Cheapest Car Insurance for College Graduates in New York

Deciding which companies have the best auto insurance rates for college graduates will require a tad more effort than just picking a company at random. Every auto insurer has a different formula for determining rates, so we’ll go over the auto insurance companies with the most affordable rates in New York.

Cheap Insurance Rates for Grads

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USAA offers some of the most affordable car insurance rates in New York at around $1,152 a year. Erie, Utica National, Travelers, and Allstate also qualify as some of the most economical New York insurance companies.

As the rates illustrate above, if you currently have coverage with Erie and switched to USAA, you might achieve an annual premium reduction of in the neighborhood of $90. Insureds with Utica National may save as much as $337 a year, and Travelers customers might realize rate reductions of up to $377 a year.

These premiums are averaged across all ages of drivers and types of vehicles and are not factoring in a rate discount for college graduates. So the auto insurance company that is best suited for you may not even be featured in the list of companies shown earlier. That affirms the importance of why you need to compare prices as often as possible using your own driver data and vehicle information.

The make and model of vehicle you are trying to insure is a significant factor that determines whether or not you find the cheapest auto insurance for college graduates in New York. Vehicles with higher performance, poor passenger safety features, or a track record of large liability claims will cost more to insure than safer, lower-performance models. The next list showcases coverage rates for a selection of the most affordable vehicles to insure.

Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New York minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Estimates do not factor in New York location which can modify prices greatly.

Looking at the data, you can expect models like the Hyundai Elantra, Honda CR-V, Ford Escape, Honda Accord, and Toyota Sienna are going to be the most economical vehicles to insure for college grads.

For college grads, one of the largest things that is used by auto insurance companies to determine the amount you pay each year for auto insurance is where you live. Areas with more people or higher crime rates like New York, Freeport, and Mount Vernon tend to pay more, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower rates.

The following table ranks the highest-priced places in New York for college graduates to purchase a policy in.

Price information shown is estimated as the vehicle garaging location can revise price quotes considerably.

Violations and accidents raise rates

In a perfect world, the best way to score the cheapest auto insurance for college graduates in New York is to be a safe driver and avoid tickets and accidents. The information below shows how traffic citations and accident claims can impact car insurance rates for each different age category. The data is based on a single male driver, full coverage, $100 deductibles, and no discounts are factored in.

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In the prior example, the average cost of car insurance per year with no violations or accidents is $1,523. Get two speeding tickets and the average cost jumps to $2,020, an increase of $497 each year. Then add in two accidents along with the two speeding tickets and the annual cost of auto insurance for college graduates goes up to an average of $3,779. That’s an increase of $2,256, or $188 per month, just for not being more responsible behind the wheel!

Find the cheapest auto insurance for college graduates in New York

Below you’ll find many thrifty ideas that can help New York drivers find low-cost car insurance.

• Avoid accidents and claims
• Save money by insuring older vehicles for liability only
• Drive a car with a high safety rating
• Insure your home and auto with the same company
• Clean up your credit rating
• Comparison shop at least once a year

The final tip is especially crucial, as we stressed in this piece. Car insurance rates can be modified anytime, so drivers shouldn’t hesitate to buy a different policy if you find a cheaper price. Brand loyalty is not necessarily bad, but it’s not a great idea if that stubbornness costs you lots of money. If you have a few minutes, now is a great time to compare rates and find cheaper insurance for college graduates.

Who has the cheapest insurance quotes for college grads?

Due to technology, there are many ways to comparison shop for auto insurance in New York, but the three most common are either through an independent insurance agent, an exclusive agency like Liberty Mutual or State Farm, or from a direct company like Geico. They all follow the same basic process, but buyers should know the differences in how they function.

Independent agencies write business for many companies and can compare rates with every one. Agents of this type have the ability to get prices from more than one company, which can help you get a better chance of finding cheaper coverage. If they find a lower price, an independent agent can move your coverage and you stay with the same agent.

An exclusive ageny is usually just provide rates from one insurance company, two of the more popular are an Allstate or Liberty Mutual agent. These agents are unable to shop your coverage around, so if prices are high they cannot provide alternatives.

If you want to buy auto insurance direct, you forego local insurance agents and instead buy from a direct company like Esurance. This auto insurance option can be a good choice for people who do not need advice for asset protection and understand what limits they need.

What is the best way to buy the cheapest auto insurance for college graduates in New York? It would be premature to say buying from a direct car insurance company yields the cheapest rates because there isn’t an agent involved, but that does not always hold true. It would also be easy to say buying from an independent agent is the best way since there are more companies to choose from, but that assumption is also not necessarily accurate. In the right set of circumstances, the exclusive agents have really good rates that are the cheapest.

Since auto insurance prices are based on many different factors, really the best method to find out which one is cheapest is to get quotes and compare the rates. Experts recommend getting price quotes all three ways to have a good selection of rates to choose from. We compiled a list of companies with some of the cheapest online rates that you can click here to view.