Compare Student Driver Car Insurance Rates in 2024 (Top 10 Companies)
Compare best companies for student driver car insurance rates like State Farm, Progressive, and Allstate. Consider factors such as credit score, mileage, coverage, and driving record. This guide facilitates informed and cost-effective decisions regarding student driver car insurance rates.
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Zach Fagiano
Insurance & Finance Analyst
Zach Fagiano has been in the insurance industry for over 10 years, specializing in property and casualty and risk management consulting. He started out specializing in small businesses and moved up to large commercial real estate risks. During that time, he acquired property & casualty, life & health, and surplus lines brokers licenses. He’s now the Senior Vice President overseeing globa...
Insurance & Finance Analyst
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.
On This Page
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Pros & Cons
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Compare best companies for student driver car insurance rates with State Farm, Progressive, and Allstate by analyzing credit score, mileage, coverage level, and driving record. Understand how these factors affect rates to confidently navigate the road.
There are many factors that determine student car insurance rates. Many students would be surprised to learn that they won’t be charged as much for insurance as they thought.
Company | Rank | See Pros/Cons | Student Driver Discount | Good Student Discount | Best for |
---|---|---|---|---|---|
#1 | State Farm | Up to 10% | Up to 25% | Good-Student Discounts | |
#2 | Progressive | Up to 12% | Up to 20% | Multi-Policy Discounts | |
#3 | Allstate | Up to 15% | Up to 20% | Personalized Coverage | |
#4 | Liberty Mutual | Up to 8% | Up to 15% | Customizable Coverage | |
#5 | Nationwide | Up to 10% | Up to 20% | Vanishing Deductible | |
#6 | Farmers | Up to 9% | Up to 15% | Safe-Driving Discounts | |
#7 | American Family | Up to 10% | Up to 20% | Bundle Discounts | |
#8 | Travelers | Up to 11% | Up to 20% | Add-on Coverages | |
#9 | Erie | Up to 8% | Up to 15% | Student Savings | |
#10 | Esurance | Up to 10% | Up to 20% | Online Convenience |
In fact, in a recent ranking of car insurance rates by occupation, students came in with the ninth-lowest rate among more than 60 occupations.
A student refers to college students who either live at home and commute or who live on campus, not high school students.
High school students are classified as minors on their parents’ insurance policies.
Once a student graduates from high school and enters college, an insurance company views him or her as an adult.
#1 – State Farm: Student Savvy
State Farm stands out as the top choice for student drivers, offering competitive rates and a range of discounts, including a remarkable good student discount of up to 25%.
Brad Larson Licensed Insurance Agent
Pros
- Good-student discounts: State Farm offers attractive discounts for student drivers, making it an excellent choice for young drivers or families with students.
- Up to 25% good student discount: The maximum 25% discount for good students provides substantial savings for those with excellent academic performance.
- Reputation: State Farm is a well-established and reputable insurance provider, known for its customer service and wide range of coverage options.
Cons
- Limited customization: While they offer good student discounts, the overall customization options for coverage may be comparatively limited.
- Pricing: Depending on individual circumstances, State Farm’s premiums may not always be the most competitive in the market.
Read more: State Farm Car Insurance Review
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#2 – Progressive: Policy Diverse
Pros
- Multi-policy discounts: Progressive is a great choice for those looking to bundle multiple insurance policies, as they offer discounts for combining auto and other policies.
- Up to 12% student driver discount: Progressive provides a reasonable discount for student drivers.
- Innovation: Progressive is often praised for its innovative insurance solutions and technology-driven approach.
Cons
- Limited good student discount: The maximum 12% discount for student drivers may be less than what some other companies offer.
- Customer service: Some customers report mixed reviews regarding Progressive’s customer service, citing occasional issues.
Read more: Progressive Car Insurance Review
#3 – Allstate: Personalized Protection
Pros
- Personalized coverage: Allstate focuses on providing personalized coverage, allowing customers to tailor their policies to meet specific needs.
- Up to 15% student driver discount: Allstate offers a competitive discount for student drivers.
- Strong financial standing: Allstate’s solid financial standing contributes to the stability and reliability of the company.
Cons
- Cost: Allstate’s premiums may be relatively higher compared to some other insurers.
- Discount limitations: While they offer good student discounts, the maximum discount percentage may be lower than what some competitors provide.
Read more: Allstate Car Insurance Review
#4 – Liberty Mutual: Coverage Tailored
Pros
- Customizable coverage: Liberty Mutual stands out for its customizable coverage options, allowing customers to build policies that suit their unique needs.
- Up to 15% good student discount: The discount for good student drivers is a competitive incentive.
- Educational resources: Liberty Mutual provides educational resources and tools to help customers make informed decisions about their coverage.
Cons
- Slightly lower student discounts: The maximum student discount offered by Liberty Mutual is slightly lower than some competitors.
- Complexity: The customization options may be overwhelming for some customers, and the policy-building process may be perceived as complex.
Read more: Liberty Mutual Car Insurance Review
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#5 – Nationwide: Deductible Disappears
Pros
- Vanishing deductible: Nationwide’s vanishing deductible feature rewards safe driving by reducing deductibles over time.
- Up to 20% good student discount: Nationwide offers a generous discount for good student drivers.
- Wide range of coverage: Nationwide provides a variety of coverage options to meet diverse customer needs.
Cons
- Discount limitations: While they offer good student discounts, the maximum discount percentage may be lower than what some competitors provide.
- Claims process: Some customers have reported mixed experiences with Nationwide’s claims process, citing delays or difficulties.
#6 – Farmers: Road Safe
Pros
- Safe-driving discounts: Farmers is recognized for its emphasis on safe driving, offering discounts for drivers with good driving records.
- Up to 15% good student discount: The good student discount provides a significant incentive for families with students.
- Range of coverages: Farmers provides a variety of coverage options, allowing customers to tailor their policies to specific needs.
Cons
- Limited student driver discount: The maximum discount for student drivers may be lower compared to some competitors.
- Pricing: Farmers’ premiums may not always be the most competitive, depending on individual circumstances.
Read more: Farmers Car Insurance Review
#7 – American Family: Bundle Bliss
Pros
- Bundle discounts: American Family is well-regarded for its bundle discounts, making it an attractive option for customers looking to combine multiple insurance policies.
- Up to 20% good student discount: The high good student discount is a significant benefit for families with students.
- Customizable policies: American Family allows for a degree of customization in policies, catering to individual coverage needs.
Cons
- Regional availability: American Family’s services may not be available nationwide, limiting accessibility for some customers.
- Pricing: Similar to other insurers, the premiums at American Family may be perceived as relatively higher in some cases.
Read more: American Family Car Insurance Review
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#8 – Travelers: Coverage Plus
Pros
- Add-on coverages: Travelers stands out for its extensive range of add-on coverages, providing customers with the opportunity to enhance their policies.
- Up to 20% good student discount: The good student discount is competitive and provides substantial savings.
- Financial stability: Travelers is financially stable, offering reassurance to customers about the company’s ability to meet its obligations.
Cons
- Limited student driver discount: The maximum discount for student drivers may be lower compared to some competitors.
- Claims handling: Some customers have reported mixed experiences with Travelers’ claims handling, citing delays or difficulties.
Read more: Travelers Car Insurance Review
#9 – Erie: Smart Student Savings
Pros
- Student savings: Erie is specifically recognized for its focus on student savings, making it an appealing choice for families with student drivers.
- Up to 15% good student discount: The good student discount is a competitive incentive.
- Customer satisfaction: Erie often receives high marks for customer satisfaction, indicating positive experiences among policyholders.
Cons
- Limited student driver discount: The maximum discount for student drivers may be lower compared to some competitors.
- Regional availability: Erie’s services may not be available nationwide, limiting accessibility for some customers.
Read more: Erie Car Insurance Review
#10 – Esurance: Online Ease
Pros
- Online convenience: Esurance is known for its online convenience, providing an easy and efficient process for obtaining quotes and managing policies.
- Up to 20% good student discount: The high good student discount is a significant benefit for families with students.
- Competitive pricing: Esurance is often praised for its competitive pricing, making it an attractive option for budget-conscious customers.
Cons
- Limited personalized service: The online-focused approach may result in limited personalized service compared to traditional insurers.
- Coverage options: Some customers may find Esurance’s coverage options to be more standardized, with fewer customization choices compared to other providers.
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Exploring Cost Considerations: Average Monthly Car Insurance Rates for Student Drivers by Coverage Type
This table provides a comprehensive overview of the average monthly car insurance rates for student drivers, considering both full coverage and minimum coverage options.
Insurance Company | Full Coverage | Minimum Coverage |
---|---|---|
State Farm | $86 | $33 |
Progressive | $105 | $39 |
Allstate | $160 | $61 |
Liberty Mutual | $174 | $68 |
Nationwide | $115 | $44 |
Farmers | $139 | $44 |
American Family | $117 | $44 |
Travelers | $99 | $37 |
Erie | $58 | $22 |
Esurance | $114 | $46 |
For full coverage, Erie stands out as the most cost-effective option, offering a remarkably low monthly rate of $58, while Liberty Mutual presents the highest rate at $174. When considering minimum coverage, Erie maintains its affordability with a rate of $22 per month, while Liberty Mutual once again leads with the highest cost at $68.
State Farm consistently provides competitive rates for both full and minimum coverage, making it an appealing choice for student drivers seeking a balance between cost and comprehensive protection.
The data underscores the importance of careful consideration and comparison when selecting car insurance for student drivers, allowing individuals to make well-informed decisions based on their unique needs and budget constraints.
Can I get a student discount on car insurance?
Students drive less than other adults which means two things to the insurance company:
- Students spend less time driving for purposes of leisure activities which reduces the likelihood that you’ll be involved in a car accident due to reckless driving
- Students are given the benefit of the doubt in assuming that because you are in college, you have a more serious minds
- Enter your ZIP code now to find insurance rates for students.et than your working peers
Whether it’s true or not, it is generally assumed that students will be a lot less risky in their behavior in all areas. A driver who is less risky behind the wheel is also one who is less likely to file an accident claim.
Another part of the equation is the fact that student economics generally dictate that these types of individuals don’t have a lot of disposable income. Usually, students drive old, beaten up jalopies which are obviously less expensive to insure.
The idea of student economics and car insurance rates is as much a benefit to students as it is to insurance carriers.
Between the high cost of tuition, textbooks, and everything else a student is paying for, having lower insurance premiums is obviously a big benefit.
Students at Home
Student car insurance rates can be made even less expensive if a student lives at home and commutes a very short distance to school.
Furthermore, if he drives a parent’s car rather than owning his own, his insurance will be even less expensive.
One thing to remember is that states differ in how long a student can remain on his or her parent’s policy. Many have an age limit of 26.
In other words, as long as a person remains a college student he can stay on his parents policy up until his 26th birthday.
After that, the person will be required to purchase his own car insurance, whether he remains a student or enters the workforce.
Enjoy those lower rates while you can, because you may not have them forever.
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Case Studies in Car Insurance Discounts
Case Study 1: State Farm – Good-Student Discounts
Meet Sarah, a diligent student who secured a student driver discount of up to 10% and a remarkably good student discount of up to 25% with State Farm. Through her commitment to academics and responsible driving, Sarah maximized the potential savings offered by State Farm’s focus on rewarding good students.
Case Study 2: Progressive – Multi-Policy Discounts
John, a savvy insurance shopper, opted for Progressive and took advantage of their multi-policy discounts. By bundling his car insurance with another policy, John enjoyed savings of up to 12%, demonstrating how combining insurance needs can lead to financial benefits with Progressive.
Case Study 3: Allstate – Personalized Coverage
Emily, with a keen interest in tailoring her insurance coverage, found Allstate to be the perfect fit. With a student driver discount of up to 15% and a good student discount of up to 20%, Emily appreciated Allstate’s commitment to providing personalized coverage that met her specific needs and preferences.
Frequently Asked Questions
What is student driver car insurance?
Student driver car insurance is a type of auto insurance designed specifically for young drivers who are either learning to drive or have recently obtained their driver’s license. It provides coverage for the student driver’s vehicle and helps protect against potential risks and accidents on the road.
Why is car insurance more expensive for student drivers?
Car insurance tends to be more expensive for student drivers due to their lack of driving experience and higher likelihood of being involved in accidents. Statistically, young and inexperienced drivers are considered higher risk by insurance companies, leading to higher premiums. However, there are ways for student drivers to mitigate these costs.
What factors influence the cost of student driver car insurance?
Several factors influence the cost of student driver car insurance, including:
- Age: Younger drivers generally pay higher premiums.
- Driving experience: Lack of driving experience may result in higher rates.
- Type of vehicle: The make, model, and age of the vehicle can impact insurance costs.
- Location: Insurance rates may vary based on the location of the student driver’s residence.
- Academic performance: Some insurers offer discounts for good grades.
How can student drivers find affordable car insurance rates?
To find affordable car insurance rates as a student driver, consider the following tips:
- Compare quotes: Obtain quotes from multiple insurance providers to compare rates and coverage options.
- Take driver’s education courses: Completing a driver’s education course can often lead to lower premiums.
- Maintain good grades: Many insurers offer discounts for students who achieve good academic performance.
- Consider a safe vehicle: Choosing a safe and reliable vehicle can help lower insurance costs.
- Stay claims-free: Avoiding accidents and traffic violations can help keep insurance rates down.
Are there any specialized insurance programs for student drivers?
Some insurance companies offer specialized programs for student drivers, such as safe driving programs or usage-based insurance. These programs may involve installing a device in the vehicle that monitors driving habits and offers discounts based on safe driving behaviors. It’s worth exploring such programs to potentially reduce insurance costs for student drivers.
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Zach Fagiano
Insurance & Finance Analyst
Zach Fagiano has been in the insurance industry for over 10 years, specializing in property and casualty and risk management consulting. He started out specializing in small businesses and moved up to large commercial real estate risks. During that time, he acquired property & casualty, life & health, and surplus lines brokers licenses. He’s now the Senior Vice President overseeing globa...
Insurance & Finance Analyst
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.