The words “low-priced” and “auto insurance” really shouldn’t be used together, specifically when searching for the cheapest car insurance for college graduates. To help control this cost, let’s lead off by showing you some situations the can have a considerable influence on insurance premiums, and find out if you can take the bite out of your next policy.
For college grads, one of the more important criteria that are used to help calculate auto insurance rates is where you live. Regions with more people or even just more weather-related claims tend to pay slightly more, whereas areas with less congestion can boast about having cheaper rates.
The following table shows the most expensive cities in Texas for college graduates to buy an auto insurance policy in. Arlington ranks #17 with an annual rate of $1,642 for coverage, which is around $137 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | McAllen | $2,016 |
| 2 | Dallas | $1,893 |
| 3 | Laredo | $1,889 |
| 4 | Houston | $1,853 |
| 5 | Brownsville | $1,851 |
| 6 | Garland | $1,832 |
| 7 | Amarillo | $1,804 |
| 8 | Grand Prairie | $1,793 |
| 9 | Mesquite | $1,771 |
| 10 | Pasadena | $1,740 |
| 11 | Irving | $1,736 |
| 12 | Lubbock | $1,733 |
| 13 | Beaumont | $1,702 |
| 14 | San Antonio | $1,688 |
| 15 | Fort Worth | $1,670 |
| 16 | Carrollton | $1,647 |
| 17 | Arlington | $1,642 |
| 18 | Austin | $1,627 |
| 19 | McKinney | $1,625 |
| 20 | El Paso | $1,616 |
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Table data uses comparative as the specific area where the vehicle is garaged can revise insurance rates substantially.
The make and model of vehicle you are trying to insure is one of the largest considerations when consumers are trying to find the cheapest auto insurance for college graduates. Vehicles with average performance, good safety features, or a positive history of liability claims will cost much less to insure than fast, unsafe models.
The next list presents car insurance prices for some of the most economical automobiles to buy insurance for.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $958 |
| Ford Escape XLS 2WD | $1,051 |
| Dodge Grand Caravan CV | $1,073 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,081 |
| Hyundai Elantra GLS Touring Station Wagon | $1,079 |
| Ford Focus SE 4-Dr Sedan | $1,113 |
| Chevrolet Malibu LS | $1,135 |
| Ford Fusion S 4-Dr Sedan | $1,142 |
| Chevrolet Equinox LT 2WD | $1,135 |
| Ford F-150 FX4 4WD | $1,154 |
| Chevrolet Impala LTZ | $1,194 |
| Toyota Corolla LE | $1,203 |
| Toyota Prius | $1,196 |
| Volkswagen Jetta SEL 4-Dr Sedan | $1,214 |
| Honda Odyssey Touring | $1,219 |
| GMC Sierra SL Extended Cab 2WD | $1,243 |
| Jeep Grand Cherokee Laredo 2WD | $1,251 |
| Toyota RAV4 Limited 4WD | $1,243 |
| Ford Edge SEL 2WD | $1,249 |
| Ford Explorer Eddie Bauer AWD | $1,267 |
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Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Rate quotes do not factor in the specific area where the vehicle is garaged which can raise or lower coverage prices considerably.
Based upon the table data, we can assume that cars like the Honda CR-V, Ford Escape, Dodge Grand Caravan, Jeep Wrangler, and Hyundai Elantra will be some of the more affordable vehicles to insure for college grads.
Full coverage rates compared to liability only
Buying cheaper car insurance is probably important to most vehicle owners, and one of the quickest ways to lower the cost of insurance for college graduates is to not insure for full coverage. The diagram below visualizes the comparison of annual premium costs with full physical damage coverage compared to only buying liability only. The price estimates are based on no claims or violations, $500 deductibles, marital status is single, and no discounts are factored in.
If we average the cost for all age groups, physical damage coverage on your policy costs $1,793 per year more than just buying liability only. That proposes the question when is the right time to remove full coverage. There is no set guideline of when to phase out physical damage insurance, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then it may be the right time to buy liability only.
For example, let’s assume your vehicle’s book value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $3,000 after the policy deductible has been paid. If it’s costing in excess of $300 a year for your policy with full coverage, then it could be time to drop full coverage.
Get discount Arlington auto insurance
Auto insurance companies that offer cheap quotes for college graduates may have price discounts that can reduce rates by 30% or more if you qualify. Companies and the discounts they provide are shown below.
- 21st Century includes discounts for driver training, good student, 55 and older, defensive driver, anti-lock brakes, theft prevention, and teen driver.
- State Farm offers premium reductions for student away at school, driver’s education, multiple policy, anti-theft, accident-free, and Steer Clear safe driver discount.
- AAA has savings for education and occupation, good driver, multi-car, multi-policy, and AAA membership discount.
- Liberty Mutual may include discounts for good student, newly retired, multi-car, preferred payment discount, new graduate, and multi-policy.
- Progressive may offer discounts for continuous coverage, multi-policy, homeowner, online quote discount, and multi-vehicle.
The information below shows the difference between insurance prices with and without discounts applied to the premium. The rates are based on a female driver, no accidents, no driving violations, Texas state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second bar shows the rates with vehicle safety, claim-free, passive restraint, defensive driving course, anti-theft, and multiple policy discounts applied. When drivers qualify for the discounts, theamount saved on car insurance for college graduates is 28% or $570.
How to find the cheapest insurance for college graduates
The list below shows some thrifty suggestions that can help you find cheap coverage.
- Raise comprehensive and collision coverage deductibles
- Just one traffic violation will increase your rates
- Good credit can save money
- Staying accident-free helps keep rates low
- Safe vehicles generally have lower rates
- Keep rates low by shopping around frequently
The last item on the list is notably vital, as was stressed in the prior information. Coverage rates in Arlington can change in a short period of time, so don’t be tentative to buy a policy from a new company if a cheaper price is available.
Sticking with a specific company is fine, but it isn’t a good idea if that stubbornness costs you money that could be used for better things. Spend a few minutes and compare rates and find cheaper auto insurance for college graduates.
If you prefer to get some guidance when trying to find the best insurance rates for college graduates, the insurance agencies listed below can help you determine which coverage fits your budget. To locate an Arlington insurance agent by location nearest to you, click the link after the list or click here to compare rates now.
- Nationwide Insurance: Comparable Insurance Agency Inc
1700 E Pioneer Pkwy Ste 190 – Arlington, TX 76010 – (817) 460-8899 - Surefire Insurance Agency
2300 W Division St Suite 150 – Arlington, TX 76012 – (817) 459-0005 - Allstate Insurance: Gary Tongate
1814 N Cooper St – Arlington, TX 76011 – (817) 861-3422