy to understand. When she’s not writing, she enjoys reading and playing board games with her family. You can learn more at amybeardsley.com.

Learn More