Best Affordable Insurance for College Students
You can find the best auto insurance for college students when you stack your military discount with good student and good driving discounts. If you add a college student to an existing policy, you can qualify for multi-driver and multi-vehicle discounts too. So while teens and young drivers pay the most for auto insurance, you can get the most affordable auto insurance for college students by shopping around and comparing quotes and discounts.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Nov 27, 2023
It’s all about veterans. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help veterans make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with one auto insurance company and cannot guarantee quotes from any single company. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for veterans interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance-related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Nov 27, 2023
It’s all about veterans. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help veterans make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with one auto insurance company and cannot guarantee quotes from any single company. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- The best insurance for college students will offer multiple discounts for good grades, good driving, and alumni membership
- Geico offers the most affordable auto insurance for college students, with average rates at $388/mo
- State Farm offers the largest good student discount of 25%
You can find the best auto insurance for college students and teen drivers when you comparison shop online. As a veteran, you can combine military discounts with good student discounts to lower your auto insurance rates even more.
Student auto insurance is cheap when you apply all the auto insurance discounts for veterans you qualify for. Keep reading our guide to learn more about auto insurance student discounts and which companies offer cheap insurance for college students. We compare rates from these companies and more to help you find the most affordable auto insurance quotes in your area.
Affordable car insurance for college students is within your reach when you know where to look. Scroll down for a complete list of auto insurance companies that offer student driver discounts.
Which company offers the best auto insurance for college students?
Finding the best auto insurance for 18-year-olds will take a little research. Take advantage of our resources to make your decision.
Below you’ll find a list of auto insurance rates for students from the top companies. Each insurer offers a good student discount, and we’ve included the discount amount as well.
Auto Insurance Company Monthly Student Auto Insurance Rates Good Student Discount Amount
Geico $338 15%
USAA $425 3%
Nationwide $478 10%
State Farm $553 25%
Progressive $585 10%
AAA $792 14%
Allstate $872 20%
Travelers $879 8%
Liberty Mutual $1,228 20%
The Hartford $1,293 15%
As you can see, Geico offers the cheapest insurance for college students. However, its discount amount is less than you could qualify for with State Farm or Liberty Mutual. That’s why it’s important to comparison shop with multiple companies to see which offers the best rates for your family.
Each insurer will also have different requirements for student drivers. For example, discounts may be exclusive to students of a certain age or who maintain a certain GPA. Let’s take a closer look at what these auto insurance companies offer and how you can qualify for discounts.
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How to Get Student Discounts on Auto Insurance
In general, student drivers must do the following to qualify for discounts:
- Maintain a GPA of “B” (3.0) or higher
- Be under 25 years of age
- Be a full-time student
- Have a good driving record
Some companies will vary on these requirements, but you can expect each to have its own version. For example, State Farm requires all student drivers to complete a five-course driving lesson and drive for five hours with a mentor before the discount is applied.
Other insurers have more specific requirements. For example, Allstate only offers its discount to students who go to school within 100 miles of where the insured vehicle is garaged. On the other hand, Progressive offers an additional discount to drivers who live farther than 100 miles away.
If you want to shop with Geico, the company also offers additional discounts to members of sororities, fraternities, honor societies, and other university organizations. The table below breaks down all the auto insurance discounts available with the top companies. The discount amount is listed if it’s known.
Auto Insurance Discounts From Top Companies
Auto Insurance Discounts Allstate (%) American Family (%) Farmers (%) Geico (%) Liberty Mutual (%) Nationwide (%) Progressive (%) State Farm (%) Travelers (%) USAA (%)
Adaptive Cruise Control N/A N/A N/A N/A 5 x x N/A N/A N/A
Adaptive Headlights N/A N/A x N/A 5 x x N/A N/A N/A
Anti-lock Brakes x x x 5 5 5 x 5 x x
Anti-Theft x x x 25 20 25 x 15 x x
Claim Free x x x 26 x 10 x 15 23 12
Continuous Coverage x x x x N/A N/A x N/A 15 N/A
Daytime Running Lights x x x 1 5 5 x N/A x x
Defensive Driver x x x x 10 5 10 5 10 3
Distant Student x x x x N/A 10 x x 7 x
Driver's Ed x x x x 10 N/A 10 15 8 3
Driving Device/App x x N/A x 30 40 20 50 30 5
Early Signing x x x x N/A 8 x N/A 10 12
Electronic Stability Control x x x N/A 5 x x N/A N/A N/A
Emergency Deployment N/A N/A N/A 25 N/A N/A N/A N/A N/A N/A
Engaged Couple N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Family Legacy N/A x N/A x N/A N/A x N/A N/A 10
Family Plan N/A x x N/A N/A 25 N/A N/A N/A N/A
Farm Vehicle x N/A x x N/A N/A N/A N/A N/A N/A
Fast 5 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Federal Employee N/A N/A x 8 10 N/A N/A N/A N/A N/A
Forward Collision Warning N/A N/A N/A N/A 5 x x N/A N/A N/A
Full Payment N/A x x x $5 N/A x N/A 7.5 N/A
Further Education N/A N/A N/A x 10 15 N/A N/A x N/A
Garaging/Storing N/A N/A x N/A N/A N/A N/A N/A x 90
Good Credit x x N/A N/A N/A x x x N/A N/A
Good Student x x x 15 22.5 10 x 25 8 3
Green Vehicle x N/A 5 N/A 10 N/A N/A N/A 10 N/A
Homeowner N/A N/A x x x 5 x 3 5 N/A
Lane Departure Warning N/A N/A N/A N/A x x x N/A N/A N/A
Life Insurance x N/A N/A N/A N/A x N/A N/A N/A N/A
Low Mileage x x x x x x x 30 x x
Loyalty N/A x N/A x N/A 5 x N/A N/A x
Married N/A N/A N/A N/A x x x x N/A x
Membership/Group N/A N/A N/A x 10 7 N/A N/A x N/A
Military x N/A x 15 4 N/A N/A x N/A x
Military Garaging N/A N/A N/A N/A N/A N/A N/A N/A N/A 15
Multiple Drivers N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Multiple Policies 10 29 x 10 20 10 12 17 13 x
Multiple Vehicles x x x 25 10 20 10 20 8 x
New Address N/A N/A N/A N/A 5 N/A N/A N/A N/A N/A
New Customer/New Plan N/A N/A N/A N/A x N/A N/A N/A N/A N/A
New Graduate N/A N/A N/A N/A 5 N/A N/A N/A N/A N/A
Newer Vehicle x N/A x x N/A x x 40 10 12
Newly Licensed N/A N/A N/A N/A 5 N/A N/A N/A N/A N/A
Newlyweds N/A N/A N/A N/A 5 N/A N/A N/A N/A N/A
Non-Smoker/Non-Drinker N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Occasional Operator N/A N/A N/A N/A N/A N/A N/A N/A N/A x
Occupation x N/A x x 10 15 N/A N/A x N/A
On-Time Payments x N/A N/A N/A N/A N/A N/A N/A 15 N/A
Online Shopper N/A N/A N/A N/A N/A N/A 7 N/A N/A N/A
Paperless Documents x x x N/A N/A 5 $50 N/A N/A N/A
Paperless/Auto Billing x x x N/A x $30 x $2 3 3
Passive Restraint x x x 40 x 20 x 40 x x
Recent Retirees N/A N/A N/A N/A 4 N/A N/A N/A N/A N/A
Renter N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Roadside Assistance N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Safe Driver N/A N/A x 15 N/A 35 31 15 23 12
Seat Belt Use N/A N/A N/A 15 N/A N/A N/A N/A N/A N/A
Senior Driver x N/A x N/A N/A N/A N/A N/A N/A x
Stable Residence N/A N/A N/A N/A N/A x x N/A N/A N/A
Students & Alumni N/A x N/A x 10 7 N/A N/A N/A N/A
Switching Provider N/A x x N/A 10 N/A x N/A N/A N/A
Utility Vehicle x N/A x x N/A N/A N/A N/A N/A N/A
Vehicle Recovery x x x 15 35 25 x 5 x x
VIN Etching N/A N/A x N/A 5 x x N/A x x
Volunteer N/A x N/A N/A N/A N/A N/A N/A N/A N/A
Young Driver N/A N/A N/A N/A x N/A x N/A N/A $75
How many discounts do you qualify for with your insurer? If another company offers better discounts to veterans and college students, start comparing auto insurance quotes. It can pay to shop around with multiple companies to see which offers the best rates and discounts for your college student.
Why is auto insurance so expensive for college students?
Finding affordable auto insurance for college students isn’t hard, but you’ll run into a few challenges. For example, student auto insurance rates are more expensive than the average drivers’, simply due to lack of experience, so be prepared to pay more by default.
To give you an idea of how auto insurance rates can vary by age, take a look at how State Farm and USAA auto insurance rates can vary for 17-year-old to 25-year-old drivers:
Average Annual Auto Insurance Rates by Age and Gender
Group State Farm Average Annual Rates USAA Average Annual Rates
Married 35-year old female $2,081.72 $1,551.43
Married 35-year old male $2,081.72 $1,540.32
Married 60-year old female $1,873.89 $1,449.85
Married 60-year old male $1,873.89 $1,448.98
Single 17-year old female $5,953.88 $4,807.54
Single 17-year old male $7,324.34 $5,385.61
Single 25-year old female $2,335.96 $1,988.52
Single 25-year old male $2,554.56 $2,126.14
Unfortunately, single drivers under the age of 30 pay the most for auto insurance. If you’re a young driver, college student, or have a student driver at home you want to add to an existing policy, prepare for your auto insurance rates to go up.
Insurance companies incorrectly assume that young drivers cause the most accidents. However, recent research by the Insurance Information Institute found that drivers between the ages of 25-34 were behind the most accidents (17.6%) in 2019. Drivers between 16-24 were responsible for 11.4% of accidents, less than any age group younger than 74.
The good news is that young drivers may pay more but can qualify for multiple discounts, including those listed in the table above. When you stack these discounts with your military discount, you can save up to 30% or more on auto insurance.
How can college students get cheap auto insurance?
Stacking discounts is the easiest way for college students to save money on auto insurance. However, there’s more than one way to lower your rates, including driving an older vehicle and parking your car in a garage. College students can also adjust their coverage levels and deductibles to get more affordable auto insurance.
Adding a college student to a roommate’s or parent’s policy can lower rates too, but they’ll raise the overall rates of every other driver on the policy due to their age. However, if those drivers are willing to compensate for a younger driver’s risk, it will help college students avoid the exorbitant rates of an individual policy.
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Where is the best affordable auto insurance for college students?
The best insurance for students and veterans is as follows:
- Geico – $388/mo
- USAA – $425/mo
- Nationwide – $478/mo
A quick online comparison will show you that Geico offers the most competitive rates. However, while companies like Progressive and State Farm may have more expensive rates upfront, each offers additional perks to students that can further reduce their rates.
Shop around and compare these rates with quotes from multiple companies in your area. Just because young drivers pay more for coverage doesn’t mean they can’t find affordable auto insurance for college students.
Frequently Asked Questions
Do students get cheaper auto insurance?
Yes, students can qualify for cheaper auto insurance if they acquire good grades.
How can I reduce my auto insurance as a student?
As a student, you can reduce your auto insurance by driving an older vehicle and parking your car in a garage.
Why is auto insurance so expensive for students?
Auto insurance is expensive for students because of their lack of experience.
How long can I stay on my parents’ auto insurance at State Farm?
There is no age limit.
At what age is auto insurance cheapest?
Auto insurance decreases at ages 19 and 21.
What GPA do you need to get a good student discount?
Students need to have a 3.0 GPA to get a good student discount.
Compare quotes from the top auto insurance companies and save!
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for veterans interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance-related. We update our site regularly, and all content is reviewed by auto insurance experts.