Compare Drivers With a College Degree Car Insurance Rates in 2024 (Top 10 Companies)
Compare drivers with a college degree car insurance rates with top companies like State Farm, USAA, and Progressive. This review examines their rates, coverage options, and discounts, aiding graduates in informed decision-making for vehicle protection.
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Michael Vereecke
Commercial Lines Coverage Specialist
Michael Vereecke is the president of Customers First Insurance Group. He has been a licensed insurance agent for over 13 years. He also carries a Commercial Lines Coverage Specialist (CLCS) Designation, providing him the expertise to spot holes in businesses’ coverage. Since 2009, he has worked with many insurance providers, giving him unique insight into the insurance market, differences in ...
Commercial Lines Coverage Specialist
UPDATED: Feb 13, 2024
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Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Feb 13, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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- State Farm, USAA, and Progressive stand out as the top contenders for drivers with a college degree.
- Specialized discounts and coverage plans, such as good student incentives and alumni discounts.
- Liability, collision, and comprehensive cater to diverse needs.
Are you a recent college graduate looking for car insurance? Have you thought about what kind of car insurance you’ll need to feel secure on the road? Buying insurance can be a confusing ordeal, especially when you are right out of college.
| Company | Rank | See Pros/Cons | Educational Discount | Safe Driver Discount | Best for |
|---|---|---|---|---|---|
 | #1 | State Farm | Up to 10% | Up to 30% | Good -Student Discounts |
 | #2 | USAA | Up to 15% | Up to 25% | Customer Service |
 | #3 | Progressive | Up to 8% | Up to 30% | Loyalty Rewards |
 | #4 | Allstate | Up to 10% | Up to 30% | Online Convenience |
 | #5 | Liberty Mutual | Up to 8% | Up to 25% | 24/7 Support |
 | #6 | Farmers | Up to 10% | Up to 20% | Comprehensive Coverage |
 | #7 | Nationwide | Up to 12% | Up to 25% | Vanishing Deductible |
 | #8 | Travelers | Up to 10% | Up to 20% | Multi-Policy Discounts |
 | #9 | American Family | Up to 8% | Up to 25% | Alumni Discount |
 | #10 | Esurance | Up to 10% | Up to 30% | Budgeting Tools |
In this article, we will look at some of the coverages required to be compliant with the law as well as some of the other supplemental coverage areas you may want to consider.
Remember that just because they are offered does not mean you have to take them. but it gives you a starting place while shopping for insurance so that you can find the coverage that best suits your needs.
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#1 – State Farm: Protecting Your Drive With Affordable Excellence
USAA stands out as the top choice for college graduates with its exceptional coverage tailored for military members and unmatched affordability, offering rates as low as $85 for full coverage and $32 for minimum coverage.
Melanie Musson Published Insurance Expert
Pros
- Competitive rates: State Farm offers affordable rates, standing out with $111 for full coverage and $42 for minimum coverage.
- Educational discount: Up to 10% educational discount, catering specifically to college graduates.
- Safe driver benefits: Enjoy up to 30% safe driver discount, emphasizing good student incentives.
Cons
- Limited educational discount: While offering a discount, State Farm’s 10% educational discount may be lower compared to some competitors.
- Varied customer experiences: Reviews and ratings may vary, requiring careful consideration of individual preferences.
Read more: State Farm Car Insurance Review
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#2 – USAA: Exceptional Coverage Tailored for Military Members
Pros
- Exceptional affordability: USAA leads in affordability, offering unmatched rates at $85 for full coverage and $32 for minimum coverage.
- Military benefits: Exclusive benefits for military members, aligning with the unique needs of this demographic.
- Strong customer service: USAA stands out for its exceptional customer service, a significant factor for customer satisfaction.
Cons
- Membership limitations: USAA is exclusive to military members and their families, limiting accessibility.
- Potential eligibility criteria: While offering great rates, eligibility requirements may restrict access for some individuals.
Read more: USAA Car Insurance Review
#3 – Progressive: Where Affordability Meets Comprehensive Protection
Pros
- Balanced coverage and affordability: Progressive provides a balanced combination of coverage and affordability with $146 for full coverage and $54 for minimum coverage.
- Loyalty rewards: Up to 30% loyalty rewards, offering incentives for long-term customers.
- Wide coverage options: Progressive offers comprehensive coverage, ensuring a broad range of protection.
Cons
- Limited educational discount: With an 8% educational discount, Progressive’s offerings may be less competitive for college graduates.
- Potential for higher rates: Some customers may find rates slightly higher than other providers based on specific circumstances.
Read more: Progressive Car Insurance Review
#4 – Allstate: Seamless Convenience and Varied Discounts
Pros
- Online convenience: Allstate offers convenient online services for policy management and claims.
- Varied discounts: Up to 30% safe driver discount and 10% educational discount contribute to cost savings.
- Comprehensive coverage: Known for providing a wide range of coverage options.
Cons
- Higher rates: Some customers may find Allstate’s rates relatively higher compared to other providers.
- Mixed customer reviews: Customer experiences vary, with some expressing dissatisfaction.
Read more: Allstate Car Insurance Review
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#5 – Liberty Mutual: 24/7 Support and Personalized Coverage
Pros
- 24/7 support: Liberty Mutual offers round-the-clock customer support for assistance.
- Up to 25% discount: Liberty Mutual provides an 8% educational discount and up to 25% safe driver discount.
- Comprehensive coverage: Offers various coverage options for a personalized insurance plan.
Cons
- Limited educational discount: The 8% educational discount may be lower compared to competitors.
- Mixed customer service reviews: Customer reviews vary, with some citing concerns about service.
Read more: Liberty Mutual Car Insurance Review
#6 – Farmers: Comprehensive Options for Tailored Protection
Pros
- Comprehensive coverage: Farmers offers diverse coverage options for tailored protection.
- Up to 20% safe driver discount: Safe drivers can benefit from substantial discounts.
- A.M. best rating: Farmers holds an A rating, signifying financial stability.
Cons
- Varied customer experiences: Customer reviews indicate mixed satisfaction levels.
- Average rates: While competitive, some customers may find slightly more affordable options elsewhere.
Read more: Farmers Car Insurance Review
#7 – Nationwide: Vanishing Deductibles and Extensive Coverage Choices
Pros
- Vanishing deductible: Nationwide offers vanishing deductible options for safe drivers.
- Up to 25% safe driver discount: Substantial discounts for safe driving records.
- Comprehensive coverage: Provides a wide range of coverage options.
Cons
- Varied customer service reviews: Customer experiences vary, requiring careful consideration.
- Average rates: While competitive, some customers may find more affordable options.
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#8 – Travelers: Superior Coverage and Multi-Policy Discounts
Pros
- Multi-policy discounts: Offers additional savings for customers bundling multiple policies.
- Up to 20% safe driver discount: Provides substantial discounts for safe driving records.
- Educational discount: Offers up to 10% educational discount for college graduates.
Cons
- Mixed customer reviews: Customer experiences vary, indicating the importance of individual preferences.
- Limited educational discount: Some competitors may offer higher educational discounts.
Read more: Travelers Car Insurance Review
#9 – American Family: Alumni Discounts and Diverse Coverage Plans
Pros
- Alumni discount: American Family offers an alumni discount for college graduates.
- Up to 25% safe driver discount: Substantial discounts for safe driving records.
- Comprehensive coverage: Provides various coverage options for personalized plans.
Cons
- Varied customer experiences: Customer reviews vary, requiring individual considerations.
- Online tools: While available, American Family’s online tools may not be as advanced as some competitors.
Read more: American Family Car Insurance
#10 – Esurance: Budgeting Tools and Comprehensive Protection
Pros
- Budgeting tools: Esurance provides tools to help customers budget effectively.
- Up to 30% safe driver discount: Substantial discounts for safe driving records.
- Comprehensive coverage: Offers diverse coverage options for personalized plans.
Cons
- Mixed customer reviews: Customer satisfaction varies, necessitating careful consideration.
- Online-focused: Esurance’s emphasis on online services may not suit all customer preferences.
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Comparing Rates With the Best Car Insurance Companies for Drivers With a College Degree
When it comes to securing car insurance for drivers with a college degree, finding the right balance between cost and coverage is essential. Here’s a detailed comparison of average monthly rates for full and minimum coverage among the best car insurance companies tailored for graduates:
| Insurance Company | Full Coverage | Minimum Coverage |
|---|---|---|
| State Farm | $111 | $42 |
| USAA | $85 | $32 |
| Progressive | $146 | $54 |
| Allstate | $190 | $72 |
| Liberty Mutual | $215 | $83 |
| Farmers | $180 | $68 |
| Nationwide | $150 | $57 |
| Travelers | $116 | $44 |
| American Family | $147 | $55 |
| Esurance | $114 | $46 |
Among the best car insurance options for college graduates, State Farm stands out with competitive rates of $111 for full coverage and $42 for minimum coverage. USAA takes the lead in affordability, offering unmatched rates at $85 for full coverage and $32 for minimum coverage, with exclusive benefits for military members.
Progressive positions itself as a compelling choice for college graduates, providing a balanced combination of coverage and affordability at $146 for full coverage and $54 for minimum coverage. Consider these top-tier choices, weighing factors like customer service, discounts, and additional benefits to make an informed decision that suits your needs as a college-educated driver.
Read more: Compare Drivers Without a College Degree Car Insurance Rates
What are the minimum car insurance requirements for college students?
The first thing you need to do is to make sure that you have the mandatory coverage amounts required in your home state.
To find out what your mandatory amounts are, go to this state map that covers the various insurance laws and regulatory mandates for insurance in the respective states.
The general mandatory insurance requirement usually runs from $25,000-$50,000 per person for bodily injury liability coverage, around $25,000 per accident for personal injury liability, and $10,000-$15,000 for property damage liability.
These are just estimates and averages, of course, and this varies from state to state.
Read more: Compare Medical Student Car Insurance Rates
Is there optional insurance coverage?
There are some other optional coverage areas that you can add to your car insurance policy if you choose to. Some of the most common extra coverage areas are listed below with their descriptions.
Uninsured/underinsured
Uninsured and underinsured insurance is meant to cover expenses that the other driver cannot cover due to being underinsured or not insured at all.
This insurance would only need to kick in when the other driver was ruled at fault and when they did not have sufficient insurance to pay for damages.
This extra coverage is required in some states but not in others. Either way, it is a great coverage to have because it will cover your loss when the other guy’s insurance does not.
Medical payments or personal injury protection (PIP)
Medical payments are optional insurance coverage that pays for medical costs or injuries to you or your passengers.
It is sometimes required but not always. It is considered duplicate medical coverage by some because it only goes to medical bills, but it can certainly come in handy if you discover you have more significant injuries than you thought or have to have ongoing treatments.
Collision
Collision insurance is meant to cover damage to your vehicle that is due to your own negligence or fault.
Remember the other driver’s insurance will be used when they were ruled at fault, but you can use collision insurance when the accident is your fault.
Deductibles are included within collision coverage so you should make your deductible no more than you can afford to pay out-of-pocket costs in the event of a collision.
Comprehensive
Comprehensive insurance covers many things that are not covered by car insurance. Remember that theft, vandalism, acts of nature, and hail are all examples of factors that are not covered by your normal insurance coverage.
Glass coverage
Another smaller coverage that many people do not think about getting is glass coverage. Windshield replacement can cost anywhere around $200 or more. If you live in a storm or flood area or are on the road every day, you may want to consider this optional coverage.
Gap insurance
If you are leasing a car, you may want to invest in temporary gap insurance.
This is insurance that is meant only to last around 28 days for a car that is leased to you while you are waiting to get your car. It only covers the difference between the street value of your car and the amount of the lease. It is not meant to be permanent insurance.
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What discounts are available for college graduates?
Now that you know some of the kinds of coverage you’ll need to look for, you’ll also want to think about the kinds of discounts you may qualify for.
New college graduates, depending on your situation, may qualify for a variety of discounts.
Insurance providers offer discounts depending on the type of vehicle you drive, your age, and your driving record.
- Good driver discount – If you have a great driving record, you may qualify for a discount on your car insurance premium.
- Good student discount – If you plan to continue your education to the next level and enroll in graduate school, or if you are still a student on any level or in any training school, you will likely qualify for this discount if your insurance company offers it.
- Military discount – If you plan to go into the military right after school, why not ask about a military discount. Almost all insurance companies offer some military discount for anyone who is either active or inactive duty.
- Civic Society discount – Some insurance companies offer discounts for being involved in a civic organization.
- Government employee discount –If you work in any job that is considered a local, state, or federal government position, you may qualify for a discount in this area. Teachers, police officers, and firemen are some examples. Ask your insurance company when you apply.
- Telematics program discount – Many insurance providers offer discounts for drivers who sign up for their telematics program. However, you must allow your insurer to put a small device in your car to monitor your driving habits.
- Bundling discount-Insurance providers may provide lower rates if purchase other types of coverage from them.
Read more: Compare Professional Teacher Car Insurance Rates
Which insurance provider has the best insurance for college graduates?
In the end, you need to focus on finding the best insurance company for you and your needs. Always balance the amount you are going to pay out in premiums each month with the amount of risk you take on an average basis.
If you drive daily, for example, and drive a long way to work, your risk will be substantially greater than if you work at home.
If you carpool with other people, your risk may be higher since you are carrying other passengers with you, but lower because you will sometimes not be driving.
Think about your normal routine and how much in harm’s way you and your car will be and base your choice of insurance on the level of risk.
Think about your driving habits. Are you easily distracted? Do you have to drive through busy traffic on an almost daily basis? If you have to drive through busy traffic in the city during rush hour, your risk goes up more.
Distance traveled is a key factor in an insurance company’s decision on what to charge you, as is your driving record, age, and job status.
Everything counts when it comes to figuring your premium. From how frequently you drive to where you park your vehicle, insurance companies take into account a variety of factors to determine monthly premiums. College graduates typically pay higher premiums because of their age group, because to insurance carriers age indicates your driving experience. Experienced drivers are less likely to get into a car accident or file a compensation claim. Other factors that affect insurance for college graduates include driving record, place of residence, and credit score.
So the best thing you can do is to be a good driver, be a good citizen, and drive defensively.
Shop and Compare to Find the Best Rates
When you are shopping for your car insurance, look for the insurance company that is going to give you the attention to detail that you need and explain the fine print.
It’s not enough to just get a good car insurance policy. Find someone who will answer your questions and who will take the time to get to know your situation.
Then choose based on your individual budget and needs. Remember the only thing worse than too little insurance is no insurance. Don’t risk the huge fines and other legal and financial risks associated with driving without insurance.
Enter your ZIP code below to compare car insurance rates from top companies in your area!
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Enter your ZIP code below to view companies that have cheap car insurance rates.
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Case Studies: Navigating Car Insurance for Drivers With College Degree
Case Study 1: Alex’s Savings Journey With State Farm
Alex, a recent college graduate with student loans, embarked on a quest for budget-friendly car insurance. State Farm’s competitive rates and educational discounts, offering up to 10% savings, played a pivotal role in shaping Alex’s journey toward affordable excellence. The combination of good student incentives and financial stability made State Farm the optimal choice for Alex’s post-graduation budget.
Case Study 2: Military Service and Premium Affordability With USAA
Meet Sarah, a college graduate commencing her military career. Dive into the narrative that explores how USAA, with its exclusive benefits for military members, provided exceptional coverage tailored to Sarah’s unique needs. This unfolds the exceptional affordability of USAA, showcasing unmatched rates at $85 for full coverage and $32 for minimum coverage. Experience the seamless customer service that sets USAA apart, making it the go-to choice for military members like Sarah.
Case Study 3: Progressive Solutions for Lisa’s Comprehensive Coverage
Lisa, a diligent college graduate entering the professional world, sought a perfect balance between comprehensive coverage and affordability. Join us in exploring how Progressive’s loyalty rewards, offering up to 30% savings, and diverse coverage options became the key factors influencing Lisa’s decision-making process. This delves into the intersection of affordability and comprehensive protection, showcasing how Progressive caters to the evolving needs of college graduates like Lisa.
Frequently Asked Questions
How can having a college degree impact car insurance rates?
Some insurance providers offer educational discounts for drivers with a college degree, potentially leading to lower premiums. Companies like State Farm, USAA, and Progressive provide specific discounts for college graduates.
What discounts are available for college graduates when it comes to car insurance?
Drivers with a college degree may be eligible for various discounts, such as good student discounts, alumni discounts, and educational discounts. For example, State Farm offers up to 10% educational discount.
Are there specific coverage options that cater to the needs of drivers with a college degree?
Yes, insurance providers often offer coverage options that align with the preferences and lifestyles of college-educated drivers. For instance, companies like Progressive emphasize loyalty rewards, while USAA tailors coverage to meet the unique needs of military members, often including college graduates.
How does credit score, mileage, and driving record impact car insurance rates as a college graduate?
As a college graduate, factors like credit score, mileage, and driving record continue to play a crucial role in determining insurance rates. Maintaining a good credit score, low mileage, and a clean driving record can contribute to more favorable rates.
What should you consider when comparing car insurance rates for drivers with a college degree?
When comparing rates, focus on factors like the educational discount offered, safe driver incentives, and any additional perks. State Farm, USAA, and Progressive, being among the top choices, provide competitive rates and benefits for drivers with a college degree.
Free Car Insurance Comparison
Enter your ZIP code below to view companies that have cheap car insurance rates.
Secured with SHA-256 Encryption
Michael Vereecke
Commercial Lines Coverage Specialist
Michael Vereecke is the president of Customers First Insurance Group. He has been a licensed insurance agent for over 13 years. He also carries a Commercial Lines Coverage Specialist (CLCS) Designation, providing him the expertise to spot holes in businesses’ coverage. Since 2009, he has worked with many insurance providers, giving him unique insight into the insurance market, differences in ...
Commercial Lines Coverage Specialist
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
