The make and model of vehicle requiring insurance is one of the main factors when shopping around for the cheapest insurance for college students. Vehicles with lower acceleration and performance, a great safety record, or a low likelihood of liability claims will cost much less to insure than higher performance models.
The next list outlines auto insurance rates for a number of the most cost-effective automobiles to insure.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$1,712|
|Ford Escape XLT 4WD||$1,738|
|Honda Accord EX-L 4-Dr Sedan||$1,846|
|Ford F-150 FX2 Super Cab 2WD||$1,916|
|Dodge Grand Caravan SE||$1,922|
|Volkswagen Jetta 2.0T Station Wagon||$1,980|
|Ford Edge SEL 2WD||$1,998|
|Honda Odyssey EX W/Rear Entertainment||$2,005|
|Jeep Grand Cherokee Laredo 2WD||$2,024|
|Toyota Camry LE||$2,029|
|Chevrolet Equinox LS 2WD||$2,024|
|Chevrolet Impala LT||$2,034|
|Toyota RAV4 Limited 4WD||$2,024|
|Nissan Altima 2.5 4-Dr Sedan||$2,032|
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Data rating is based on single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include safe-driver, and claim-free. Table data does not factor in specific zip code location which can lower or raise insurance rates substantially.
By looking at the data, cars like the Honda CR-V, Ford Escape, and Honda Accord will be the cheaper vehicles to insure for students in college. Rates will tend to be higher because there is more claim risk for college students, but in general those specific models will have the lowest insurance prices available.
One of the more important components that are looked at to determine auto insurance rates is where you choose to live in Chula Vista. More densely populated places are more likely to pay higher prices, whereas areas with less crime or weather claims get the luxury of paying less.
The next table sorts the highest-priced areas in California for college students in which to buy car insurance. Chula Vista is ranked at #24 with a yearly premium of $1,337 for the average policyholder, which is around $111 each month.
|Rank||City||Premium Per Year|
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Premium costs are approximated as the specific garaging location can raise or lower price quotes greatly.
Rate comparison of full coverage and liability-only
Lowering the price of insurance is important to most drivers, and one common way to find cheap insurance for college students is to only buy liability insurance. The diagram below illustrates the difference between car insurance rates when comparing full coverage to liability only. The prices are based on no tickets, no at-fault accidents, $1,000 deductibles, single status, and no discounts are taken into consideration.
If averaged for all ages, comp and collision coverage costs an extra $2,467 per year more than buying just liability insurance. That raises the question if it’s a good idea to buy full coverage. There isn’t a steadfast formula for phasing out physical damage insurance, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s say your vehicle’s replacement value is $9,500 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most you would receive is $8,500 after the deductible is paid. If you are paying more than $850 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.
There are a few cases where removing full coverage is not advised. If you haven’t satisfied your loan, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should maintain full coverage.
Get discounts on Chula Vista auto insurance rates
Car insurance companies that offer quotes for college students may have price discounts that can reduce rates by as much as 30% if you meet certain criteria. Large insurance companies and their offered discounts are included below.
- Progressive discounts include homeowner, multi-vehicle, good student, online quote discount, multi-policy, online signing, and continuous coverage.
- MetLife offers discounts including defensive driver, multi-policy, good student, accident-free, good driver, and claim-free.
- Mercury Insurance includes discounts for professional/association, annual mileage, age of vehicle, multi-car, and low natural disaster claims.
- Nationwide policyholders can earn discounts including Farm Bureau membership, business or organization, accident-free, family plan, and easy pay.
- GEICO may have discounts that include anti-lock brakes, air bags, defensive driver, military active duty, multi-policy, and daytime running lights.
- AAA offers premium reductions for AAA membership discount, education and occupation, good driver, good student, multi-policy, pay-in-full, and multi-car.
The information below illustrates the comparison of auto insurance rates with and without discounts applied to the policy premium. The prices are based on a female driver, no claims or violations, California state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with continuous coverage, paperless filing, anti-theft, vehicle safety, paid-in-full, and passive restraint discounts applied. With discounts applied, the average amount saved each year on insurance for college students is 21% or $683.
Picking a good quality car insurance provider can be a challenge considering how many different companies there are to choose from in California. The company ratings in the next section can help you decide which auto insurance companies to look at comparing rates from.
These rankings are only comprised of major nationwide insurance companies, so companies that have a smaller presence will not be included in this list. If you wish to compare prices and find the cheapest rates for college students, follow this link.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
|AAA of Southern California||91||94||97||92%||A+||94.1|
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Data Source: Insure.com Best Car Insurance Companies