Comparing rates for reasonably-priced car insurance is confusing at best, and finding out which company quotes the most affordable car insurance rates for college graduates may require more quotes for comparison. Each auto insurer uses their own method to set policy rates, so we’ll take a look at the car insurance companies with the most affordable rates in California.
Find Cheaper Auto Insurance for Grads
|Rank||Company||Cost Per Year|
|Find Cheaper Rates Go|
USAA has some of the cheapest car insurance rates in Riverside at around $1,121 per year. This is $530 less than the average rate paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide would also be considered some of the best Riverside, CA auto insurance companies.
In the rate table above, if you are insured with Nationwide and switched to Wawanesa, you might realize a yearly savings of in the neighborhood of $117. Customers with 21st Century may save as much as $233 a year, and Grange insureds might see rate reductions of $345 a year.
Understand that those prices are averaged across all insureds and vehicles and are not factoring in an exact location for college graduates. So the insurer that can offer you the best rate may not even be in the top 24 companies shown above. That points out the importance of why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.
The car, truck, or SUV you are insuring is a significant factor when comparison shopping for the best insurance for college graduates. Vehicles with lots of speed or power, poor crash test ratings, or a history of substantial liability claims will cost much more to insure than safer models. The next table showcases insurance rates for the cheaper automobiles to buy coverage for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 2WD||$1,034|
|Honda Odyssey LX||$1,114|
|Hyundai Elantra GLS Touring Station Wagon||$1,158|
|Honda Accord EX 4-Dr Sedan||$1,167|
|Chevrolet Impala LT||$1,199|
|Toyota RAV4 Sport 4WD||$1,205|
|Volkswagen Jetta LE 4-Dr Sedan||$1,199|
|Ford Escape XLT 2WD||$1,242|
|Toyota Corolla XLE||$1,260|
|Ford Edge Sport 2WD||$1,268|
|Hyundai Sonata GLS 4-Dr Sedan||$1,283|
|Toyota Tacoma 4WD||$1,299|
|Ford Focus SES 2-Dr Coupe||$1,345|
|Ford Fusion Sport AWD 4-Dr Sedan||$1,370|
|Chevrolet Equinox LS 2WD||$1,372|
|Jeep Wrangler Sahara 4WD 2-Dr||$1,391|
|Ford Explorer XLT 4WD||$1,399|
|Ford F-350 Super Cab XLT Turbo Diesel 2WD||$1,395|
|Dodge Grand Caravan SXT||$1,400|
|Compare Cheap Rates Go|
Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rates do not factor in vehicle location which can alter price quotes significantly.
Based on these rates, vehicles like the Honda CR-V, Honda Odyssey, Hyundai Elantra, Honda Accord, and Chevrolet Impala should be the cheapest vehicles to insure for college grads.
Full coverage rates compared to liability only
Paying less for car insurance is the goal of the majority of drivers, and one great way to buy cheaper insurance for college graduates is to only pay for liability coverage. The example below shows the difference between insurance costs with and without full coverage. The rates are based on no claims, a clean driving record, $500 deductibles, single status, and no discounts are factored in.
If we average the cost for all age groups, physical damage coverage on your policy costs an extra $2,816 per year over liability only. Many drivers will wonder if physical damage coverage is worth the money. There is no set guideline for eliminating comp and collision coverage, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.
There are some scenarios where only buying liability is not advised. If you haven’t satisfied your loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should keep full coverage.
The information below illustrates how choosing a deductible can impact insurance costs when getting quotes for cheap insurance for college graduates. The rates are based on a single male driver, full physical damage coverage, and no discounts are applied to the premium.
The data above shows that a 40-year-old driver could reduce rates by $436 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $656 by choosing a $1,000 deductible. Even younger drivers, like the 20-year-old category, could save up to $1,432 or more by using a higher deductible.
When increasing deductibles, it will now be necessary to have additional funds squirreled away to be able to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Get discount Riverside insurance rates
Car insurance companies that offer coverage for college graduates may also provide premium discounts that may potentially lower prices by as much as 30% if you are eligible for them. A few popular companies and some of their more popular discounts are detailed below.
- GEICO may offer discounts for good student, air bags, five-year accident-free, emergency military deployment, anti-theft, multi-policy, and seat belt use.
- Travelers policyholders can earn discounts including multi-policy, early quote, home ownership, payment discounts, driver training, hybrid/electric vehicle, and good student.
- Nationwide has savings for easy pay, anti-theft, multi-policy, Farm Bureau membership, and business or organization.
- Farmers Insurance includes discounts for multi-car, bundle discounts, switch companies, electronic funds transfer, homeowner, early shopping, and business and professional.
- Esurance has discounts for Pac-12 alumni, claim free, emergency road assistance, paid-in-full, safety device, and DriveSense.
- State Farm discounts include good driver, multiple policy, safe vehicle, defensive driving training, and Drive Safe & Save.
- Progressive offers discounts including good student, continuous coverage, multi-policy, online signing, and multi-vehicle.
- Mercury Insurance may include discounts for type of vehicle, good driver, low natural disaster claims, good student, and professional/association.
The information below visualizes the comparison of annual premium costs with and without discounts applied to the policy rates. The data is based on a male driver, no accidents, no driving violations, California state minimum liability limits, full coverage, and $250 deductibles.
The first bar for each age group shows insurance cost with no discounts. The second shows the rates with claim-free, multiple policy, multiple vehicle, passive restraint, defensive driving course, and anti-theft discounts applied. When drivers qualify for the discounts, theaverage amount saved on car insurance for college graduates is 28% or $863.
If you aren’t sure which coverage to buy and prefer to get some professional advice when shopping around for cheaper insurance for college graduates, the professional agents shown below can help you decide which coverages and limits you need.
To find a Riverside insurance agency by location nearest to you, click the link after the list or click here to compare rates now.
Farmers Insurance Eric Wilkins Agency
7177 Brockton Ave #109 – Riverside, CA 92506 – (951) 680-9213
Enrique Martinez – State Farm Insurance Agent
9305 Magnolia Ave – Riverside, CA 92503 – (951) 351-2085
Farmers Insurance – Sampson Cummings
10250 Indiana Ave – Riverside, CA 92503 – (951) 364-8020
State Farm: Ollie Hatch Jr
6748 Brockton Ave – Riverside, CA 92506 – (888) 231-8822
Farmers Insurance – Carl Couey
6670 Alessandro Blvd f – Riverside, CA 92506 – (951) 780-6660
How to find more affordable auto insurance for college graduates
Below you’ll find some money-saving suggestions that can help Riverside drivers quote lower-cost auto insurance.
- Do not get into accidents that are your fault
- Bundle car and home insurance and save money
- Drop full coverage on older vehicles
- Try to pay small claims out-of-pocket
- Tickets and violations raise rates
- Get cheaper liability coverage by choosing a safer vehicle
- Compare rate quotes often
The last item on the list is extremely critical, as we pointed out in the prior article. Insurance rates adjust often, so don’t be tentative to switch to a new company if a lower-cost policy is available.
Many drivers tend to have loyalty to a certain company, but it’s not a great idea if that devotion results in you overpaying a wad of cash every year. Now is a great time to compare prices to find cheaper car insurance for college graduates in Riverside.