You have probably watched the catchy advertisements from insurers like Liberty Mutual and The General that make promises of enormous savings. So you just need to choose the one with the most memorable commercial, right?
It’s not that easy, however, as there are a ton of unknown elements like whether you are a man or a woman, whether you want full coverage, your credit score, and the number of miles you drive in a year, that all help calculate your car insurance rates. The content below covers the causes of high insurance rates and hopefully give you enough understanding to have a solid foundation to find cheaper car insurance.
The make and model of vehicle requiring insurance is one of the biggest factors when comparison shopping for economical auto insurance for college students. Vehicles with more horsepower, poor passenger safety features, or a high likelihood of having liability claims will cost quite a bit more to insure than more economical and safe models.
The next table features auto insurance premiums for some of the most cost-effective vehicles to insure in Florida.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLT 2WD | $5,337 |
| Honda CR-V EX 4WD | $5,414 |
| Honda Accord EX-L 4-Dr Sedan | $5,809 |
| Toyota Prius | $5,890 |
| Ford Explorer XLT 2WD | $5,935 |
| Toyota Tacoma 4WD | $5,941 |
| Dodge Grand Caravan SE | $5,935 |
| Chevrolet Impala LT | $6,330 |
| Toyota RAV4 Sport 2WD | $6,339 |
| Volkswagen Jetta LE 4-Dr Sedan | $6,330 |
| Jeep Grand Cherokee Laredo 4WD | $6,337 |
| Jeep Wrangler Unlimited Sahara 2WD 4-Dr | $6,410 |
| Ford F-150 FX4 4WD | $6,418 |
| Honda Odyssey EX-L W/Navigation | $6,727 |
| Toyota Camry XLE | $6,734 |
| Toyota Corolla LE | $6,727 |
| Hyundai Elantra GLS 4-Dr Sedan | $6,734 |
| Ford Edge Sport AWD | $6,727 |
| Nissan Rogue S AWD | $6,786 |
| Hyundai Sonata GLS 4-Dr Sedan | $6,795 |
| Kia Optima LX | $6,786 |
| Ford Fusion SEL 4-Dr Sedan | $6,808 |
| Chevrolet Equinox LTZ 2WD | $6,815 |
| Start Your Quote Go | |
Data based on single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, and safe-driver. Premium amounts do not factor in garaging location in Tampa, FL which can affect price quotes considerably.
Looking at the data, we can assume that cars like the Ford Escape, Honda CR-V, Honda Accord, and Toyota Prius will be the most economical vehicles to insure for students in college. The cost of a car insurance policy will be more costly because of the fact that there is more claim risk for college students, but overall those particular models will most likely have the lowest prices possible.
Finding low-cost insurance is tough enough, and determining which company quotes the lowest-priced car insurance rates for college students will take more quotes for comparison. Every car insurance company has their own guidelines for establishing rates, so let’s rank the car insurance companies that tend to be cheaper in Florida.
It’s important that you understand Tampa, FL car insurance rates are calculated based on many things that control the price you pay. Price variation is why it is important to shop around when trying to get the cheapest auto insurance quotes for college students. Insurance prices are calculated by many things and can decrease or increase without notice, so the cheapest company the last time you compared rates may now be wasting a lot of money.
Find Cheaper Auto Insurance for College Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $986 |
| 2 | Amica | $1,694 |
| 3 | Electric | $1,746 |
| 4 | Progressive | $1,847 |
| 5 | Travelers | $1,888 |
| 6 | Allied | $1,926 |
| 7 | Mercury | $1,992 |
| 8 | State Farm | $2,068 |
| 9 | Esurance | $2,082 |
| 10 | Auto-Owners | $2,107 |
| 11 | GEICO | $2,150 |
| 12 | Allstate | $2,388 |
| 13 | 21st Century | $2,445 |
| 14 | Windhaven Insurance | $2,549 |
| 15 | Safeco | $2,987 |
| 16 | MetLife | $2,988 |
| 17 | Hanover | $3,024 |
| 18 | Liberty Mutual | $3,039 |
| 19 | United Automobile | $3,457 |
| 20 | Direct General | $4,062 |
| Quote Your Rates Go | ||
USAA may have some of the lowest car insurance rates in Tampa at around $986 each year. This is $1,462 less than the average policy premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers are also some of the cheapest Tampa, FL insurance companies.
As illustrated above, if you are insured with Amica and switched to USAA, you could earn a yearly price reduction of roughly $708. Drivers with Electric may save as much as $760 a year, and Progressive insureds might cut rates by $861 a year.
To find the cheapest rates for your vehicle, click here to start your custom quote or visit any of the companies below.
Remember that these estimates are averaged for all types of drivers and the different vehicles they drive and and are not figured with an exact location for college students. So the car insurance company that has the cheapest price for you may not even be in the top 21 companies in the list above. That underscores the importance of why you need to get car insurance quotes using your own personal information and vehicle type.
How violations and accidents impact rates
A great way to enjoy good car insurance rates in Tampa for students in college is to be a good driver and not receive tickets or have accidents. The example below demonstrates how citations and at-fault collisions increase car insurance costs for each different age group. The price estimates are based on a married male driver, comp and collision included, $1,000 deductibles, and no other discounts are factored in.
In the previous chart, the average cost of auto insurance per year with no accidents and a clean driving record is $1,486. Factor in one speeding ticket and the average cost surges to $1,710, an increase of $224 each year. Now throw in one accident along with the one speeding ticket and the yearly cost of car insurance for college students goes up to an average of $2,330. That’s an increase of $844, or $70 per month, just for not being a responsible driver!
The example below illustrates how choosing a deductible can change insurance costs when trying to find cheap insurance for college students. The rates are based on a married female driver, full physical damage coverage, and no discounts are taken into consideration.
In the chart above, a 30-year-old driver could save $332 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $500 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old, could shave $708 each year by choosing a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it is essential to have spare funds to allow you to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Ideas for buying the cheapest car insurance for college students
The list below details some of the better penny-pinching solutions that can help Florida drivers find low-cost coverage.
- Vehicles with safetly features generally cost less to insure
- Having at-fault accidents will increase rates
- Increase your policy deductibles
- You will pay more if you get tickets or have at-fault accidents
- Drivers with good credit ratings often pay less
- Compare prices frequently to find the best deal
That last tip is particularly valuable, as we hit on in this piece. Car insurance prices fluctuate considerably, so don’t hesitate to switch to a new company if you find a cheaper price. Staying with the same car insurance company is fine, but it’s not a great idea if that inflexibility results in costing you thousands of dollars over the life of your policy. In just a few minutes you could shop around and find cheaper car insurance for college students in Tampa.