Cheap Car Insurance for College Students and Recent Grads

June 07, 2015

cheap car insurance for college students and gradsCollege students and recent college graduates face a number of big changes, like living in a new area, finding a job, studying for classes and getting their own car insurance. None of these are easy tasks, but Compare.com can help with at least one. We’ve created a guide for cheap car insurance for college students and grads so you can focus on your other tasks (and have some extra money in your pocket too).

How to find cheap car insurance for college students

Finding cheap car insurance for college students is certainly a concern, but it’s rarely a top priority. Many college students just get a policy from the same insurance company that their parents use. Some go online and get a quote or two from different car insurance companies. But what’s the best car insurance for college students?

Luckily, we have several tips. Here’s how to find the cheapest car insurance for college students. Just follow our checklist!

Car insurance for college students’ policy check-up

  • If you are still on your parent’s car insurance policy, make sure you are a listed as a driver. If not, you may not be covered in the event of an accident.
  • Make sure you are assigned as the primary driver of the car you drive to school.
  • If you have your own policy, make sure your insurance policy reflects where you live and where you garage the vehicle. Address may be a variable that insurance companies use to price policies, plus having it updated makes submitting claims more efficient.
  • If you do not take the car to school, your parents can update the policy to reflect the change in how often the vehicle is being driven and how far. It might even lower car insurance premium since you’re driving less. Many insurance companies refer to this as a distant student discount and require that the college student attends school at least 100 miles away from home.
  • Check the limits on collision, comprehensive and liability coverages. Colleges are densely populated with limited-experience drivers. Thus, accidents are more likely to happen. Checking your coverages in these areas will help ensure that you have the appropriate coverage if an accident occurs.
  • Theft of vehicles and personal items from within vehicles is more common on and near college campuses. Be sure to avoid leaving valuables in vehicles parked around campus. And, of course, always lock your vehicle.

The best car insurance for college students

Unfortunately, there is no one absolute cheapest car insurance for college students. However, there is a simple solution: shop around. Every insurance company doesn’t calculate risk the same way, which means prices are different from company to company. Do your homework and get multiple quotes. But who’s got time for that? We can help you expedite your search with a single form that will give you multiple quotes at once. You can compare prices side by side, lock-in your best option, buy and be done.

Now, what advice do we have for our recent graduates? (P.S. congratulations!)

What is the best car insurance for recent college graduates?

cheap insurance for college studentsIf you’re a recent college graduate, what can you do to get cheap car insurance when getting your own car insurance policy? The first thing is to make sure that you have a good credit score. A good credit score can get you a better rate on car insurance. Be sure to keep your score up too by paying bills on time and paying overdue debts. Paying off your credit cards will help to you to maintain your current insurance price. On the other hand, falling behind on payments can hurt your credit score. If you get too far behind, your insurance carrier might choose not to renew your policy when your policy expires.

College grads can combine car insurance and other policies

Recent college grads will often have several insurance policies such as auto, renters and perhaps life insurance. One way to get cheap car insurance for college graduates is to bundle these policies. Bundling is when you buy multiple types of insurance together from the same insurance company. Not only might bundling decrease your auto insurance premium, but the premium for your other insurance products as well. Plus, it’s one less bill to worry about.

Getting the best car insurance for college graduates is about knowing what you need

Not many college grads run out and buy a new car immediately after commencement. Some get a new car from mom and dad, but not many. If you plan on driving your current car for a few years more, take a closer look at the coverage levels. If the car has a few scratches and dings, it might be worth raising the deductible or dropping comprehensive coverage.

Be careful though, because while you can save money by changing coverage levels and deductibles, you can also get yourself into a tight spot if you don’t have money put aside to deal with any issues that might arise.

The only way to get the best car insurance for college graduates is to compare prices. Age, driving history and your address are all factors insurance companies may consider when they price your policy. All of these factors are also currently in flux as a recent college grad, especially if you are moving out of state.

We make comparing car insurance for college students and recent grads easy. Enter your details once and we’ll show you the best options we have!

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You could save up to 32% by using Compare.com!

Based on a survey of 100 California Residents. Average savings determined via a comparison of their selected policy against their self-reported annual premium.