The words “low-cost” and “auto insurance” really shouldn’t be used together, especially when trying to find the best price on coverage for college graduates. Because it’s not cheap, let’s go over a few of the factors that have an effect on car insurance premiums, and find out if you can lower the price of the next policy you buy.
The vehicle you are insuring is one of the main factors when comparing quotes for the best auto insurance for college graduates. Vehicles with high performance engines, poor passenger safety features, or a track record of large liability claims will cost more to insure than more modest models. The next table ranks auto insurance rates for some of the cheapest automobiles to insure.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 4WD | $1,052 |
| Honda Accord LX-P 4-Dr Sedan | $1,059 |
| Ford F-150 XL Regular Cab 2WD | $1,091 |
| Toyota Camry LE | $1,245 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,287 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $1,297 |
| Ford Escape XLT 2WD | $1,289 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,305 |
| Toyota Corolla LE | $1,310 |
| Honda Odyssey EX-L | $1,320 |
| Toyota Prius | $1,333 |
| Nissan Altima Hybrid 4-Dr Sedan | $1,338 |
| Dodge Grand Caravan CV | $1,352 |
| Ford F-350 XL Crew Cab Turbo Diesel 2WD | $1,382 |
| Ford Edge Limited 2WD | $1,401 |
| Chevrolet Silverado LS Regular Cab 4WD | $1,415 |
| Hyundai Sonata Limited 4-Dr Sedan | $1,422 |
| Toyota RAV4 Sport 2WD | $1,426 |
| Dodge Ram 2500 Crew Cab SLT 4WD | $1,445 |
| Toyota Tacoma Double Cab 4WD | $1,454 |
| Compare Cheap Rates Go | |
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, safe-driver, and multi-policy. Information does not factor in specific garaging location which can increase or decrease coverage rates greatly.
By looking at the data, cars like the Honda CR-V, Honda Accord, and Ford F-150 are a few of the more affordable vehicles to insure for college grads.
Shopping around for low-priced car insurance is tough enough, and finding out which companies quote the best auto insurance rates for college graduates calls for even more perseverance.
Each auto insurance company has a unique formula for setting prices, so let’s begin by taking a look at the most budget-friendly auto insurance companies in California. It’s important that readers know that California auto insurance rates are impacted by many factors that control the cost of coverage. This price variability is why drivers need to perform a complete rate comparison when trying to get the most budget-friendly insurance quotes for college graduates. Insurance rates can be altered by many risk factors and can decrease or increase without notice, so the most economical company the last time you compared rates may now be costing you a lot of money.
Find the Cheapest Auto Insurance for Grads
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Wawanesa | $1,146 |
| 2 | USAA | $1,155 |
| 3 | Century National | $1,178 |
| 4 | Nationwide | $1,213 |
| 5 | CSAA | $1,222 |
| 6 | 21st Century | $1,325 |
| 7 | Grange | $1,477 |
| 8 | Mercury | $1,503 |
| 9 | Allstate | $1,513 |
| 10 | Progressive | $1,542 |
| 11 | Allied | $1,556 |
| 12 | GEICO | $1,575 |
| 13 | The Hartford | $1,591 |
| 14 | MetLife | $1,606 |
| 15 | State Farm | $1,733 |
| 16 | Esurance | $1,739 |
| 17 | Unitrin | $1,750 |
| 18 | Bristol West | $1,849 |
| 19 | Travelers | $1,860 |
| 20 | Farmers | $1,946 |
| Compare Rates Now Go | ||
Wawanesa has some of the cheapest car insurance rates in Fresno at around $1,146 per year. This is $505 less than the average premium paid by California drivers of $1,651. USAA, Century National, Nationwide, and CSAA are also some of the lowest-priced Fresno, CA insurance companies.
In the rate table above, if you currently buy coverage from Nationwide and switched to USAA, you could earn a yearly price reduction of around $58. Policyholders with CSAA could save as much as $67 a year, and 21st Century insureds might reduce rates by $170 a year.
If you want to find out if you’re overpaying, click here to get a free quote or quote prices from the following companies.
Be aware that those estimates are averages across all drivers and vehicles and and are not calculated with an exact zip code location for college graduates. So the car insurance company that can offer the best rates for your situation may not even be in the top 24 companies in the list above. That is why you need to compare prices as often as possible using your own driver and vehicle profiles.
Drive responsibly or pay higher rates
One of the best ways to obtain the cheapest auto insurance rates for college grads is to be an attentive driver and maintain a clean driving record. The illustration below highlights how speeding tickets and accident claims can drive up auto insurance costs for different age categories. The rates are based on a married male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are factored in.
In the chart above, the average cost of a car insurance policy per year with no accidents or violations is $1,768. Get written up for two speeding tickets and the average cost hikes up to $2,437, an increase of $669 each year. Now throw in two accidents along with the two speeding tickets and the 12-month cost of auto insurance for college graduates jumps again to an average of $5,042. That’s an increase of $3,274, or $273 per month, just for not being more responsible behind the wheel!
The illustration below shows how choosing a deductible can impact insurance costs when researching cheap insurance for college graduates. The rate quotes are based on a single female driver, comp and collision included, and no discounts are applied.
The chart above illustrates that a 40-year-old driver could save $350 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $530 by choosing a $1,000 deductible. Youthful drivers, such as the 20-year-old chart data, could shave up to $888 annually by using a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it will now be necessary to have additional funds in a savings account to enable you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Comparison of full coverage and liability-only policies
Buying cheaper auto insurance should be important to the majority of vehicle owners, and one of the best ways to pay less for insurance for college graduates is to only buy liability insurance. The example below shows the difference between car insurance rates with full physical damage coverage and with liability coverage only. The information is based on a clean driving record, no claims, $100 deductibles, drivers are not married, and no discounts are taken into consideration.
Averaged out for all age groups, physical damage coverage costs $3,444 per year over liability only. That is a big expense that brings up the question when is it a good idea to stop buying full coverage. There is no exact formula for eliminating physical damage coverage, but there is a general guideline. If the yearly cost of full coverage is 10% or more of the settlement you would receive from your company, then you may need to consider dropping full coverage.
For example, let’s say your vehicle’s settlement value is $10,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $9,000 after paying the physical damage deductible. If you are paying over $900 annually for full coverage, then it could be time to drop full coverage.
The professional agents shown below are a good start to help you make a decision which coverage meets your needs best, since some people prefer to have the advice of a professional agent when comparing insurance rates for college graduates. It can be time-consuming to find the cheapest rate yourself, so a licensed agent can provide you satisfaction knowing you have sufficient coverage at claim time.
To find a Fresno insurance agent near you, click the button at the bottom.
- New Horizon Insurance
3039 W Ashlan Ave – Fresno, CA 93726 – (559) 244-6644 - Danny Armenta – State Farm Insurance Agent
6105 E Kings Canyon Rd Ste 108 – Fresno, CA 93727 – (559) 453-1554 - Nationwide Insurance: Maffei Ins and Fin Services
5633 W Figarden Dr Ste 104 – Fresno, CA 93722 – (559) 322-3355 - Mark Headrick State Farm®
1020 E Perrin Ave #101 – Fresno, CA 93720 – (559) 433-3733