How to Save on Car Insurance for College Graduates
Many college graduates face another costly part of life: the cost of car insurance. However, there are ways to get the best rates on this insurance and save money! So read this article to find out how to save on car insurance for college students.
What Is the Average Cost of Car Insurance for College People?
The average cost for car insurance for college people can vary depending on a few factors, such as someone's driving history, location, and credit score. However, according to The College Board's 2018 report on student debt, the average total student loan debt was $33,000. Therefore, the rates could be higher if someone has a car loan and is not using it for essential transportation needs (like going to school). To get an idea of what car insurance for college students' rates might look like for someone who is a recent college graduate. The General has compiled an overview of rates for young adults between the ages of 21 and 24 in each state. For this study, The General used data from reliable sources like Car Insurance Comparison to identify the state with the lowest average premium rate ($854) and the state with the highest average premium rate ($1,552). For example, Massachusetts had the lowest average premium rate at $854, while Mississippi had the highest average premium rate at $1,552.
Therefore, if someone is living in one of these states or planning on moving there soon, expect the car insurance rates to be significantly higher than they would be if someone lived in a state with a lower average premium rate. Overall, the average car insurance rate for young adults in Massachusetts is $1,348. This rate will be higher than the national average ($1,335). The average cost of car insurance for young adults in Mississippi is $2,066, which is higher than the national average ($2,050). The following graph shows how car insurance rates vary by state. One can see that overall, drivers are paying more for their auto insurance premiums in states with the highest average premium rates. After comparing all 50 states, the General determined that California had the highest "one-year cost" at $7,248. Since, California's one-year cost factors in both size and risk of a claim, this figure likely represents the best rate.
How Do Discounts Work on Car Insurance for College Students?
One way to save on car insurance for college students is to get a discount from their state's auto club. Many states offer discounted rates to members of their auto clubs, and some even offer insurance discounts specifically for college students. To find out if one is eligible for any discounts, contact Sara Routhier, Director of Outreachat Car Insurance Comparison auto club, and ask about the benefits they offer members. One may also be able to find information about the club online. Another way to save on car insurance is to shop around for rates. Different companies may have different rates for drivers living in the same area, with a good driving record, and not driving in a high-risk category. If someone is unsure how much car insurance costs, try using an online quote tool or contacting one of the major car insurance companies directly.
College students are just starting out in the driver's seat and are known for being safer drivers. As long as they keep their driving record clean and don't accumulate any traffic tickets, they should be able to get low rates on car insurance. Besides, keeping their driving record clean, ensure they have a good understanding of what kind of coverage they need. Someone may be surprised by how much coverage the car insurance policy offers for liability purposes. If one is involved in an accident, having liability coverage will help protect them financially from any legal judgments that might be levied against them.
Another way to save on car insurance for college students is to bundle their policies with those of friends or family members. This can give them discounts for being a part of a group and sharing responsibility for each other's safety on the road. Plus, bundling can help ensure that everyone in their vehicle has adequate coverage in case of an accident.
Tips to Save Money on Car Insurance by Speeding up Renewals
If someone is a college graduate, they must know how to save on car insurance for college students. One way to do this is to speed up their renewals. Here are some tips to help them get the most out of their auto insurance policy:
Check the coverage: Ensure they have the necessary coverage for their vehicle and driver. All states require minimum liability insurance limits for drivers under 25. Many states also require certain types of coverage, like comprehensive and collision.
Shop around: Compare rates from different providers before choosing a policy. Depending on the driving record, one may be eligible for discounts or special offers from their insurer.
Get a discount on the policy: If someone has a good driving record and meets certain other requirements, they may be able to receive a discount on their policy. Ask the insurer if any special promotions are available that fit the needs.
Ensure all someone can: By ensuring all aspects of the vehicle - engine, drivetrain, body, and cargo they're more likely to be covered in the event of a crash.
One of the many things college students have to worry about is how to save money on car insurance. College graduates may be eligible for discounts on their auto insurance rates, depending on their state. Here are four states with the best carinsurance rates for college graduates: College graduates in Maryland can qualify for a discount on their carinsurance rates if they have at least one year of driving experience and have a good driving record. College graduates in Utah can qualify for a discount on their carinsurance rates if they have at least one year of driving experience and have a good driving record. College graduates in New Hampshire can qualify for a discount on their carinsurance rates if they have at least two years of driving experience and have a good driving record. Finally, college graduates in Rhode Island can qualify for a discount on their carinsurance rates if they have at least three years of driving experience and have a good driving record.