- Erie
- State Farm
- Nationwide
- Allstate
Cheapest companies for students by age
Of the many factors that determine how much students pay for car insurance, senesce is one of the most crucial. Our research found that, on average, an 18-year-old pays $ 3,430 a year for car indemnity, while a 22-year-old give $ 2,415 — a deviation of more than $ 1,000 a class.
Company | 18-year-old | 19-year-old | 20-year-old | 21-year-old | 22-year-old |
---|---|---|---|---|---|
Erie | $1,708 | $1,563 | $1,451 | $1,359 | $1,216 |
USAA | $1,715 | $1,534 | $1,386 | $1,270 | $1,194 |
State Farm | $2,386 | $2,164 | $1,977 | $1,841 | $1,737 |
Allstate | $3,312 | $3,547 | $3,476 | $2,569 | $2,475 |
GEICO | $3,418 | $3,019 | $2,739 | $2,580 | $2,505 |
Average | $3,430 | $3,093 | $2,892 | $2,537 | $2,415 |
American Family | $3,529 | $3,161 | $3,063 | $2,203 | $2,145 |
Nationwide | $3,640 | $3,148 | $2,799 | $2,164 | $2,000 |
Auto Club | $3,735 | $3,735 | $3,735 | $3,735 | $3,735 |
Auto-Owners | $4,112 | $3,559 | $3,004 | $2,666 | $2,407 |
CSAA | $4,267 | $4,267 | $4,267 | $4,267 | $4,267 |
Farmers | $4,306 | $4,306 | $4,306 | $4,306 | $4,306 |
Progressive | $4,605 | $3,292 | $3,230 | $2,751 | $2,464 |
Travelers | $5,874 | $5,148 | $4,492 | $3,916 | $3,540 |
Mercury | $6,329 | $4,842 | $4,198 | $2,251 | $1,975 |
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. |
The above rates are for a full-coverage policy. The cheapest ship’s company may change based on your age. however, Erie, State Farm, Allstate, USAA and GEICO are systematically great low-cost options for college students .
Because rates can change so much depending on how previous you are, we recommend reevaluating your car policy on a regular footing to make certain you are not overpaying .
Compare insurance companies to find your cheapest student rates!
Cheapest companies for students by gender
male students pay more for car policy than female students, on average. The dispute in modal monetary value between genders is smaller for older demographics, but for young drivers, males are considered a very bad group to insure .
Company | (F) base policy | (F) full coverage | (M) base policy | (M) full coverage |
---|---|---|---|---|
Erie | $649 | $1,315 | $740 | $1,504 |
USAA | $741 | $1,322 | $777 | $1,422 |
State Farm | $1,130 | $1,823 | $1,263 | $2,085 |
Allstate | $1,317 | $2,606 | $1,556 | $3,313 |
Nationwide | $1,496 | $2,348 | $1,772 | $2,856 |
American Family | $1,552 | $2,427 | $1,844 | $2,974 |
Average | $1,568 | $2,616 | $1,719 | $2,940 |
GEICO | $1,596 | $2,637 | $1,694 | $2,896 |
Auto-Owners | $1,597 | $2,734 | $1,825 | $3,245 |
Mercury | $1,779 | $3,150 | $2,035 | $3,928 |
Progressive | $1,911 | $2,967 | $1,971 | $3,219 |
CSAA | $1,992 | $4,267 | $1,992 | $4,267 |
Auto Club | $2,216 | $3,735 | $2,216 | $3,735 |
Travelers | $2,406 | $4,031 | $2,848 | $4,708 |
Farmers | $2,734 | $4,306 | $2,734 | $4,306 |
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. |
Get the cheapest insurance policy for you by comparing rates
Best auto insurance companies for students
To find the best car indemnity company for you, we recommend evaluating companies based on four criteria : price, regional availability, coverage and customer satisfaction .
Below, we highlight the top car policy companies in the U.S., a well as their scholar discounts that you might want to take advantage of. Discounts were not factored into the average full coverage rates .
Company | Average full coverage rate | Good student discount | Student away from home discount | 2019 J.D. Power claims satisfaction rating | Market share |
---|---|---|---|---|---|
State Farm | $1,954 | Up to 25% | Yes | 878 | 14% |
Progressive | $3,093 | Yes, discounts vary | Yes | 856 | 12% |
GEICO | $2,766 | Up to 15% | No | 879 | 12% |
Allstate | $2,959 | Yes, discounts vary | Yes | 853 | 8% |
USAA | $1,372 | Yes, discounts vary | No | 900 | 5% |
Liberty Mutual | — | Yes, discounts vary | Yes | 857 | 5% |
Farmers | $4,306 | Yes, discounts vary | Yes | 865 | 4% |
Nationwide | $2,602 | Yes, discounts vary | No | 867 | 3% |
Travelers | $4,369 | Up to 8% | Yes, up to 7% | 865 | 3% |
American Family | $2,700 | Yes, discounts vary | Yes | 857 | 2% |
Auto-Owners | $2,989 | Up to 20% | Yes | 870 | 1% |
Erie | $1,409 | No, but “Youthful Driver” discount up to 20% | Yes | 879 | 1% |
Auto Club | $3,735 | Up to 14% | Yes, up to 47% | 866 | 1% |
Mercury | $3,539 | Yes, discounts vary | No | 837 | 1% |
CSAA | $4,267 | Yes, discounts vary | No | 847 | 1% |
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. |
When it comes to comparing the coverage between companies, make sure you pay attention to the coverage limits in your quote or declarations page. This is where you ’ ll find the details about how much coverage the policy company is offering you. When you compare prices, the coverage should be the lapp or alike .
If you go to college out of country, you may want to choose a company that is besides available in your home state. By doing this, you leave open the option to get on your parents ’ insurance plan.
Read more: Cheap Auto Insurance – Douglasville, Georgia
How students can save on auto insurance
Because college students tend to be between the ages of 18 and 25, they are involved in more accidents and dealings citations than older drivers, which leads to high indemnity premiums. however, there are a few ways students can save .
Shop around
Shop around and compare quotes from respective insurers before choosing one option over another. The profit of this legwork is that it ensures you find your best rates and the right measure of coverage. additionally, we recommend reevaluating your policy and insurance needs on a even basis, considering how much age affects car indemnity rates .
Drive an older car
Driving an older use vehicle rather of a newer model frequently leads to cheaper indemnity. That ’ south because older cars tend to be cheaper to insure because they are n’t adenine dearly-won to repair and require less coverage. The older your car is, the less coverage you ’ ll want for damage to it .
Stay on your parents’ insurance
If the vehicle you take to college is owned by your parents, it may be in your best sake for it to be added to your parents ‘ policy policy ( if it is n’t already ). specially if there are others on the policy that have a good drive history, this may be the cheapest choice for many students .
Get good grades
many indemnity companies offer young adult customers ( or their parents, depending on who is footing the bill ) a reduced rate if they can prove they ‘re a full-time scholar and have a good GPA .
These reduced rates can be up to 25 % lower than what drivers between the ages of 16 and 25 would receive differently, depending on the insurance company. As a result, be sure to let your agentive role know if your scholar has a senior high school GPA, much a 3.0 or above .
Complete a defensive driving course
Some car policy companies offer discounts to students who go through a defensive drive course or driver ‘s department of education program. We recommend checking with your current insurance company to see if they offer this discount, and if they do, take advantage of it. The cost of the run is frequently worth the savings it results in .
Raise your deductible
Raising your deductible is probably the easiest way for students to lower their rates. If your fomite is still deserving enough that dropping your collision and comprehensive examination coverage is n’t a good mind, you could placid raise the deductible associated with that coverage. Keep in mind that you ‘ll have to pay more if you ‘re in an accident, though.
Methodology
We analyzed 271,320 quotes from 15 companies in the succeed seven states : California, Illinois, Indiana, Ohio, Oregon, Washington and Wisconsin. These states were chosen as congressman of the national car indemnity market, and besides represent varying driving environments .
The policies we considered were for a male and female driver between the ages of 18 and 23, for a 2010 Toyota Camry. The coverage specifics were as follows :
Coverage | Base policy | Full coverage |
---|---|---|
Bodily injury liability | 25/50 | 25/50 |
Property damage | $25,000 | $25,000 |
Underinsured/uninsured motorist bodily injury liability | 25/50 | 25/50 |
Collision | None | $1,000 deductible |
Comprehensive | None | $1,000 deductible |
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