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The average cost of car insurance for a college student is $1,257 per year, or about $105 per month. College students usually don’t pay as much for coverage as younger teens, but they’re typically charged higher car insurance premiums than mature drivers due to their age and comparative lack of driving experience.
Average Cost of Car Insurance for a College Student by Company
| Company | Average Annual Premium |
| $879 | |
| $879 | |
| $973 | |
| $1,004 | |
| $1,228 | |
| $1,251 | |
| $1,268 | |
| $1,407 | |
| $1,410 | |
| $1,687 |
*Costs reflect quotes for a 22-year-old male in California with his own policy.
Although college students are charged higher-than-average premiums for car insurance, there are still ways they can save. For example, most major insurance companies offer specific discounts for students, including good-student and student-away-at-school discounts. Good-student discounts allow college students to save if they maintain at least a “B” average, while student-away-at-school discounts lower rates for students who go to school at least 100 miles away from the insured vehicle.
In addition to discounts, the best way for college students to save on car insurance is to shop around for coverage. The best car insurance companies for college students are AAA, Geico, and Travelers, according to WalletHub’s analysis. But rates can vary widely between states and drivers, so it’s important for college students to get quotes from at least three different companies before purchasing a policy.
To learn more, check out WalletHub’s guide to the best car insurance for college students.
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