You have most likely watched the catchy commercials from auto insurance companies like Farmers and Nationwide that promise the cheapest price, so you just need to pick the company with the best ad, right?
Unfortunately, it’s just not that easy, as there are a lot of unknown aspects such as how experienced of a driver you are, if you need full coverage or just liability, if you own your own home, and what coverage limits you want, that all factor into the price you pay. If you keep reading, we will teach you about the best ways to save money and also should give you a good start in finding the cheapest insurance in Texas.
For college grads, one of the largest things that are looked at to help calculate the annual cost of car insurance is where your car is garaged in Lubbock. Larger areas likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower rates.
The next table rates the most expensive areas in Texas for college graduates in which to buy car insurance. Lubbock comes in at #15 with the annual price of $1,665 for the average policy, which is around $139 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | McAllen | $1,956 |
| 2 | Houston | $1,909 |
| 3 | Brownsville | $1,908 |
| 4 | Laredo | $1,907 |
| 5 | Dallas | $1,893 |
| 6 | Mesquite | $1,807 |
| 7 | Pasadena | $1,794 |
| 8 | Amarillo | $1,786 |
| 9 | Garland | $1,778 |
| 10 | Grand Prairie | $1,757 |
| 11 | Beaumont | $1,754 |
| 12 | Irving | $1,736 |
| 13 | San Antonio | $1,722 |
| 14 | Fort Worth | $1,670 |
| 15 | Lubbock | $1,665 |
| 16 | Carrollton | $1,664 |
| 17 | Arlington | $1,642 |
| 18 | Corpus Christi | $1,620 |
| 19 | Austin | $1,610 |
| 20 | McKinney | $1,609 |
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Price information shown is estimated as the specific zip code location can decrease or increase auto insurance rates substantially.
The vehicle you are trying to insure is a large factor that determines the availability of economical car insurance for college graduates. Vehicles with lower performance, advanced safety features, or low incidents of liability claims will cost less to insure than higher performance models.
The list below outlines coverage prices for some of the cheapest vehicles to insure in Texas.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 2WD | $1,042 |
| Toyota Prius | $1,129 |
| Honda Accord LX-P 4-Dr Sedan | $1,165 |
| Dodge Grand Caravan Hero | $1,207 |
| Ford Fusion S 4-Dr Sedan | $1,216 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $1,229 |
| Ford Explorer Limited 4WD | $1,238 |
| Honda Civic EX 4-Dr Sedan | $1,243 |
| Hyundai Elantra GLS Touring Station Wagon | $1,248 |
| Ford Escape XLS 4WD | $1,253 |
| Ford Edge Sport AWD | $1,268 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,310 |
| Toyota Camry Hybrid | $1,376 |
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Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Premium amounts do not factor in garaging location in Lubbock, TX which can decrease or increase auto insurance rates significantly.
Based upon the rates shown, models like the Honda CR-V, Toyota Prius, Honda Accord, and Dodge Grand Caravan will definitely be the most budget-friendly vehicles to insure for college grads.
Shopping around for low-priced auto insurance is not the easiest thing to accomplish, and determining which companies have the cheapest auto insurance rates for college graduates requires a bit more work. Every car insurance company uses their own formula to set premium rates, so let’s take a look at the overall cheapest auto insurance companies in Lubbock, TX.
It’s important to know that Lubbock auto insurance rates are calculated based on many things that control the price you have to pay. Improving your credit score, buying a home instead of renting, or having a fender bender may cause policy rate changes resulting in some companies being cheaper than before.
Find the Best Cheap Insurance for Grads
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,041 |
| 2 | USAA | $1,128 |
| 3 | Texas Farm Bureau | $1,235 |
| 4 | Germania Mutual | $1,282 |
| 5 | Esurance | $1,379 |
| 6 | California Casualty | $1,396 |
| 7 | State Farm | $1,495 |
| 8 | Mercury | $1,521 |
| 9 | Nationwide | $1,538 |
| 10 | Safe Auto | $1,597 |
| 11 | Progressive | $1,698 |
| 12 | Allstate | $1,701 |
| 13 | Amica | $1,705 |
| 14 | GEICO | $2,093 |
| 15 | Home State | $2,134 |
| 16 | MetLife | $2,227 |
| 17 | Unitrin | $2,241 |
| 18 | Encompass | $2,255 |
| 19 | 21st Century | $2,494 |
| 20 | Titan | $2,594 |
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Travelers normally has some of the most affordable car insurance rates in Lubbock at around $1,041 annually. USAA, Texas Farm Bureau, Germania Mutual, and Esurance also rank well as some of the cheaper Lubbock, TX auto insurance companies.
As illustrated above, if you are currently insured with Germania Mutual and switched to USAA, you might realize an annual savings of roughly $154. Policyholders with Esurance may save as much as $251 a year, and California Casualty policyholders might reduce prices by as much as $268 a year.
If you want to find out if you’re overpaying, click here to start your free quote or click several companies below for low rates.
These policy rates are averaged for all drivers and vehicles in Texas and and are not calculated with an exact zip code location for college graduates. So the auto insurance company that is best suited for you may not even be in the list above. That affirms the importance of why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.
Discount Lubbock auto insurance
Insurance providers that provide policies for college graduates may have special discounts that could potentially reduce rates by as much as 40% or more if you are eligible for them. A list of auto insurance companies and a partial list of their discounts can be found below.
- Farm Bureau may have discounts that include multi-vehicle, renewal discount, youthful driver, driver training, and 55 and retired.
- MetLife has savings for multi-policy, good driver, defensive driver, good student, and accident-free.
- Progressive offers discounts including multi-vehicle, online signing, online quote discount, good student, continuous coverage, homeowner, and multi-policy.
- AAA has discounts for anti-theft, good student, multi-car, good driver, education and occupation, and AAA membership discount.
- American Family may include discounts for TimeAway discount, early bird, accident-free, multi-vehicle, Steer into Savings, air bags, and defensive driver.
- GEICO includes discounts for multi-policy, military active duty, anti-theft, anti-lock brakes, and emergency military deployment.
- State Farm offers premium reductions for passive restraint, student away at school, Drive Safe & Save, safe vehicle, multiple autos, and good driver.
The diagram below illustrates the comparison of insurance premiums with and without policy discounts. The premiums are based on a female driver, no accidents, no driving violations, Texas state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with multiple vehicle, multiple policy, homeowner, vehicle safety, marriage, and accident-free discounts applied. When discounts are factored in, theamount saved on auto insurance for college graduates is 28% or $578.
Drive responsibly or pay higher rates
The easiest method to enjoy good auto insurance premiums for college grads is to be an attentive driver and not receive tickets or have accidents. The example below shows how traffic citations and accidents can impact insurance costs for different insured age categories. The information is based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
In the prior example, the average cost of an auto insurance policy in Lubbock per year with no accidents and a clean driving record is $1,598. Receive one speeding ticket and the average cost jumps to $1,804, an increase of $206 each year. Then include two accidents along with the one speeding ticket and the yearly cost of auto insurance for college graduates increases to an average of $3,736. That’s an increase of $2,138, or $178 per month, just for not keeping your driving record clean!
Why you should be shopping around
Lubbock, TX auto insurance rates are impacted by many factors which can substantially change the cost of coverage. Getting older, buying another vehicle, or getting a speeding ticket can cause premium changes that can cause some rates to be cheaper than competitors. In addition, insurers file new Texas auto insurance rates without warning as an adjustment for underwriting gains or losses. Significantly higher losses may result in increased policy costs, while a profitable period can cause more affordable Lubbock car insurance rates.
For instance, the graph below shows which company has the cheapest car insurance in Lubbock, TX for a 40-year-old female driver with a good driving record, no prior claims, and a decent credit rating. If we estimate prices based on her personal risk profile, Travelers has the lowest car insurance rates in Lubbock at $1,157 a year. This is $747 less than the average premium paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also included in the top five cheapest Lubbock, TX auto insurance companies.
The next chart shows rates after we give the driver from the above example some claims, a lower credit rating, and a few blemishes on her driving record. Since each company has a proprietary formula to set their prices, comparing insurance quotes may now result in a completely different list of the cheapest car insurance companies in Lubbock as shown below.
Mercury now has the best auto insurance rate in Lubbock, TX with State Farm, Safe Auto, USAA, and Nationwide now rounding out the top five. This illustrates why consumers need to shop around with many companies when trying to find the lowest auto insurance rates for college graduates.
Insurance rates are calculated by many things and can change without notice, so the best company a year ago may now not even be in the top five.