Comparing rates for budget car insurance is not the easiest thing to accomplish, and finding out which insurers offer the lowest-priced car insurance rates for college students will take a bit more work.
Each auto insurer has a unique formula for establishing rates, so we’ll take a look at the most budget-friendly car insurance companies in Texas. It’s important that you understand Dallas car insurance rates are determined by lots of factors which can substantially decrease or increase the cost of having a policy. This price variability is why Dallas drivers need to perform an extensive rate comparison when trying to find the lowest car insurance rates for college students. Insurance rates are made up of many factors and can increase or decrease at any time, so the most economical company two years ago may now be an over-priced policy.
Find the Cheapest Car Insurance for College Students
Travelers offers some of the cheapest car insurance rates in Dallas at around $1,041 annually. This is $863 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty also rank well as some of the lowest-priced Dallas, TX auto insurance companies.
As depicted above, if you have coverage with Germania Mutual and switched to USAA, you may see annual savings of upwards of $127. Customers with California Casualty may save as much as $265 a year, and Esurance insureds might lower prices by up to $304 a year.
Remember that these policy rates are averaged for all ages of drivers and types of vehicles and and are not figured with an exact location for college students. So the car insurance company that has the lowest price for you may not even be in the top 23 companies shown above. That helps illustrate why you need to compare as many prices as possible using your own driver information and specific vehicle type.
The vehicle needing coverage is probably the most important factor when quoting cheap car insurance for college students. Vehicles with reasonable performance levels, advanced safety features, or a low likelihood of liability claims will cost quite a bit less to insure than fast, unsafe models. The next table shows insurance rates for a selection of the most affordable vehicles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 2WD||$3,109|
|Ford Escape XLS 2WD||$3,119|
|Honda Accord EX-L 4-Dr Sedan||$3,383|
|Ford Explorer Eddie Bauer 2WD||$3,459|
|Toyota Tacoma 4WD||$3,468|
|Ford Edge SE AWD||$3,644|
|Honda Odyssey EX||$3,652|
|Chevrolet Malibu Hybrid||$3,689|
|Toyota RAV4 Limited 2WD||$3,699|
|Volkswagen Jetta LE 4-Dr Sedan||$3,689|
|Dodge Grand Caravan SXT||$3,736|
|Ford F-150 Lariat Super Cab 2WD||$3,745|
|Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr||$3,736|
|Ford Focus SES 4-Dr Sedan||$3,876|
|Toyota Corolla LE||$3,921|
|Chevrolet Impala LTZ||$3,929|
|Hyundai Elantra GLS 4-Dr Sedan||$3,921|
|Nissan Rogue S 2WD||$3,955|
|Hyundai Sonata GLS 4-Dr Sedan||$3,964|
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Table data represents single male driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, and claim-free. Rates do not factor in specific location which can impact coverage prices considerably.
Based upon the table data, makes and models like the Honda CR-V, Ford Escape, Honda Accord, and Toyota Prius will definitely be some of the cheaper vehicles to insure for students in college. Auto insurance rates will be more costly because of the fact that there is more claim risk for college students, but generally speaking those particular vehicles will most likely have the lowest insurance rates available.
One of the more important components that determine insurance cost is your zip code in Dallas. Cities with larger populations are more likely to have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates get the luxury of paying less.
The illustration below ranks the most expensive cities in Texas for college students to buy an auto insurance policy in. Dallas comes in at #3 with an annual cost of $1,911 for the average policy, which is around $159 each month.
|Rank||City||Premium Per Year|
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Premium costs are estimated as specific Dallas zip code can alter insurance rates noticeably.
The illustration below illustrates how choosing a deductible can affect insurance prices when researching cheap insurance for college students. The rates are based on a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
In the chart above, a 40-year-old driver could lower their policy premium by $358 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $540 by changing to a $1,000 deductible. Young drivers, such as the 20-year-old chart data, could reduce their rates as much as $1,206 every year just by choosing higher deductibles when buying full coverage. If you do raise deductibles, it is important to have plenty of savings on hand to enable you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Finding a highly-rated insurer can be a challenge considering how many companies there are in Dallas. The ranking information listed below may help you pick which car insurance providers to look at comparing rates with. These rankings are for companies that insure vehicles nationwide, so companies that only write business in Texas or surrounding areas are not taken into consideration for this list.
Top 10 Large Car Insurance Companies in Dallas Ranked by A.M. Best Rating
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
Top 10 Large Car Insurance Companies Overall in Dallas
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
Illustration showing the impact of accidents and violations
A great way to find the cheapest car insurance prices in Dallas for students in college is to drive safe and avoid getting tickets or having accidents. The chart below highlights how traffic violations and fender-benders can affect insurance costs for different categories of driver ages. The rates are based on a married female driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
In the chart above, the average cost of auto insurance in Dallas per year with a clean driving record and no accidents is $1,542. Get written up for one speeding ticket and the average cost hikes up to $1,795, an increase of $253 each year. Now get two accidents along with the one speeding ticket and the yearly cost of car insurance for college students jumps again to an average of $3,981. That’s an increase of $2,439, or $203 per month, just for a couple of infractions!
The professional agents shown below are willing to help you decide which auto insurance coverages would be the best in your situation, as some people have coverage questions and would like to get some help when shopping for the best coverage for college students. It’s not always simple to find coverage yourself, so using a licensed agent can bring satisfaction knowing you have adequate protection in case of an accident or claim. To locate a Dallas insurance agent nearest to you, click the button at the bottom of the list or click here to compare price quotes now.
- Richard Ramirez – State Farm Insurance Agent
9400 N Central Expy #120 – Dallas, TX 75231 – (214) 320-3000
- Mike Baker – State Farm Insurance Agent
3400 Carlisle St Ste 470 – Dallas, TX 75204 – (214) 780-0900
- Associations Insurance Agency, Inc.
5401 N Central Expy Suite 200 – Dallas, TX 75205 – (866) 384-8579
How to find low-cost auto insurance for college students
It is possible to find better rates, and here are some of the better money-saving solutions that can help Texas drivers locate low-cost coverage.
- Drive safely
- Higher comprehensive and collision coverage deductibles will save money
- Pay for small claims rather than turning them in to your insurance company
- Do not pay for full coverage on older vehicles
- At-fault accidents can raise rates significantly
- Comparison shop at least once a year
The final tip is incredibly necessary, as was noted in this piece. Coverage prices adjust often, so don’t be afraid to switch carriers if a better rate can be found.
Having a favorite company is fine, but it’s not a great idea if that inflexibility results in costing you lots of money. Now is a great time to compare prices and find cheaper auto insurance for college students in Dallas.