The vehicle needing coverage is one of the largest factors when comparing quotes for the most affordable insurance for college graduates. Vehicles with more horsepower, poor passenger safety features, or a high likelihood of having liability claims will cost substantially more to insure than safer models.
The data below showcases auto insurance prices for a handful of the most cost-effective vehicles to buy insurance for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 4WD | $1,159 |
| Dodge Grand Caravan CV | $1,167 |
| Ford Escape Limited 2WD | $1,159 |
| Hyundai Elantra GLS Touring Station Wagon | $1,168 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,221 |
| Toyota RAV4 4WD | $1,226 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,262 |
| Ford Focus SES 4-Dr Sedan | $1,265 |
| Honda Civic LX 4-Dr Sedan | $1,275 |
| Ford Edge SE 2WD | $1,285 |
| Chevrolet Impala LTZ | $1,290 |
| Toyota Camry XLE | $1,299 |
| Toyota Prius | $1,295 |
| Nissan Rogue S AWD | $1,311 |
| Ford Fusion SE 4-Dr Sedan | $1,313 |
| GMC Sierra SLT Crew Cab 2WD | $1,320 |
| Jeep Grand Cherokee SRT-8 4WD | $1,313 |
| Ford F-150 XL Regular Cab 4WD | $1,315 |
| Chevrolet Silverado LS Regular Cab 2WD | $1,331 |
| Chevrolet Malibu LS | $1,379 |
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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 multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Prices do not factor in specific garaging location which can increase or decrease premiums noticeably.
Based upon the rates shown, you can infer that cars like the Honda CR-V, Dodge Grand Caravan, Ford Escape, and Hyundai Elantra should be some of the less-costly vehicles to insure for college grads.
Locating low-cost car insurance is easier said than done, and finding out which company has the best car insurance rates for college graduates calls for even more diligence. Each insurance company uses a slightly different approach for determining prices, so let’s begin by examining the car insurance companies that tend to be cheaper in San Antonio, TX.
It’s a good idea to know that San Antonio car insurance rates are impacted by many factors which can significantly increase or decrease the price of your policy. Improving your credit rating, marrying your spouse, or getting caught speeding may generate price changes resulting in some companies being way too expensive in comparison to the competition.
Cheapest Insurance Rates for Grads
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,010 |
| 2 | USAA | $1,095 |
| 3 | Texas Farm Bureau | $1,199 |
| 4 | Germania Mutual | $1,282 |
| 5 | Esurance | $1,379 |
| 6 | California Casualty | $1,382 |
| 7 | State Farm | $1,495 |
| 8 | Mercury | $1,506 |
| 9 | Safe Auto | $1,565 |
| 10 | Nationwide | $1,600 |
| 11 | Allstate | $1,650 |
| 12 | Progressive | $1,715 |
| 13 | Amica | $1,723 |
| 14 | GEICO | $2,135 |
| 15 | Home State | $2,155 |
| 16 | MetLife | $2,227 |
| 17 | Encompass | $2,232 |
| 18 | Unitrin | $2,264 |
| 19 | 21st Century | $2,494 |
| 20 | Titan | $2,594 |
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Travelers offers some of the cheapest car insurance rates in San Antonio at around $1,010 each year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also make the cut as some of the most economical San Antonio, TX auto insurance companies.
As depicted above, if you currently buy coverage from Germania Mutual and switched to Travelers, you could realize an annual premium reduction of about $272. Customers with Esurance may save as much as $369 a year, and California Casualty customers might realize rate reductions of up to $372 a year.
These rates are averaged across all types of insureds and vehicles and do not factor in a specific zip code for college graduates. So the company that fits your age and vehicle best may not even be in the top 23 companies shown above. That is why you need to compare prices as often as possible using your own individual information.
For college grads, one of the largest criteria that aid in calculating the amount you pay each year for auto insurance is the neighborhood you call home. Regions with larger populations or more claims will most likely have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower prices.
The table below shows the priciest cities in Texas for college graduates to purchase auto insurance in. San Antonio ranks #12 having an annual price of $1,722 for the average policy, which is approximately $144 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | McAllen | $1,956 |
| 2 | Dallas | $1,893 |
| 3 | Houston | $1,853 |
| 4 | Brownsville | $1,851 |
| 5 | Laredo | $1,851 |
| 6 | Garland | $1,832 |
| 7 | Mesquite | $1,825 |
| 8 | Pasadena | $1,812 |
| 9 | Grand Prairie | $1,811 |
| 10 | Amarillo | $1,786 |
| 11 | Irving | $1,736 |
| 12 | San Antonio | $1,722 |
| 13 | Lubbock | $1,716 |
| 14 | Beaumont | $1,702 |
| 15 | Arlington | $1,692 |
| 16 | Austin | $1,676 |
| 17 | Fort Worth | $1,653 |
| 18 | Carrollton | $1,598 |
| 19 | Waco | $1,584 |
| 20 | McKinney | $1,577 |
| 21 | Corpus Christi | $1,572 |
| 22 | El Paso | $1,568 |
| 23 | Abilene | $1,561 |
| 24 | Plano | $1,560 |
| 25 | Killeen | $1,518 |
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Premium amounts are comparative as the vehicle garaging location can influence rates noticeably.
The diagram below shows how choosing a deductible can change insurance rates when researching cheap insurance for college graduates. The rate quotes are based on a married female driver, comprehensive and collision coverage, and no additional discounts are factored in.
The data above shows that a 50-year-old driver could lower their policy premium by $260 a year by switching from a $100 deductible up to a $500 deductible, or save $394 by switching to a $1,000 deductible. Young drivers, such as the Age 20 example, could shave $646 or more by choosing larger deductibles on their policy. When choosing a higher deductible, it is necessary to have plenty of savings on hand to satisfy the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Liability rates compared to full coverage
Reducing the cost of car insurance is important to most drivers, and a good way to buy cheaper insurance for college graduates is to not insure for full coverage. The example below illustrates the comparison of premium costs with full physical damage coverage and with liability coverage only. The data assumes no tickets, no at-fault accidents, $1,000 deductibles, drivers are not married, and no policy discounts are applied.
If averaged out across all ages, comp and collision coverage costs $1,598 per year more than buying just liability insurance. That touches on the question if buying full coverage is worth the expense. There isn’t a steadfast formula to exclude comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.
For example, let’s assume your vehicle’s claim settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $5,000 after the policy deductible has been paid. If you are paying more than $500 annually for physical damage coverage, the it may be a good time to stop paying for full coverage.
Buying coverage from a good quality insurer can be difficult considering how many companies sell insurance in San Antonio. The company information in the lists below may help you pick which insurers you want to consider when buying insurance for college graduates.
These ratings are only comprised of the companies with a significant amount of written premium nationwide, so smaller companies will not be included in these rankings. If you wish to compare rates from these companies and more, just click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| Travelers | 93 | 98 | 99 | 88% | A++ | 95.1 |
| USAA | 83 | 99 | 100 | 91% | A++ | 94.1 |
| Mercury Insurance | 97 | 96 | 88 | 89% | A+ | 93.4 |
| AAA Insurance | 91 | 95 | 92 | 90% | A | 93.3 |
| Nationwide | 85 | 95 | 97 | 89% | A+ | 92.4 |
| Allstate | 77 | 100 | 97 | 88% | A+ | 90.7 |
| State Farm | 80 | 94 | 96 | 88% | A++ | 90.6 |
| The Hartford | 88 | 93 | 91 | 87% | A+ | 90.4 |
| Safeco Insurance | 91 | 95 | 85 | 88% | A | 90.2 |
| Progressive | 88 | 94 | 83 | 88% | A+ | 90.1 |
| American Family | 91 | 86 | 95 | 83% | A | 89.7 |
| Esurance | 86 | 90 | 94 | 90% | A+ | 89.5 |
| The General | 86 | 93 | 89 | 84% | A- | 88.2 |
| GEICO | 79 | 89 | 95 | 87% | A++ | 87.8 |
| Titan Insurance | 86 | 82 | 92 | 86% | A+ | 86.5 |
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Data Source: Insure.com Best Car Insurance Companies
How to find cheaper auto insurance for college graduates
Here are some penny-pinching solutions that can help Texas drivers get cheaper auto insurance.
- Buying car and homeowners insurance together can save money
- Raise physical damage deductibles
- Pay for smaller claims out-of-pocket
- Safer vehicles generally have cheaper insurance rates
- Better credit scores save money
- Save money by only buying liability coverage for older vehicles
- Compare rate quotes frequently
That last tip is certainly crucial, as was pointed out in this write-up. Prices charged by auto insurers can be modified anytime, so you should be ready to buy a different policy if you can find a cheaper rate.
Staying with the same company for years is fine, but it isn’t a good idea if that faithfulness ends up costing you hundreds every year. Now is a great time to shop around to find cheaper auto insurance for college graduates in San Antonio.