Jessica Sautter is a Content Writer for CarInsuranceCompanies.com with a Bachelor’s Degree from Eastern Michigan University in Elementary Education with a Major in Reading and a Minor in Mathematics.

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Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager

UPDATED: Nov 9, 2020

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Here's what you need to know...

  • Most college students are considered high-risk drivers
  • Good student discounts can lower your monthly premium
  • Having good credit can also reduce the cost of car insurance

As a rule, insurance companies increase their premiums in accordance with the level of risk associated with the client. College students fall under the high-risk umbrella because of the way they live.

As such, to answer the question what company offers affordable car insurance for college students is a  major challenge. There is no one company that can be said to offer the best possible and affordable plan for college students.

However, following the following tips might considerably reduce the cost of the insurance cover bought by a college student.

Enter your zip code above to compare affordable car insurance quotes for FREE!

Table of Contents

Reducing Insurance Costs

Generally, the easiest way to reduce insurance costs is for the student to include themselves in their parents’ cover.

This saves money and presents fewer complications as the insurance provider already has a relationship with the parents.

Another crucial factor is credit score rating; having a superb credit history can go a long way in reducing a student’s insurance cost.

Most insurance companies take this seriously and offer cheaper rates to those with good credit.

Having a low-danger driver profile also helps.

The student should ensure that their driving history is devoid of infractions like driving under the influence, joy riding, parking offenses etc.

It also provides the insurance company with the impetus to avail a better coverage plan.

All the same, the burden of the value of insurance cover versus the cost incurred falls on the college student.

This is so because every company alleges that they provide the most affordable car insurance in the market.

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Suitable Insurance Policies

There are a number of plans available to college students in the market. The first is the accident policy.

The car is insured against damage incurred during an accident or vandalism; the options provided are either monetary reimbursement for the damage or repair costs paid directly to the auto repair garage.

This policy is absolutely necessary before putting the vehicle on the road.

The second is the health insurance coverage policy.

This cover provides insurance for any physical injury that the student may suffer in case of an accident.

The extent of the coverage will depend on the clauses agreed upon at the time of purchase.

The third is third-party insurance policy. This provides cover for any damage caused by the car, be it structural damage to other vehicles or buildings or injuries sustained by other road users in the event of an accident.

Finding an affordable cover for a college student can be made easy through the internet.

This is because many companies offer a host of discounts to students.

Some of the discounts available include:

  • Student discount for families that insure all their other vehicles with the same company.
  • An auto insurance coverage discount is also available for students who demonstrate high performance.
  • Students who have a certified driver education certificate are eligible for insurance discounts.

A different strategy for discovering low-cost student car insurance is investigating and associating costs and coverage delivered by several companies.

These sites characteristically offer straightforward information on terms and premiums and sometimes allow direct evaluations of available plans from numerous insurance companies.

Reducing Insurance Costs

In essence, there are a variety of ways for reducing automobile insurance costs for college students.

One certain offer that key insurance coverage companies have is reduced fees on college students with a mean grade point of more than 3.0.

In addition, female college students have lesser rates, since males are thought to be the more aggressive of drivers.

The location of the residence where the student lives also affects the insurance rates.

A student that lives closer to college benefits from lower rates, as it is perceived that the lesser the distance covered while driving the lesser the occurrence of accidents.

In addition, the college location also determines the insurance rates, as in out-of-town colleges are offered lesser rates than urban colleges.

The type of automobile driven by the college student also determines the cost of insurance coverage. The vehicle with more safety features is likely to be offered better insurance policies than one with mediocre safety features.

With this article, students can considerably reduce their automobile insurance coverage costs by following the highlighted tips and steps.

Enter your zip code below and we will help you find affordable car insurance by sending multiple car insurance quotes to compare for FREE!

References:

  1. https://www.thebalance.com/how-to-get-your-driving-record-527249
  2. https://www.libertymutual.com/auto/car-insurance-coverage/bodily-injury-liability
  3. http://www.businessdictionary.com/definition/third-party-insurance.html
  4. https://www.progressive.com/auto/discounts/