When attending college, there are other things to consider, including auto insurance.Whether you intend to drive to college or leave it at home, it is critical to prepare ahead and not let your vehicle insurance policy lapse, since this can make getting coverage more expensive in the long run.
vehicle insurance can be costly for young adults, but there are several vehicle insurance firms that give discounts to students. CNBC Select analyzed the major insurers to determine the best vehicle insurance carriers for students based on pricing, coverage, availability, customer satisfaction, and financial soundness.
The best car insurance for students
- Geico Auto Insurance
Geico is an excellent alternative for most students, with low prices and great financial strength ratings. Geico was also designated a top selection by CNBC Select for a variety of other categories of drivers, including seniors, young adults, and those wishing to package home and auto insurance.
SGeico is available throughout the United States. The company’s coverage includes a number of useful features for college student drivers, such as an app for making payments, accessing digital ID cards, and reporting claims. Geico also provides discounts for new automobiles, clean driving records, and specific vehicle accessories, in addition to a student discount.
Average annual full coverage premium for an 18-year-old on their parents’ policy: $2,523
- State Farm Auto Insurance
State Farm’s low-cost coverage can be customized to meet the specific needs of students. It ranks highly in customer satisfaction, according to J.D. Power’s customer satisfaction study. A++ rating from A.M. Best additionally distinguishes the organization in terms of financial strength.
State Farm provides many discounts, including a good student discount for people under the age of 25 with a B average or who have made their school’s dean’s list. Those who choose to leave their car at home may be eligible for the company’s student away at school discount, which allows automobile use during school vacations or holidays.
Average annual full coverage premium for an 18-year-old on their parents’ policy: $2,689
Best for students leaving their cars at home
- Progressive Auto Insurance
Progressive may be a good alternative for people who wish to leave their automobile at home. Drivers can suspend collision coverage (which can assist repair or replace a vehicle involved in a collision) while maintaining comprehensive coverage, which covers scenarios such as theft or weather-related damage. It also provides a remote student discount for students who live more than 100 miles away and leave their automobile at home.
Progressive provides insurance in all 50 states. For people with a clean driving record, the firm also provides customizable coverage options and a disappearing or vanishing deductible.
Average annual full coverage premium for an 18-year-old on their parents’ policy: $3,163
Best for pay-per-mile car insurance
- Allstate
Traditional auto insurance from Allstate is an economical alternative for college student drivers looking for coverage. Those who don’t drive much, such as students who live on campus or use public transportation, may profit from the company’s pay-per-mile vehicle insurance. These plans have a per-day and per-mile fee. It may be less expensive than regular auto insurance depending on your driving habits. Milewise from Allstate was chosen as one of CNBC Select’s top options for pay-per-mile coverage.
Allstate is an excellent choice for people seeking for pay-per-mile coverage. Milewise from Allstate features a road trip exclusion and is paid for on the go via a mobile app.
Average annual full coverage premium for an 18-year-old on their parents’ policy: $4,148