The car, truck, or SUV driven is a significant factor when trying to find the best cheap insurance for college graduates. Vehicles with high performance features, poor passenger safety features, or a high likelihood of having liability claims will cost much more to insure than safer, lower-performance models.
The next list features car insurance rates for the most budget-friendly automobiles to insure in Missouri.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 2WD | $1,454 |
| Ford Edge SEL 2WD | $1,511 |
| Jeep Grand Cherokee Laredo 4WD | $1,539 |
| Toyota Tacoma Double Cab 4WD | $1,546 |
| Toyota RAV4 Sport 4WD | $1,539 |
| Toyota Prius | $1,580 |
| Ford Escape Limited 4WD | $1,588 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $1,616 |
| Chevrolet Silverado LS Regular Cab 4WD | $1,624 |
| Toyota Corolla S | $1,621 |
| Honda Odyssey EX-L | $1,629 |
| Hyundai Elantra SE 4-Dr Sedan | $1,621 |
| Nissan Rogue S 2WD | $1,647 |
| Volkswagen Jetta 2.0T Station Wagon | $1,673 |
| Chevrolet Silverado 3500HD LT Crew Cab 2WD | $1,680 |
| Ford Explorer Eddie Bauer 4WD | $1,716 |
| Ford F-150 Lariat Crew Cab 4WD | $1,724 |
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Prices above based on single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Missouri minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Price estimates do not factor in specific location which can decrease or increase coverage rates significantly.
By looking at the data, we can conclude that cars like the Honda CR-V, Ford Edge, and Jeep Grand Cherokee are going to be some of the most affordable vehicles to insure for college grads.
Finding decent, low-priced car insurance is hard enough, and determining which company offers the best insurance rates for college graduates will involve even more shopping around. Each auto insurer has a proprietary formula for determining prices, so let’s begin by taking a look at the insurance companies with the most affordable rates in Kansas City, MO.
Lowest Insurance Price Quotes for Grads
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $668 |
| 2 | The Hartford | $793 |
| 3 | Allied | $849 |
| 4 | Electric | $875 |
| 5 | Travelers | $998 |
| 6 | Auto-Owners | $1,037 |
| 7 | MO Farm Bureau | $1,052 |
| 8 | Nationwide | $1,131 |
| 9 | Farmers | $1,151 |
| 10 | Cameron Mutual | $1,202 |
| 11 | State Farm | $1,258 |
| 12 | American Family | $1,291 |
| 13 | Safe Auto | $1,363 |
| 14 | Safeco | $1,370 |
| 15 | Shelter | $1,404 |
| 16 | MetLife | $1,415 |
| 17 | Progressive | $1,424 |
| 18 | GEICO | $1,448 |
| 19 | California Casualty | $1,469 |
| 20 | Auto Club | $1,488 |
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USAA offers some of the cheapest car insurance rates in Kansas City at around $668 a year. The Hartford, Allied, Electric, and Travelers also rank well as some of the best Kansas City, MO auto insurance companies.
As shown in the table above, if you currently buy coverage from The Hartford and switched to USAA, you may see yearly savings of about $125. Insureds with Allied might save as much as $181 a year, and Electric customers might cut rates by $207 a year.
Remember that these premiums are averages for all drivers and vehicles and and are not figured with a vehicle location for college graduates. So the auto 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 get rate quotes using your own driver and vehicle profiles.
Cost difference between full coverage and liability
Saving money when shopping for insurance is the goal of most vehicle owners, and a great way to buy cheaper insurance for college graduates is to not insure for full coverage. The illustration below illustrates the difference between car insurance rates with full physical damage coverage and with liability coverage only. The premium estimates are based on no claims, a clean driving record, $100 deductibles, single status, and no additional discounts are factored in.
Averaged for all ages 20 through 70, physical damage coverage costs $2,087 per year over having just liability coverage. That is a large expense and it proposes the question if physical damage coverage is worth the money. There is no written rule to stop paying for full coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is more than 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
There are some scenarios where removing full coverage is not advised. If you haven’t paid off your loan, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle if your current one is totaled, you should maintain full coverage.
The example below shows how choosing a deductible can increase or decrease premium costs when getting quotes for cheap insurance for college graduates. The premiums are based on a married female driver, full physical damage coverage, and no other discounts are factored in.
A 50-year-old driver could cut expenses by $216 a year by switching from a $100 deductible to a $500 deductible, or save $328 by switching to a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could shave $542 every year by using a higher deductible.
If you do raise deductibles, it is essential to have plenty of savings on hand to cover the extra out-of-pocket expense, which is the main disadvantage of using high deductibles.
Impact of careless driving on insurance rates
The recommended way to score cheap insurance prices in Missouri for college grads is to drive attentively and avoid getting tickets or having accidents. The information below shows how traffic citations and at-fault accidents can increase insurance prices for different insured age categories. The costs are based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no policy discounts are applied.
The data charted above shows the average cost of a car insurance policy per year with no violations or accidents is $1,597. Receive one speeding ticket and the average cost hikes up to $1,835, an increase of $238 each year. Then add in two accidents along with the one speeding ticket and the 12-month cost of insurance for college graduates jumps again to an average of $3,901. That’s an increase of $2,304, or $192 per month, just for not paying attention while driving!