The words “bargain” and “auto insurance” probably shouldn’t be used together, specifically when you are searching for the best car insurance rates for college graduates. To help control this cost, let’s start the ball rolling by going over some things that determine auto insurance prices, and see how we can help you lower the cost of your next policy.
Figuring out which companies quote the cheapest auto insurance rates for college graduates requires a bit more effort than just comparing rates from one or two companies. Each insurance company has a different process for determining rates, so we’ll go over the auto insurance companies with the most affordable rates in Orlando, FL.
Best Auto Insurance Prices for Grads
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $986 |
| 2 | Electric | $1,746 |
| 3 | Amica | $1,746 |
| 4 | Progressive | $1,793 |
| 5 | Mercury | $1,933 |
| 6 | Travelers | $1,945 |
| 7 | Allied | $2,004 |
| 8 | Esurance | $2,082 |
| 9 | Auto-Owners | $2,107 |
| 10 | GEICO | $2,108 |
| 11 | State Farm | $2,110 |
| 12 | Allstate | $2,388 |
| 13 | 21st Century | $2,445 |
| 14 | Windhaven Insurance | $2,549 |
| 15 | Safeco | $2,898 |
| 16 | Hanover | $2,934 |
| 17 | MetLife | $2,958 |
| 18 | Liberty Mutual | $3,101 |
| 19 | United Automobile | $3,422 |
| 20 | Direct General | $3,902 |
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USAA generally has some of the lowest car insurance rates in Orlando at around $986 each year. Electric, Amica, Progressive, and Mercury also rank well as some of the lowest-priced Orlando, FL auto insurance companies.
In the rate table above, if you currently buy coverage from Amica and switched to USAA, you may realize a yearly price reduction of in the vicinity of $760. Drivers with Progressive may save as much as $807 a year, and Mercury insureds might reduce prices by as much as $947 a year.
Understand that those policy rates are averages for all drivers and vehicles and and are not calculated with a vehicle location for college graduates. So the insurer that is best for you may not even be in the top 21 companies in the list above. That points out the importance of why you need to get quotes using your own specific driver information and vehicle.
The type of vehicle you are insuring is one of the largest factors that determines the availability of the most economical car insurance for college graduates. Vehicles with reasonable performance levels, modern passenger safety features, or a low likelihood of liability claims will cost significantly less to insure than higher performance models. The next table showcases coverage premiums for a selection of the cheapest automobiles to insure.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda Odyssey LX | $1,376 |
| Ford F-150 XL Crew Cab 2WD | $1,404 |
| Honda CR-V EX-L 2WD | $1,463 |
| Ford Escape XLS 2WD | $1,534 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,552 |
| Ford Edge SE 2WD | $1,577 |
| Toyota Prius | $1,585 |
| Chevrolet Malibu LTZ | $1,587 |
| Dodge Ram Crew Cab ST 4WD | $1,615 |
| GMC Sierra 2500HD SLT Crew Cab 4WD | $1,663 |
| Honda Accord EX 2-Dr Coupe | $1,666 |
| Ford Focus SES 2-Dr Coupe | $1,671 |
| Chevrolet Silverado LTZ Crew Cab 2WD | $1,694 |
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Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Rate quotes do not factor in specific zip code location which can increase or decrease insurance rates noticeably.
Based upon the table data, we can assume that makes and models like the Honda Odyssey, Ford F-150, and Honda CR-V will be the cheaper vehicles to insure for college grads.
For college grads, one of the largest things that aid in calculating the amount you pay each year for auto insurance is where your car is garaged. Cities with larger populations are more likely to have higher rates, whereas less populated areas have the benefit of cheaper car insurance.
The table below shows the priciest cities in Florida for college graduates to purchase auto insurance in. Orlando ranks #18 with an annual cost of $2,069 for car insurance, which is around $172 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Hialeah | $3,488 |
| 2 | Miami Gardens | $3,245 |
| 3 | Miami | $3,177 |
| 4 | Miami Beach | $2,953 |
| 5 | Miramar | $2,709 |
| 6 | Tampa | $2,636 |
| 7 | Hollywood | $2,630 |
| 8 | West Palm Beach | $2,625 |
| 9 | Pompano Beach | $2,620 |
| 10 | Coral Springs | $2,574 |
| 11 | Fort Lauderdale | $2,475 |
| 12 | Davie | $2,473 |
| 13 | Pembroke Pines | $2,431 |
| 14 | Brandon | $2,368 |
| 15 | St. Petersburg | $2,286 |
| 16 | Clearwater | $2,260 |
| 17 | Spring Hill | $2,102 |
| 18 | Orlando | $2,069 |
| 19 | Port St. Lucie | $1,994 |
| 20 | Jacksonville | $1,980 |
| 21 | Cape Coral | $1,917 |
| 22 | Lakeland | $1,827 |
| 23 | Palm Bay | $1,803 |
| 24 | Tallahassee | $1,748 |
| 25 | Gainesville | $1,630 |
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Prices are approximated as specific location information can lower or raise coverage rates noticeably.
Get discount Orlando auto insurance
Insurance providers that provide policies for college graduates may provide price discounts that can reduce rates by 40% or more if you meet specific eligibility requirements. Companies and a selection of discounts can be found below.
- GEICO includes discounts for seat belt use, multi-vehicle, membership and employees, military active duty, and anti-theft.
- SAFECO may offer discounts for teen safety rewards, safe driver, anti-lock brakes, multi-car, accident prevention training, and bundle discounts.
- State Farm offers discounts for safe vehicle, good driver, student away at school, Drive Safe & Save, accident-free, good student, and Steer Clear safe driver discount.
- MetLife discounts include good student, defensive driver, accident-free, multi-policy, claim-free, and good driver.
- 21st Century may include discounts for teen driver, 55 and older, student driver, theft prevention, and defensive driver.
- Progressive offers discounts including continuous coverage, homeowner, multi-policy, online quote discount, and good student.
The example below illustrates the difference between auto insurance rates with and without discounts being applied to the rates. The prices are based on a male driver, no claims or violations, Florida state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multiple policy, accident-free, multiple vehicle, marriage, vehicle safety, and defensive driving course discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on auto insurance for college graduates is 28% or $655.
Full coverage versus liability-only in Orlando
Buying cheaper auto insurance is probably important to the majority of people, and one of the fastest ways to pay less for insurance for college graduates is to only pay for liability coverage. The illustration below shows the comparison of car insurance rates with full coverage compared to only the Florida minimum liability coverage. The data is based on a clean driving record, no claims, $100 deductibles, single marital status, and no discounts are taken into consideration.
As an average for all age groups, comp and collision coverage costs $2,385 per year more than just buying liability insurance. At some point, about every driver wonders if buying full coverage is worth the money. There is no definitive formula to exclude physical damage coverage, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
Why you should be shopping around
Orlando, FL auto insurance rates are based on many factors which can substantially change the price of your policy. Simply turning a year older, marrying your spouse, or having a fender bender can trigger price changes that can now make some companies more affordable than before.
Also, auto insurance companies modify pricing as often as every three months in order to maintain liquidity for claims. A period of higher than normal claims may cause high rates, while a better claims history may cause lower-cost Orlando car insurance rates.
For instance, the chart below analyzes the cheapest car insurance in Orlando, FL for a 35-year-old female driver with no prior accidents, a clean driving record, and a good credit rating. If we compare prices based on her current risk factors, USAA quotes the most affordable car insurance rates in Orlando at $1,216 a year. This is $1,232 less than the average premium paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers are also included in the cheapest Orlando, FL auto insurance companies.
Now we will pretend the driver from the above example an accident claim, poor credit, and a traffic citation. Since every car insurance company uses their own calculation for establishing rates, comparing insurance quotes could now result in a completely different list of the cheapest Orlando car insurance companies as shown below.
USAA now has the lowest car insurance rate in Orlando, FL with Allied, State Farm, Esurance, and Auto-Owners completing the list. This example demonstrates why it is important to compare many different companies to get cheap auto insurance quotes for college graduates.
Insurance rates can be determined by many risk factors and change dramatically, so the cheapest company the last time you compared rates may now be priced much higher than other options.