How Much Does Auto Insurance Cost for College Graduates in Utah?

The words “low-priced” and “insurance” really shouldn’t be used together, in particular when searching for the cheapest coverage for college graduates. Because of the high cost, let’s familiarize you with a few of the things that determine insurance premiums, and figure out some ideas to cut the cost of your next policy.

Determining which insurers offer the lowest-priced insurance rates for college graduates takes a little more sweat than just getting one or two price quotes. Each company uses different criteria for determining rates in each state, so to begin we’ll rank the most budget-friendly insurance companies in Utah.

It’s a good idea to know that Utah insurance rates are based on many factors that will increase or decrease the cost of coverage. Simply improving your credit, having a claim, or getting a DUI may cause policy rate changes that can now make some companies affordable when they were higher priced.

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Bear River generally has some of the lowest car insurance rates in Utah at around $566 annually. USAA, Auto-Owners, American Family, and GEICO also qualify as some of the more affordable Utah auto insurance companies.

As the rates illustrate above, if you buy coverage from American Family and switched to Bear River, you could realize annual savings of in the vicinity of $418. Customers with GEICO could save as much as $457 a year, and Farm Bureau Mutual insureds might realize rate reductions of up to $460 a year.

These policy rates are averages for all insureds and vehicles and do not factor in a rate decrease for college graduates. So the auto insurance company that has the cheapest rates for you may not even be shown in the list of companies shown earlier. That’s why you need to compare rates from as many companies as possible using your own personal information and vehicle type.

The model of vehicle requiring coverage is a large factor when consumers are trying to find the most affordable insurance for college graduates. Vehicles with limited top-end speed, good safety features, or low incidents of liability claims will cost substantially less to insure than adrenaline junky models. The next lists illustrates coverage prices for a handful of the most cost-effective vehicles to buy insurance for.

Data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Utah minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Rates do not factor in specific Utah garaging location which can change prices substantially.

Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Utah minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Estimates do not factor in garaging location in Utah which can revise coverage rates noticeably.

Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Utah minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Rate information does not factor in specific location which can impact prices greatly.

When buying car insurance for college grads, one of the key considerations that car insurance companies take into consideration when calculating the price of your policy is where you choose to live in Utah. Cities that have higher claim levels or more people like Kearns, Millcreek, and West Valley City are more likely to pay higher prices, whereas areas with less people or fewer weather incidents tend to receive slightly lower rates.

The table below shows the priciest cities in Utah for college graduates to purchase a policy in.

Rates are estimated as specific Utah zip code can modify prices greatly.

Insurance companies ranked

Insuring your vehicle with the right insurance provider can be challenging considering how many different insurance companies sell coverage in Utah. The information in the next section could help you select which car insurance providers you want to consider when comparing rate quotes. The ratings below only include major nationwide insurance companies, so smaller regional companies will not be included in the list.

Top 10 Large Auto Insurance Providers in Utah Ranked by Value

1. USAA
2. American Family
3. The Hartford
4. The General
5. State Farm
6. AAA Insurance
7. Nationwide
8. Allstate
9. Esurance
10. Safeco

Top 10 Large Auto Insurance Providers in Utah Ranked by A.M. Best Rating

1. USAA – A++
2. Travelers – A++
3. GEICO – A++
4. State Farm – A++
5. The Hartford – A+
6. Esurance – A+
7. Nationwide – A+
8. Allstate – A+
9. Progressive – A+
10. The General – A-

Discounts on cheap insurance for college graduates in Utah

Insurers that offer coverage for college graduates may also give you rate discounts that can reduce rates by as much as 25% or more if you are eligible to receive them. A list of companies and their possible discounts include:

• State Farm offers premium reductions for good driver, Steer Clear safe driver discount, defensive driving training, accident-free, passive restraint, Drive Safe & Save, and good student.
• Esurance offers discounts including emergency road assistance, good student, multi-policy, online quote, homeowner, and multi-car.
• Progressive has discounts for online signing, good student, homeowner, continuous coverage, multi-policy, and online quote discount.
• Liberty Mutual may include discounts for safety features, new graduate, hybrid vehicle, newly married, and good student.
• Auto-Owners Insurance has savings for air bags, mature driver, safe driver, multiple vehicles, and teen driver.
• GEICO policyholders can earn discounts including emergency military deployment, five-year accident-free, federal employee, good student, anti-lock brakes, and seat belt use.

The diagram below shows the comparison of insurance premiums with and without discounts. The premiums assume a male driver, no claims, a clean driving record, Utah state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with anti-theft, vehicle safety, defensive driving course, multiple policy, passive restraint, and homeowner discounts applied. With discounts applied, the the average yearly reduction on insurance for college graduates is 28% or $522.

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Progressive vs Geico vs Allstate vs State Farm

When researching auto insurance for college grads in Utah, four companies you’ll want quotes from are Progressive, Geico, Allstate, and State Farm. The table below compares some of the different features .

Who has the cheapest insurance quotes for college grads?

You have a lot of ways to buy insurance in Utah, but the most prevalent are either through a captive (or exclusive) agency such as State Farm or Liberty Mutual, an independent or non-exclusive agent, or from a direct company like Geico or Progressive.

You can use whichever method you prefer, but they differ in how they provide price quotes.

Independent agencies write for multiple companies and can compare rates with all of them. These types of agents are not restricted to one company and can provide you with more rates, which can give you the best idea of how your rates compare. If premiums increase, they can switch companies in-house and the insured can keep the same agent.

An exclusive agent is only able to give prices for one insurance company, examples being Liberty Mutual and Allstate agents. This type of agents cannot provide multiple price quotes, so you will not be able to compare their rates to other companies.

The final way is buying direct, which means you forego an independent or exclusive agent and buy direct from companies such as Geico or Progressive. Shopping for insurance direct is good for drivers who do not need high levels of coverage and have a decent understanding of how insurance works and possible exclusions.

Which way is best to find cheap insurance for college graduates in Utah? We’d like to say buying direct results in the cheapest price because there are no middleman commissions, but unfortunately, that is not always true. A valid argument could also be made that buying from an independent agent is the best way since they can quote with many companies, but that assumption is not true either. In the right set of circumstances, exclusive agents have extremely competitive rates that independents and direct companies can’t touch.

Since insurance rates vary so much, the only real way to buy the cheapest coverage is to get as many comparison quotes as possible. The best approach is to get prices from all three in order to be able to find the lowest price. For a list of insurance companies with low rates, click here to view.