*These ratings are based on our overall study, but providers are ranked by how they performed in our study of car insurance for college students. Rate estimates in this table and others are based on the profile of a 24-year-old driver, the youngest age for which data is available.
#1 State Farm: Most Popular Provider
Better Business Bureau (BBB) rating: A+
AM Best financial strength: A++
J.D. Power claims satisfaction: 892/1,000
With 15.9% market share according to the National Association of Insurance Commissioners (NAIC), State Farm is the country’s most popular car insurance provider. The company particularly excels when it comes to car insurance for college students.
State Farm offers a number of opportunities for students to save money, including both good student and student away at school discounts. The company also has two telematics programs, with Steer ClearⓇ specifically tailored to newer drivers. In addition to monitoring driving behavior, Steer Clear includes a driver training course and typically leads to lower rates upon completion.
Keep reading: State Farm insurance review
#2 USAA: Low Rates for Military
BBB rating: A+
AM Best financial strength: A++
J.D. Power claims satisfaction: 909/1,000
USAA typically offers some of the lowest rates on car insurance, with college students often receiving deals. The company also scores near the top of various insurance industry studies. Remember that USAA coverage is only available to military members, veterans and their families.
If you do qualify, USAA is definitely worth a look. In addition to already high-quality and cheap car insurance coverage, college students may be able to qualify for multiple discounts to bring costs down. The company also has a few specialized products and policies for military members and military families that may prove useful.
Keep reading: USAA insurance review
#3 Geico: Editor’s Choice
BBB rating: A+
AM Best financial strength: A++
J.D. Power claims satisfaction: 881/1,000
Geico won our Editor’s Choice award in a study of the best car insurance companies for its superb overall performance. The company offers highly rated coverage and affordable rates to various drivers, including most college students.
Geico also offers a wide range of insurance options including high coverage limits that may come in handy for inexperienced drivers. Students who rarely use their vehicle while at college could also benefit from the company’s usage-based auto insurance policy.
Keep reading: Geico insurance review
#4 Progressive: Low Rates for High-Risk Drivers
BBB rating: Not rated
AM Best financial strength: A+
J.D. Power claims satisfaction: 862/1,000
Although the company offers reasonable rates to most motorists, Progressive has specialized in serving high-risk drivers for decades. With statistics ranking college students among the riskiest of groups, Progressive is worth consideration.
The company offers both good student and distant student discounts, along with a relatively rare discount specifically intended for teen drivers. This could help bring the cost of car insurance from Progressive down for younger college students.
Keep in mind that Progressive has a below-average rate of customer satisfaction due to how it deals with claims. Our team reached out to Progressive for comment on its claims process but did not receive a response.
Keep reading: Progressive insurance review
#5 Travelers: Most Coverage Options
BBB rating: A
AM Best financial strength: A++
J.D. Power claims satisfaction: 871/1,000
Travelers is another major provider that offers reasonable rates on car insurance for college students. College students can take advantage of many discounts to keep coverage rates on the lower end. In addition to student discounts, the company offers savings for completing a defensive driving course and for insuring hybrid or electric vehicles. And, the company’s optional accident forgiveness program can keep your premiums from soaring after an accident.
Travelers receives a less-than-stellar score for its claims process, receiving only 871 points out of 1,000 in the J.D. Power 2021 U.S. Auto Claims Satisfaction Study℠. We reached out to Travelers for a comment on its claims process but never received a response.
Keep reading: Travelers insurance review
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