The best car insurance for a college student is something every student who owns a car should know. This is because, having a car in college is a luxury that comes with some inconveniences.
However, selecting car insurance for college students is difficult looking at varied discounts, rates, and features.
To make simple the process, a list of the best student car insurance companies across the US is explained below.
With many things as criteria to consider in choosing the best car insurance for yourself as a college student, for example, price, availability of discounts, etc,.
Keep reading to know more about which companies have the best auto insurance for college students and What is Insurance – The Types, Benefits, and Coverage of Insurance.
Best And Cheapest Car Insurance for College Students
Finding car insurance for college students is tasking and can be difficult, considering the high rates for careless inexperienced drivers and unique students all over campus.
1. Geico
Geico’s low rates and discounts make it the best and cheapest car insurance company for college students.
While the company’s quotes may vary depending on where you live, Geico consistently offers college drivers low auto insurance rates.
Geico also offers discounts to members of college groups, like alumni associations, and fraternities.
As a college student who is actively involved on campus, chances are you can receive good, discounted auto insurance rates.
2. State Farm
State Farm’s good-student discount offers up to 25% in annual auto insurance savings to eligible college students.
The eligibility requirements vary by state.
However, the driver must be a full-time student and have a grade point average of at least 3.0 out of 4.0.
Fortunately, the good news is that this discount lasts until drivers turn 25 years old, even if they graduate from college.
State Farm‘s student away-at-school discount is great for college students who live on a campus where a car is not a necessity.
3. Metromile
Metromile’s quotes allows drivers to enter their current auto insurance premiums so they can compare and see if switching companies will make sense.
Your monthly premium will consist of a base cost plus a per-mile fee, which means less driving equals lower insurance costs. Sounds cool right?
Metromile claims that if you drive fewer than 12,000 miles per year, which is the national average, you will save more money with its insurance.
5. Allstate
Allstate Mobile insurance allows you access their plan information, manage claims and instantly connect to an insurance agent.
You can file a claim directly from the app, which is the best part.
This saves you from long phone calls during what is usually a really stressful time.
Allstate’s Quick Trip app is a trip optimizer, which saves time and mileage.
Drivers can enter as many locations as they wish to visit, and the app will find the optimal multistep route for the day.
The Pro’s and Con’s of The Best Car Insurance for College Students
Below I will be highlighting and explaining some advantages and disadvantages of these companies, that have the best car insurance packages for college students.
1. Allstate
In as much as Allstate has the steepest premium on our list, college students can apply for discounts to bring down the cost of its auto insurance.
College students around the age of 18 can save $402 a year with Allstate by applying both excellent student and distant student discounts.
College students who can maintain a GPA of at least 2.7 may qualify for a good student discount.
If your young driver is attending school at least 100 miles from their primary residence, they may also be eligible for a distant student discount.
Pros
- Allstate offers money-saving programs such as Smart Student and teenSmart.
- If your student qualifies for an outstanding student and distant student discount, they could save $402 per year.
Cons
- Allstate has the highest premiums for full coverage insurance.
- The company has the second-lowest Bankrate Score.
2. Farmers
Students on their parents’ policy pay an average of $2,118 for their insurance each year with Farmers, the second-highest rate.
This rate reflects the added cost of a teen joining their parents’ policy.
Maintaining good grades or appearing on the Dean’s List or Honor Roll may result in savings, and so might attending college more than 100 miles from home without a vehicle.
By taking advantage of distant students and good student discounts, an 18-year-old driver may save an average of $400 on their annual premium cost.
Pros
- Students who make the Dean’s List or Honor Roll may be able to save.
- Farmers offer a student discount.
- Farmers’ youthful driver discount applies to any driver under 25 who is the child or grandchild of a policyholder.
Cons
- Farmers’ insurance isn’t initially cheap for college students, on average.
- The company has the second-highest full coverage premium on our list.
- The company received more than average complaints filed with the NAIC.
3. Geico
If you’re looking for cheap car insurance, you may want to get a quote from Geico.
Geico’s average annual cost for full coverage car insurance for 18-year-olds on their parents’ policy is $1,519, the lowest rate on our list.
By taking advantage of distant students and good student discounts, the average student rate comes down to $1,269 per year for full coverage.
College students can get other discounts to bring down the cost of the auto policy.
Geico also offers discounts for membership in several organizations.
Pros
- Geico offers discounts to more than 800 membership groups.
- College students can qualify for good student or distant student discounts.
- The company’s full coverage rate for college students without discounts is the lowest on this list.
Cons
- Geico doesn’t offer a 24/7 helpline like some of its competitors.
- Geico does not offer gap coverage.
- The company received more of complaints than average filed with the NAIC.
4. Progressive
Progressive’s average annual cost for full coverage car insurance for 18-year-olds on their parents’ policy is $1,727.
Eligibility for its good student discount requires a “B” letter grade or higher.
In addition to the standard good student and distant student discounts, Progressive also offers Snapshot.
This is a usage-based car insurance discount for infrequent and safe drivers.
To qualify for the distant student discount, college drivers must attend school at least 100 miles from their primary residence.
They must also be 22 years of age or younger and not have a vehicle with them at school.
Pros
- Some college students drive infrequently.
- Progressive allows drivers to pay based on usage.
- The company offers good student and distant student discounts.
Cons
- Progressive typically ranks lower than the industry average in customer satisfaction.
- The company received more complaints filed with the NAIC than average.
5. State Farm
Students with State Farm pay an average annual cost for full coverage car insurance of $1,615 a year when added to their parent’s policy, the second-lowest rate on our list.
State Farm offers up to 25% in annual savings for eligible college students who can maintain a GPA of at least 3.0.
Students attending school away from their primary residence without a car may also be eligible for a distant student discount.
Pros
- State Farm has the second-lowest full coverage premium on our list, without discounts.
- College students who qualify for both distant students and good student discounts save more than any other company on our list.
Cons
- The company doesn’t offer gap insurance to its customers.
- State Farm received more than average complaints filed with the NAIC.
Conclusion
The average cost of car insurance is a little above $1,500 per year for full coverage.
Therefore, the best and cheapest car insurance for you as a college student is from Geico.
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