Car Insurance Rates For Students

Car insurance rates for students tend to be high, but if you're away at school, you may be driving less, which may lower your rates. Discounts could save you as much as $350 a year.

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A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Written by Laura Berry
Former Insurance Agent Laura Berry

Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP® Joel Ohman

UPDATED: May 5, 2022

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Here's what you need to know...

  • Usually most of a student’s time during the school year is devoted to studies
  • Since students do not usually drive as much as other adults, they are considered low-risk clients
  • If you’re a college student, take comfort in the fact that there few occupations have lower average car insurance rates than you
  • Discounts for students away at college could be as much as $350 a year

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.

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.

Enter your ZIP code now to find insurance rates for students.

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 mindset 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.

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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.

Compare car insurance rates online by entering your ZIP code into the FREE box now.



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Enter your ZIP code below to view companies that have cheap car insurance rates.

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