Best Affordable Insurance for College Students
You can find the best car insurance for college students when you stack your military discount with good student and good driving discounts. If you add a college student to an existing policy, you can qualify for multi-driver and multi-vehicle discounts, too. So while teens and young drivers pay the most for car insurance, you can get the most affordable car insurance for college students by shopping around and comparing quotes and discounts.
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UPDATED: Feb 28, 2022
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- The best insurance for college students will offer multiple discounts for good grades, good driving, and alumni membership
- GEICO offers the most affordable car insurance for college students, with average rates at $388/mo
- State Farm offers the biggest good student discount of 25%
You can find the best car insurance for college students and teen drivers when you comparison shop online. And, as a veteran, you can combine military discounts with good student discounts to lower your auto insurance rates even more.
Student car insurance is cheap when you apply all the auto insurance discounts for veterans you qualify for. Keep reading our guide to learn more about car insurance student discounts and which companies offer cheap insurance for college students. We compare rates from these companies and more to help you find the most affordable car insurance quotes in your area.
Affordable car insurance for college students is within your reach when you know where to look. Scroll down for a complete list of car insurance companies that offer student driver discounts.
Which company offers the best car insurance for college students?
Finding the best car insurance for 18-year-olds will take a little research. Take advantage of our resources to make your decision.
Below you’ll find a list of car insurance rates for students from the top companies. Each insurer offers a good student discount, and we’ve included the discount amount as well.
Auto Insurance Company Monthly Student Auto Insurance Rates Good Student Discount Amount
GEICO $338 15%
USAA $425 3%
Nationwide $478 10%
State Farm $553 25%
Progressive $585 10%
AAA $792 14%
Allstate $872 20%
Travelers $879 8%
Liberty Mutual $1,228 20%
The Hartford $1,293 15%
As you can see, GEICO offers the cheapest insurance for college students. However, its discount amount is less than you could qualify for with State Farm or Liberty Mutual. That’s why it’s important to comparison shop with multiple companies to see which offers the best rates for your family.
Each insurer will also have different requirements for student drivers. For example, discounts may be exclusive to students of a certain age or who maintain a certain GPA. Let’s take a closer look at what these car insurance companies offer and how you can qualify for discounts.
How To Get Student Discounts on Car Insurance
In general, student drivers must do the following to qualify for discounts:
- Maintain a GPA of “B” (3.0) or higher
- Be under 25 years of age
- Be a full-time student
- Have a good driving record
Some companies will vary on these requirements, but you can expect each to have its own version. For example, State Farm requires all student drivers to complete a five-course driving lesson and drive for five hours with a mentor before the discount is applied.
Other insurers have more specific requirements. For example, Allstate only offers its discount to students who go to school within 100 miles of where the insured vehicle is garaged. On the other hand, Progressive offers an additional discount to drivers who live farther than 100 miles away.
And if you want to shop with GEICO, the company also offers additional discounts to members of sororities, fraternities, honor societies, and other university organizations. The table below breaks down all the car insurance discounts available with the top companies. The discount amount is listed if it’s known.
Auto Insurance Discounts From Top Companies
Auto Insurance Discounts Allstate (%) American Family (%) Farmers (%) GEICO (%) Liberty Mutual (%) Nationwide (%) Progressive (%) State Farm (%) Travelers (%) USAA (%)
Adaptive Cruise Control N/A N/A N/A N/A 5 x x N/A N/A N/A
Adaptive Headlights N/A N/A x N/A 5 x x N/A N/A N/A
Anti-lock Brakes x x x 5 5 5 x 5 x x
Anti-Theft x x x 25 20 25 x 15 x x
Claim Free x x x 26 x 10 x 15 23 12
Continuous Coverage x x x x N/A N/A x N/A 15 N/A
Daytime Running Lights x x x 1 5 5 x N/A x x
Defensive Driver x x x x 10 5 10 5 10 3
Distant Student x x x x N/A 10 x x 7 x
Driver's Ed x x x x 10 N/A 10 15 8 3
Driving Device/App x x N/A x 30 40 20 50 30 5
Early Signing x x x x N/A 8 x N/A 10 12
Electronic Stability Control x x x N/A 5 x x N/A N/A N/A
Emergency Deployment N/A N/A N/A 25 N/A N/A N/A N/A N/A N/A
Engaged Couple N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Family Legacy N/A x N/A x N/A N/A x N/A N/A 10
Family Plan N/A x x N/A N/A 25 N/A N/A N/A N/A
Farm Vehicle x N/A x x N/A N/A N/A N/A N/A N/A
Fast 5 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Federal Employee N/A N/A x 8 10 N/A N/A N/A N/A N/A
Forward Collision Warning N/A N/A N/A N/A 5 x x N/A N/A N/A
Full Payment N/A x x x $5 N/A x N/A 7.5 N/A
Further Education N/A N/A N/A x 10 15 N/A N/A x N/A
Garaging/Storing N/A N/A x N/A N/A N/A N/A N/A x 90
Good Credit x x N/A N/A N/A x x x N/A N/A
Good Student x x x 15 22.5 10 x 25 8 3
Green Vehicle x N/A 5 N/A 10 N/A N/A N/A 10 N/A
Homeowner N/A N/A x x x 5 x 3 5 N/A
Lane Departure Warning N/A N/A N/A N/A x x x N/A N/A N/A
Life Insurance x N/A N/A N/A N/A x N/A N/A N/A N/A
Low Mileage x x x x x x x 30 x x
Loyalty N/A x N/A x N/A 5 x N/A N/A x
Married N/A N/A N/A N/A x x x x N/A x
Membership/Group N/A N/A N/A x 10 7 N/A N/A x N/A
Military x N/A x 15 4 N/A N/A x N/A x
Military Garaging N/A N/A N/A N/A N/A N/A N/A N/A N/A 15
Multiple Drivers N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Multiple Policies 10 29 x 10 20 10 12 17 13 x
Multiple Vehicles x x x 25 10 20 10 20 8 x
New Address N/A N/A N/A N/A 5 N/A N/A N/A N/A N/A
New Customer/New Plan N/A N/A N/A N/A x N/A N/A N/A N/A N/A
New Graduate N/A N/A N/A N/A 5 N/A N/A N/A N/A N/A
Newer Vehicle x N/A x x N/A x x 40 10 12
Newly Licensed N/A N/A N/A N/A 5 N/A N/A N/A N/A N/A
Newlyweds N/A N/A N/A N/A 5 N/A N/A N/A N/A N/A
Non-Smoker/Non-Drinker N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Occasional Operator N/A N/A N/A N/A N/A N/A N/A N/A N/A x
Occupation x N/A x x 10 15 N/A N/A x N/A
On-Time Payments x N/A N/A N/A N/A N/A N/A N/A 15 N/A
Online Shopper N/A N/A N/A N/A N/A N/A 7 N/A N/A N/A
Paperless Documents x x x N/A N/A 5 $50 N/A N/A N/A
Paperless/Auto Billing x x x N/A x $30 x $2 3 3
Passive Restraint x x x 40 x 20 x 40 x x
Recent Retirees N/A N/A N/A N/A 4 N/A N/A N/A N/A N/A
Renter N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Roadside Assistance N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Safe Driver N/A N/A x 15 N/A 35 31 15 23 12
Seat Belt Use N/A N/A N/A 15 N/A N/A N/A N/A N/A N/A
Senior Driver x N/A x N/A N/A N/A N/A N/A N/A x
Stable Residence N/A N/A N/A N/A N/A x x N/A N/A N/A
Students & Alumni N/A x N/A x 10 7 N/A N/A N/A N/A
Switching Provider N/A x x N/A 10 N/A x N/A N/A N/A
Utility Vehicle x N/A x x N/A N/A N/A N/A N/A N/A
Vehicle Recovery x x x 15 35 25 x 5 x x
VIN Etching N/A N/A x N/A 5 x x N/A x x
Volunteer N/A x N/A N/A N/A N/A N/A N/A N/A N/A
Young Driver N/A N/A N/A N/A x N/A x N/A N/A $75
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How many discounts do you qualify for with your insurer? If another company offers better discounts to veterans and college students, start comparing car insurance quotes. It can pay to shop around with multiple companies to see which offers the best rates and discounts for your college student.
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Why is car insurance so expensive for college students?
Finding affordable car insurance for college students isn’t hard, but you’ll run into a few challenges. For example, student car insurance rates are more expensive than the average drivers’ simply due to lack of experience. So, be prepared to pay more by default.
To give you an idea of how car insurance rates can vary by age, take a look at how State Farm and USAA car insurance rates can vary for 17-year-old to 25-year-old drivers:
Average Annual Auto Insurance Rates by Age and Gender
Group State Farm Average Annual Rates USAA Average Annual Rates
Married 35-year old female $2,081.72 $1,551.43
Married 35-year old male $2,081.72 $1,540.32
Married 60-year old female $1,873.89 $1,449.85
Married 60-year old male $1,873.89 $1,448.98
Single 17-year old female $5,953.88 $4,807.54
Single 17-year old male $7,324.34 $5,385.61
Single 25-year old female $2,335.96 $1,988.52
Single 25-year old male $2,554.56 $2,126.14
Unfortunately, single drivers under the age of 30 pay the most for car insurance. If you’re a young driver, college student, or have a student driver at home you want to add to an existing policy, prepare for your car insurance rates to go up.
Insurance companies incorrectly assume that young drivers cause the most accidents. However, recent research by the Insurance Information Institute found that drivers between the ages of 25-34 were behind the most accidents (17.6%) in 2019. Drivers between 16-24 years were responsible for 11.4% of accidents, less than any age group younger than 74 years.
The good news is that young drivers may pay more but can qualify for multiple discounts, including those listed in the table above. When you stack these discounts with your military discount, you can save up to 30% or more on auto insurance.
How can college students get cheap car insurance?
Stacking discounts is the easiest way for college students to save money on car insurance. However, there’s more than one way to lower your rates, including driving an older vehicle and parking your car in a garage. College students can also adjust their coverage levels and deductibles to get more affordable car insurance.
Adding a college student to a roommate’s or parent’s policy can lower rates, too, but they’ll raise the overall rates of every other driver on the policy due to their age. However, if those drivers are willing to compensate for a younger driver’s risk, it’ll help college students avoid the exorbitant rates of an individual policy.
Where is the best affordable car insurance for college students?
The best insurance for students and veterans is as follows:
- GEICO – $388/mo
- USAA – $425/mo
- Nationwide – $478/mo
A quick online comparison will show you that GEICO offers the most competitive rates. However, while companies like Progressive and State Farm may have more expensive rates upfront, each offers additional perks to students that can further reduce their rates.
Shop around and compare these rates with quotes from multiple companies in your area. Just because young drivers pay more for coverage doesn’t mean you can’t find affordable car insurance for college students.
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