The words “low-cost” and “insurance” really shouldn’t be used together, especially when you are looking for the cheapest coverage for college students. Because of the high cost, let’s go over a few of the things that impact auto insurance premiums, and find out if we can help you lower the cost of your next policy.
The make and model of vehicle you are trying to insure is one of the largest factors that determines whether or not you can buy the cheapest coverage for college students. Vehicles with limited top-end speed, a plethora of safety features, or a low likelihood of having liability claims will cost significantly less to insure than fast, unsafe models. The list below illustrates insurance premiums for a selection of the most affordable automobiles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda Accord LX 4-Dr Sedan||$2,176|
|Honda CR-V LX 2WD||$2,186|
|Ford Escape XLT 4WD||$2,208|
|Ford F-150 XL Regular Cab 2WD||$2,271|
|Hyundai Elantra SE Touring Station Wagon||$2,348|
|Jeep Wrangler Rubicon 4WD 2-Dr||$2,443|
|Ford Focus S 4-Dr Sedan||$2,551|
|Chevrolet Impala LS||$2,556|
|Ford Edge SEL 2WD||$2,551|
|Toyota Tacoma 2WD||$2,559|
|Toyota RAV4 Sport 2WD||$2,582|
|Volkswagen Jetta S 4-Dr Sedan||$2,587|
|Chevrolet Malibu LS||$2,582|
|Ford Explorer Limited AWD||$2,616|
|Dodge Grand Caravan Crew||$2,622|
|Honda Civic EX 4-Dr Sedan||$2,691|
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Data based on single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, and claim-free. Price estimates do not factor in specific garaging location which can decrease or increase premium rates substantially.
Looking at the rates, we can expect cars like the Honda Accord, Honda CR-V, Ford Escape, and Ford F-150 are likely to be a few of the most affordable vehicles to insure for students in college. The price of auto insurance will tend to be higher just because there is more exposure for college students, but in general those vehicles will have the best insurance prices compared to other vehicles.
Establishing which company quotes the cheapest auto insurance rates for college students takes a little more effort than just quoting one company’s rates. Each insurance company has their own process for filing rates in each state, so we need to take a look at the lowest cost auto insurance companies in Greensboro, NC.
It’s important that readers know that Greensboro auto insurance rates are impacted by many factors that will increase or decrease the price of your policy. Simply improving your credit, moving to a new city, or getting a ticket for running a stop sign can trigger price changes that may make certain companies more affordable than competitors.
Compare Cheap Insurance Quotes for College Students
Progressive may offer some of the best car insurance rates in Greensboro at around $632 per year. Utica National, Liberty Mutual, GEICO, and NC Farm Bureau would also be considered some of the more affordable Greensboro, NC car insurance companies.
As depicted above, if you currently have a policy with GEICO and switched to Utica National, you might achieve annual savings of about $65. Policyholders with NC Farm Bureau could save as much as $82 a year, and Penn National policyholders might lower prices by $92 a year.
If you want to see how much you could save, click here to start your custom quote or visit several of the following companies.
Understand that those policy prices are averages across all drivers and vehicles and and are not figured with an exact location for college students. So the car insurance company that can offer you the lowest price may not even be in the list above. That emphasizes why you need to quote rates from as many companies as possible using your own specific driver and vehicle information.
For students in college, one of the more important components that determine the price you pay for insurance is your zip code in Greensboro. Areas with increased crime or more people tend to have more expensive car insurance rates, whereas areas with less people or fewer weather incidents have the gratification of cheaper auto insurance rates.
The information below lists the highest-priced places in North Carolina for college students in which to buy car insurance. Greensboro makes the list at #6 with a yearly premium of $786 for the average policy, which is about $66 each month.
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Information shown are estimated as specific Greensboro garaging address can revise coverage prices substantially.
Insurance rate increases from tickets or accidents
The obvious way to enjoy low auto insurance premiums for students in college is to be a safe driver and not receive tickets or have accidents. The diagram below illustrates how violations and fender-benders can influence insurance rates for different age groups. The premium estimates are based on a married male driver, comp and collision included, $250 deductibles, and no policy discounts are applied.
In the previous example, the average cost of auto insurance in North Carolina per year with a clean driving record and no accidents is $1,243. Get one speeding ticket and the average cost hikes up to $1,424, an increase of $181 each year. Then add in two accidents along with the one speeding ticket and the annual cost of auto insurance for college students jumps again to an average of $2,946. That’s an increase of $1,703, or $142 per month, just for not driving carefully!
How to find a good Greensboro auto insurance company
Insuring your vehicle with the highest-rated car insurance company can be challenging considering how many different companies sell coverage in North Carolina. The ranking data in the next section may help you select which coverage providers to look at shopping prices with. These ratings include the largest companies in the United States, so smaller regional companies will not be included in these rankings.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Discounts on Greensboro auto insurance rates
Insurance companies that provide coverage for college students may also offer price discounts that could potentially reduce rates by 40% or more if you are eligible. A few of the larger companies and a selection of discounts can be read below.
- 21st Century may include discounts for theft prevention, early bird, driver training, teen driver, student driver, air bags, and 55 and older.
- Progressive may offer discounts for good student, multi-policy, continuous coverage, online signing, multi-vehicle, online quote discount, and homeowner.
- State Farm offers premium reductions for Steer Clear safe driver discount, passive restraint, defensive driving training, student away at school, good driver, good student, and safe vehicle.
- Nationwide has savings for easy pay, business or organization, defensive driving, family plan, Farm Bureau membership, good student, and anti-theft.
- Esurance discounts include paid-in-full, claim free, online quote, Pac-12 alumni, and defensive driver.
- The Hartford offers discounts including vehicle fuel type, bundle, good student, defensive driver, anti-theft, and driver training.
The chart below illustrates the difference between insurance prices with and without discounts. Data assumes a female driver, no accidents, no driving violations, North Carolina state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with paperless filing, passive restraint, anti-theft, continuous coverage, good student, and paid-in-full discounts applied. When discounts are applied, the average savings per year on auto insurance for college students is 21% or $289.
Why it’s important to shop around
Greensboro auto insurance rates are calculated based on many things that control the policy premium. Simply turning a year older, moving to a new city, or getting into an accident can trigger rate changes that may make certain companies cheaper than before. Not only may things change on your end, but insurance companies change the rates they charge in North Carolina without warning to adjust for gains or losses. Higher than usual claims can cause additional price hikes, while less frequent claims can cause cheaper Greensboro car insurance rates.
For example, the graph below shows rates for the cheapest car insurance in Greensboro, NC for a 35-year-old female driver with no accidents or violations, and a good credit rating. When quoting prices based on her personal risk profile, Progressive might quote the lowest car insurance rates in Greensboro at $735 each year. This is $137 less than the average rate paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, Penn National, and Liberty Mutual are the rest of the most affordable Greensboro, NC auto insurance companies.
Now let’s give the driver from above a chargeable claim, a lower credit score, and a few traffic violations. Since each auto insurance company uses a different method to determine rates, comparing quotes most likely will result in a substantially altered list of the cheapest car insurance companies in Greensboro as shown below.
Titan now has the lowest price in Greensboro, NC with State Farm, Auto-Owners, Utica National, and Erie also having competitive pricing. This example proves why consumers need to compare lots of rates to find affordable car insurance quotes for college students.
Rates can be determined by many risk factors and change frequently, so the best option six months ago may now be one of the higher cost companies.