A student must pay for tuition, books, and housing. All of the costs he incurred were significant. In addition to these costs, students also have to pay for their car insurance. Choosing car insurance as a student requires careful consideration.
In this article, let’s talk about how to get the cheapest car insurance for students.
Student Auto Insurance: Coverage Options
The information provided for student auto insurance is the same as for other drivers, aside from the cost consideration. There is no different coverage minimum for new drivers, and new drivers have access to the same coverage options and discounts as more experienced motorists.
Types of Standard Insurance for College Students
When choosing auto insurance, you must choose a policy that meets the minimum requirements of your country. This time, let’s talk about some types of standard insurance plans and what they cover.
- Bodily injury liability coverage
When you create accidents, third parties may incur medical expenses and missed pay.
- Property damage liability coverage
In the collision you caused, there was damage to cars and other property.
- Personal injury protection (PIP)
Your lost wages and medical bills, no matter who caused the accident.
- Medical payments coverage (MedPay)
No matter who is at fault for an accident, medical costs but not lost wages are covered.
- Uninsured motorist coverage/Underinsured motorist coverage
Accident-related costs if the driver at fault doesn’t have enough car insurance.
Of a few of the above offers, most experts advocate comprehensive plans that contain the following crucial but optional options:
- Collision insurance
Covers car damage caused by a collision, regardless of who is at fault.
- Comprehensive coverage
Insure your car against damage brought on by fires, floods, or other calamities.
College Students’ Additional Coverage Options
Some insurance companies will also help you manage the costs that come with owning a car.The existence of this option requires you to spend an additional few dollars per month.For some students, this service is very helpful.
- Roadside assistance
- Rental car reimbursement
- Accident forgiveness
- Gap insurance
- Rideshare insurance
- Mechanical breakdown insurance (MBI)
Cheapest Car Insurance for Students
Below, let’s see some details for car insurance that are best suited for college students.
- Price List for 18-year-old College Students
On average, 18-year-old college students pay $4,958 per year on car insurance. Here are some recommendations for his insurance company:
- USAA, Annual Average Rates $2,897
- Geico, Annual Average Rates $3,161
- State Farm, Annual Average Rates $3,340
- Travelers, Annual Average Rates $4,429
- Progressive, Annual Average Rates $7,812
- Price List for 19-year-old College Students
- USAA, Annual Average Rates $2,261
- Geico, Annual Average Rates $2,485
- State Farm, Annual Average Rates $2,924
- Travelers, Annual Average Rates $3,570
- Progressive, Annual Average Rates $4,258
- Price List for 21-year-old College Students
- USAA, Annual Average Rates $1,609
- Geico, Annual Average Rates $1,844
- State Farm, Annual Average Rates $2,322
- Travelers, Annual Average Rates $2,513
- Progressive, Annual Average Rates $2,872
Cost-Effective Auto Coverage for Students
Even though insurance costs are higher for drivers under 25 years old, but there are some solutions to reduce insurance costs such as discounts.In addition, there are several ways that you can make your expenses for car insurance more effective, including:
- Stay on a Family Insurance Policy
- Leave the Car at Home
- Maintain Good Grades
- Take a Driving Course
- Seek Out Other Discounts
- Reduce Your Coverage
- Consider a Telematics Program