Finding out which company quotes the cheapest car insurance rates for college students will require a little more effort than just comparing a company or two. Each insurer uses a slightly different approach for establishing rates, so let’s look at the rankings for the car insurance companies with the most affordable rates in Seattle, WA.
It’s important to understand that Seattle, WA car insurance rates are determined by lots of factors which can substantially change the price you pay for coverage. Simply improving your credit, filing a claim, or getting a reckless driving citation can trigger changes in premium that can now make some companies cheaper in comparison to the competition.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Capital | $777 |
| 2 | Grange | $838 |
| 3 | Nationwide | $961 |
| 4 | PEMCO | $964 |
| 5 | Travelers | $1,038 |
| 6 | The Hartford | $1,048 |
| 7 | Mutual Enumclaw | $1,065 |
| 8 | California Casualty | $1,083 |
| 9 | USAA | $1,092 |
| 10 | Chubb | $1,116 |
| 11 | State Farm | $1,130 |
| 12 | Allied | $1,142 |
| 13 | American Family | $1,172 |
| 14 | Safeco | $1,228 |
| 15 | Amica | $1,256 |
| 16 | Liberty Mutual | $1,257 |
| 17 | Farmers | $1,369 |
| 18 | National General | $1,525 |
| 19 | Progressive | $1,525 |
| 20 | GEICO | $1,656 |
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Capital may offer some of the best car insurance rates in Seattle at around $777 a year. Grange, Nationwide, PEMCO, and Travelers would also be considered some of the lowest-priced Seattle, WA insurance companies.
As illustrated above, if you buy coverage from PEMCO and switched to Grange, you could see an annual savings of roughly $126. Customers with Travelers may save as much as $200 a year, and The Hartford insureds might realize rate reductions of up to $210 a year.
Be aware that those estimates are averages across all ages of drivers and types of vehicles and and are not calculated with a specific vehicle garaging location for college students. So the insurer that can offer you the lowest price may not even be in the list above. That’s why you need to quote rates from many companies using your own driver information and specific vehicle type.
The vehicle you are buying coverage for is one of the largest factors that determines whether or not you find the most affordable insurance for college students. Vehicles with high performance, poor safety ratings, or a track record of large liability claims will cost substantially more to insure than more economical and safe models. The next table estimates coverage premiums for the most budget-friendly vehicles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $3,187 |
| Ford Escape XLT 4WD | $3,233 |
| Honda CR-V EX-L 4WD | $3,239 |
| Toyota Prius | $3,484 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $3,575 |
| Ford Edge SEL AWD | $3,733 |
| Toyota RAV4 Limited 4WD | $3,779 |
| Chevrolet Impala LT | $3,788 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $3,826 |
| Dodge Grand Caravan Crew | $3,834 |
| Ford Explorer Limited 4WD | $3,826 |
| Ford F-150 Lariat Super Cab 2WD | $3,833 |
| Ford Focus SEL 4-Dr Sedan | $3,935 |
| Honda Odyssey EX-L | $3,981 |
| Toyota Corolla XLE | $3,986 |
| Hyundai Elantra GLS 4-Dr Sedan | $3,981 |
| Jeep Grand Cherokee SRT-8 4WD | $4,028 |
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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 Washington minimum liability limits. Discounts applied include safe-driver, and claim-free. Estimates do not factor in zip code location which can modify price quotes considerably.
Looking at the rates, cars like the Honda Accord, Ford Escape, Honda CR-V, Toyota Prius, and Jeep Wrangler will definitely be some of the most budget-friendly vehicles to insure for students in college. Car insurance rates will be more costly just due to the fact that there is more claim risk for college students, but in general those models will tend to have the lowest prices possible.
Full coverage rates compared to liability only
Reducing the cost of car insurance is probably important to the majority of vehicle owners, and a good way to find cheap insurance for college students is to only buy liability coverage. The information below illustrates the difference between auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Washington. The rates are based on no violations or claims, $100 deductibles, marital status is single, and no additional discounts are factored in.
Averaged out for all age groups, physical damage insurance costs $1,693 per year over having just liability coverage. That is a significant amount which raises the question if full coverage is worth the money. There is no definitive formula of when to stop paying for full coverage on your policy, but there is a general guideline. If the annual cost of your full coverage insurance is 10% or more of replacement cost minus your deductible, then you may want to consider only buying liability coverage.
For example, let’s assume your vehicle’s book value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $7,000 after paying the physical damage deductible. If premium cost is more than $700 a year for full coverage, then you might want to consider buying only liability coverage.
There are a few situations where only buying liability is not advised. If you still have a lienholder on your title, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
Irresponsible driving raises your rates
One of the best ways to enjoy affordable car insurance prices in Seattle for students in college is to be a cautious driver and not get tickets or have accidents. The chart below shows how traffic citations and at-fault fender-benders influence insurance prices for each age group. The price estimates are based on a single male driver, comp and collision included, $100 deductibles, and no discounts are applied.
The chart shows that the average cost of an auto insurance policy in Washington per year with no accidents or violations is $2,266. Add in one speeding ticket and the average cost increases to $2,551, an increase of $285 each year. Then add in one accident along with the one speeding ticket and the yearly cost of car insurance for college students goes up to an average of $3,372. That’s an increase of $1,106, or $92 per month, just for not keeping your driving record clean!
The diagram below highlights how deductible choice can raise or lower premium costs when quoting cheap insurance for college students. The information is based on a single male driver, comp and collision included, and no discounts are applied.
As shown above, a 40-year-old driver could pocket $292 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $438 by using a $1,000 deductible. Youthful drivers, such as the Age 20 example, could lower their rates as much as $956 every year just by using higher deductibles.
If you do raise deductibles, it is important to have emergency funds available to be able to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
How to find more affordable insurance for college students
It is possible to find better rates, and here are some of the recommended thrifty solutions that can help you buy low-cost auto insurance.
- Increase your credit score
- Drive vehicles with five-star safety ratings
- Higher deductibles mean lower rates
- Do not pay for full coverage on older vehicles
- At-fault accidents will increase rates
- Drive safely
- Shop around for cheaper prices
That final tip is extremely crucial, as we pointed out in this piece. Insurance rates can be changed at any time, so drivers shouldn’t hesitate to change insurance companies if a better rate can be found.
Sticking with a specific company is fine, but we do not recommend it if that stubbornness costs you hundreds of dollars year after year. Now is a great time to compare rates to find cheaper insurance for college students in Seattle.
The agencies below are a good start to help you determine which coverages you need, since some people have coverage questions and would like to have a professional recommendation when trying to find the best insurance rates for college students. It can be time-consuming to find the cheapest auto insurance company, and using a licensed agent can provide you satisfaction knowing your policy gives you adequate coverage if you have an accident or claim.
To find a Seattle insurance agency close to where you live, click the link after the list or click here to compare price quotes now.
- State Farm – Catherine Budbill
929 N 130th St #5 – Seattle, WA 98133 – (206) 361-3770 - Chris Gibbens – State Farm Insurance Agent
607 W McGraw St – Seattle, WA 98119 – (206) 331-4864 - Ezra Teshome – State Farm Insurance Agent
1510 14th Ave – Seattle, WA 98122 – (206) 322-3910 - Youkie Chambers – State Farm Insurance Agent
2505 3rd Ave #120 – Seattle, WA 98121 – (206) 441-5630 - Charles Cohen – State Farm Insurance Agent
9750 Greenwood Ave N #104 – Seattle, WA 98103 – (206) 784-5151