How to find the best car insurance for college students?

Being a college student means you are tight on money and negotiating almost every purchase is the only way to get by. One of the things you should always negotiate to save money in college is car insurance. While there are many insurance companies, it is not cheap to get car insurance. Additionally, you might overpay for auto coverage if you don’t use the right strategies, bargain prices, or do your due diligence. So, how do you find the best car insurance for college students?

To get car insurance, you usually call or visit an insurance agent and get a quote from them. However, quotes typically don’t mean that it is the final or best offer. For example, some agents might not mention anything if you don’t take advantage of all the discounts you qualify for such as a high credit score, good GPA, etc.

To get the best car insurance for college students, you must be proactive and take matters into your own hands. For example, one insurance company might be willing to match a cheap quote from another provider. But, to get this deal, you must shop around and compare quotes from different providers. The best way to get cheap auto coverage rates is to start with some of the best car insurance companies that offer college students good deals and insurance discounts. These insurance companies include but are not limited to GEICO, State Farm, Progressive, USAA, and Travelers.

In this article, I will show you how to get cheap car insurance for college students.

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What to look for in car insurance?

Before I show you how to find the best car insurance for college students, let’s first examine things to look for in car insurance. Just because you are getting cheap insurance, does not mean the deal is good. If your agent will not take a call when you get into a car accident, paying only $30/mo will not be worth it. You still need to evaluate other factors when shopping for your auto insurance. Cheap insurance does not always mean cheap.

Here are three important things to look for when shopping for the best car insurance for college students.

Affordable rates. On top of the list of things to look for when shopping for the best car insurance for college students is affordability. The insurance you sign up for won’t be the best if you cannot afford it. Look for insurance that matches your budget and financial goals.

Customer service. Customer service is the second most important factor to evaluate when shopping for car insurance. You need to go with a company that will immediately take your call and give you great support when you call them no matter the time of the day.

Coverage. How much coverage you receive for the money you pay also makes a huge difference. Look for companies that give you the highest coverage at an affordable rate.

How to get the cheapest car insurance for college students?

To get the best car insurance for college students, take advantage of all discounts possible and compare quotes from different providers. Here are tips to get the cheapest car insurance if you are a college student.

1. Get quotes from multiple providers

The first and most important step to getting cheap auto coverage for college students is to get quotes from different insurance companies. Insurance companies use different algorithms that apply weights to the information you provide. If you have speeding tickets on your records, this information won’t have the same effect across all providers. For example, one provider can quote you for $120 per month whereas another one can quote you for a much lower or higher than this rate.

This happened to me when I was in college looking for car insurance. Geico and State Farm gave me more expensive quotes than Progressive. So, I went with Progressive at a 40% discount and I am still using Progressive.

2. Take advantage of all insurance discounts for college students

Being in college means you won’t have money lying around. The good news is that being a student also comes with many insurance discounts you can take advantage of. Almost every insurance company gives auto coverage discounts to college students.

Here are car insurance discounts for college students you should apply for when searching for auto coverage.

Good grades discounts

Most car insurance companies offer good grade discounts to college students. Usually, the age is capped at 25 and you must be married. You might also be required to be a full-time student to qualify for an insurance discount through the good grades discount program.

Generally, you get a discount for good grades when your GPA is at least 3.0 out of 4.0 scale.

When applying for car insurance, ask your agent if you qualify for a good-grade discount and have this discount factored into your quote to lower your premium.

Anti-theft device discount

Anti-theft devices are useful when living in high-crime areas or when planning to travel in one. LIvig in such areas means the insurance company might lose money if the car is stolen or vandalized. That is why some insurance companies lower your when you sign up for an antitheft device discount. If you are a student and looking for the cheapest car insurance, don’t forget to ask about this discount as it can save you dozens of dollars on your car insurance monthly.

Drive safe discounts

Do you know why an insurance company agrees to insure you and even give you a discount on your insurance coverage? The answer might surprise you. If you guess because they only want to make money, you are almost right. The real answer is that they are betting you won’t get into a car accident because it is the only way they can make money. That is why your insurance usually doubles or triples when you get into a car accident.

The point is that the insurance company makes money only when you don’t get into accidents. All insurance companies will go bankrupt if most people get into car accidents.

Many insurance companies such as State Farm have a program where safe drivers get discounts on their car insurance. All you do is sign up for the program and their system will monitor how you drive. If your driving habits meet the company’s metrics, you get rewarded with cheaper insurance. Your insurance discount is usually based on your driving characteristics and annual mileage.

When looking for the best car insurance for college students, ask your insurance company if they have driver-safe discounts and apply for them. With this saving strategy, you could easily lower your car insurance by dozens of dollars.

Resident student discount

The resident student discount is usually offered to students who attend school away from home normally more than 100 miles. This is because by going too far away, you won’t drive the car as much. As a result, insurance companies give your parents an auto discount for leaving your car at home. If you are in this category, don’t hesitate to ask your agent about the resident student discount.

3. Get a multiple-policy discount

Having an insurance bundle for different assets is a great way to get the cheapest car insurance for college students. If you have many assets such as a car, home, renters insurance, etc, that need coverage, bundling them can save you money. This is known as a multi-policy discount. I lowered my car insurance simply by bundling my auto and apartment renters insurance in college.

Why would companies give you discounts for bundling multiple policies? Because they would rather keep you on discount than see you with a competitor. It is all about retaining customers and bringing in sales.

4. Get a discount for having a good credit score

Did you know that having a good credit score can help you lower the cost of your car insurance? Insurance companies in states where credit-based rates are allowed might give you premiums for having a good credit score. According to Bankrate, to qualify for this discount, you must live in a state that allows credit to be used as a factor and the insurance company uses credit-based insurance scores.

So, if you are in college and have good credit, ask your insurance company if having a good credit score qualifies you for a reduced auto premium.

5. Have old traffic violations removed from your profile

Traffic violations such as speeding tickets or an accident get reported on your profile and affect your auto insurance for 3 years. After three years, however, they automatically get removed from your file, lowering your insurance premium. Your job is to ensure your premiums are adjusted when your traffic violations are removed to reflect this change. If you don’t take action, you might keep paying a higher car insurance whereas you qualify for a much lower due to improved driving record.

6. Stay on your parent’s coverage

Another great way to get the best car insurance for students is to remain on your parent’s coverage. Bundling multiple policies is a great way to lower your auto coverage and there is no great way to do this than staying on your parent’s coverage. This is because most parents bundle all their insurance including auto, homeowners insurance, boats, and much more, lowering their overall premiums. For this reason, keeping your car to your parent’s coverage gives you access to lower premiums due to multiple policy coverages.