The words "bargain" and "insurance" probably shouldn't be used together, especially when searching for the best car insurance rates for college students. In an attempt to save some money, let's learn about some of the factors that have an impact on insurance premiums, and come up with some ideas to take a little off the next policy you buy.
For students in college, one of the big things that are used to help calculate insurance cost is where you keep your vehicle in San Antonio. Areas with more people or more claims will most likely have higher rates, whereas areas with lower crime rates and fewer weather claims tend to receive cheaper rates.
The illustration below rates the highest-priced places in Texas for college students to buy car insurance in. San Antonio makes the list at #12 with an annual premium of $1,739 for the average insured, which is around $145 each month.
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Rate information is estimated as the specific San Antonio residence address can influence price quotes considerably.
The vehicle model requiring insurance is one of the main factors when quoting the cheapest coverage for college students. Vehicles with lower performance, excellent safety ratings, or a track record of few liability claims will cost quite a bit less to insure than fast, unsafe models.
The next list showcases auto insurance prices for the most affordable automobiles to buy coverage for.
|Insured Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$2,321|
|Ford Escape Limited 2WD||$2,327|
|Honda Accord EX-L 4-Dr Sedan||$2,470|
|Jeep Wrangler Sahara 4WD 2-Dr||$2,564|
|Dodge Grand Caravan CV||$2,569|
|Volkswagen Jetta 2.0T Station Wagon||$2,650|
|Ford Edge SE AWD||$2,680|
|Honda Odyssey EX||$2,686|
|Ford Focus S 4-Dr Sedan||$2,680|
|Chevrolet Equinox LT 2WD||$2,713|
|Chevrolet Malibu Hybrid||$2,718|
|Chevrolet Impala LT||$2,713|
|Toyota RAV4 Limited 4WD||$2,719|
|Ford Explorer Limited 4WD||$2,747|
|Ford F-150 Lariat Crew Cab 4WD||$2,757|
|Dodge Ram 3500 Crew Cab Laramie 2WD||$2,747|
|Ford F-350 XL Super Cab 2WD||$2,782|
|Honda Civic EX 4-Dr Sedan||$2,826|
|Toyota Tacoma X-Runner 2WD||$2,858|
|Toyota Corolla S||$2,863|
|Toyota Camry XLE||$2,858|
|Hyundai Elantra GLS 4-Dr Sedan||$2,868|
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Data based on single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, and safe-driver. Price estimates do not factor in specific location information which can raise or lower premiums considerably.
Looking at the numbers, you can presume that cars like the Honda CR-V, Ford Escape, and Honda Accord will be a few of the most economical vehicles to insure for students in college. The price for an auto insurance policy will be higher anyway just due to the fact that there is more risk for college students, but in general those vehicles will probably have the lowest insurance rates that you are likely to find.
Do you need full coverage?
Paying a lower price for insurance is probably important to most drivers, and one great way to save on the cost of insurance for college students is to not buy full coverage. The illustration below visualizes the comparison of insurance prices with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on no claims or violations, $100 deductibles, marital status is single, and no other discounts are factored in.
As an average, physical damage insurance costs $2,181 per year more than carrying just liability coverage. That is a significant amount which raises the question if you should buy full coverage. There is no exact formula to stop paying for physical damage insurance, but there is a general convention. If the annual cost of coverage is more than 10% of the replacement cost minus the deductible, then it's probably a good time to buy liability coverage only.
There are some situations where eliminating full coverage is not a good plan. If you still owe money on your vehicle, you are required to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if you don't have enough money to buy a different vehicle if your current one is damaged, you should not remove full coverage.
Irresponsible driving raises your rates
The best way to snag the best insurance rates for students in college is to drive attentively and maintain a clean driving record. The information below highlights how speeding tickets and at-fault accidents can impact insurance prices for different age groups. The price estimates are based on a single female driver, full physical damage coverage, $250 deductibles, and no discounts are applied.
The data charted above shows the average cost of a car insurance policy in Texas per year with no violations or accidents is $1,899. Get written up for one speeding ticket and the average cost jumps to $2,152, an increase of $253 each year. Then include one accident along with the one speeding ticket and the 12-month cost of insurance for college students jumps again to an average of $2,859. That's an increase of $960, or $80 per month, just for not being a responsible driver!
Ideas for buying the cheapest auto insurance for college students
It is possible to find better rates, and here are some money-saving suggestions that can help drivers buy cheap coverage.
- Prevent price hikes by avoiding at-fault accidents
- Do not file small claims
- Safe vehicles generally have lower rates
- Be a safe driver
- Good credit scores may make rates cheaper
- Shop your coverage around for the best deal
The last item on the list is particularly significant, as we pointed out in this write-up. Prices change constantly, so drivers shouldn't be resistant to buy from a new company if a cheaper rate is available. Many drivers tend to have loyalty to a certain company, but we do not recommend it if that faithfulness ends up costing you hundreds every year. Now is a great time to compare prices to find cheaper insurance for college students in San Antonio.
If you aren't sure which coverage you need and prefer to get some professional advice when buying car insurance for college students, the professional agents shown below are a good start to help you make a decision which coverages you need.
To find an auto insurance agency using an interactive map, click the button link following the list.
Affordable Health Insurance Agency, LLC
7330 San Pedro Ave #150 - San Antonio, TX 78216 - (210) 738-3537
Donnie Britt - State Farm Insurance Agent
6324 NW Loop 410 - San Antonio, TX 78238 - (210) 647-1174
State Farm: John Pitre
825 W Bitters Rd #105 - San Antonio, TX 78216 - (210) 514-1083
Art Manzano - State Farm Insurance Agent
1255 SW Loop 410 Ste 135 - San Antonio, TX 78227 - (210) 670-0000
Lisa Ybarbo - State Farm Insurance Agent
803 Castroville Rd #128 - San Antonio, TX 78237 - (210) 434-2711