I’m sure you’ve seen the catchy advertisements from companies like Nationwide and Liberty Mutual that make claims of enormous savings. So you should just choose any one of them, right?
That is not the case, however, as there are many unknown elements such as how old you are, if you have a tendency to get pulled over, and the vehicle you drive, that all impact the cost of your policy. We will touch on some of these criteria and will hopefully give you a good start in finding the cheapest insurance in Massachusetts.
One of the more important considerations that aid in calculating insurance cost is where your residence is in Boston. Cities with larger populations tend to have more expensive auto insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims benefit from lower prices.
The table below sorts the most expensive places in Massachusetts for college students to purchase a policy in. Boston is ranked #7 with an annual cost of $1,805 for the average insurance policy, which is about $150 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Revere | $2,148 |
| 2 | Brockton | $2,143 |
| 3 | Lynn | $1,998 |
| 4 | Malden | $1,917 |
| 5 | Springfield | $1,908 |
| 6 | Lawrence | $1,839 |
| 7 | Boston | $1,805 |
| 8 | New Bedford | $1,750 |
| 9 | Worcester | $1,746 |
| 10 | Fall River | $1,649 |
| 11 | Somerville | $1,648 |
| 12 | Medford | $1,622 |
| 13 | Quincy | $1,596 |
| 14 | Lowell | $1,573 |
| 15 | Chicopee | $1,500 |
| 16 | Haverhill | $1,482 |
| 17 | Framingham | $1,446 |
| 18 | Cambridge | $1,446 |
| 19 | Weymouth | $1,446 |
| 20 | Taunton | $1,440 |
| Compare Rates Now Go | ||
Rate information is estimated as vehicle location can impact insurance rates noticeably.
The make and model of vehicle you are seeking coverage for is a large factor when comparing quotes for economical coverage for college students. Vehicles with limited speed and performance, an excellent safety record, or a low likelihood of liability claims will cost less to insure than high performance models. The table below showcases car insurance costs for a number of the most affordable automobiles to buy insurance for.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX-P 4-Dr Sedan | $2,862 |
| Honda CR-V LX 4WD | $2,867 |
| Ford Escape XLT 2WD | $2,862 |
| Hyundai Elantra GLS Touring Station Wagon | $2,869 |
| Toyota Prius | $3,131 |
| Ford Explorer XLT 4WD | $3,209 |
| Ford F-150 XLT Super Cab 4WD | $3,250 |
| Ford Edge SEL AWD | $3,348 |
| Chevrolet Impala LS | $3,353 |
| Ford Focus SE 4-Dr Sedan | $3,348 |
| Volkswagen Jetta LE 4-Dr Sedan | $3,392 |
| Dodge Grand Caravan Hero | $3,402 |
| Toyota RAV4 Limited 4WD | $3,392 |
| GMC Sierra SLE Crew Cab 2WD | $3,399 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $3,434 |
| Compare Rates Now Go | |
Table data assumes single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include claim-free, and safe-driver. Prices do not factor in specific Boston, MA garaging location which can change rates greatly.
Looking at the data, we can tell that makes and models like the Honda Accord, Honda CR-V, and Ford Escape are most likely to be some of the less-costly vehicles to insure for students in college. Car insurance rates will be more expensive just because there is more liability risk for college students, but generally speaking those makes and models will have the best rates compared to all other vehicles.
Deciphering which companies offer the lowest-priced insurance rates for college students takes a little more effort in order to find the lowest price. Every car insurance company has their own process for establishing rates, so we’ll go over the insurance companies with the overall cheapest rates in Boston.
Find the Best Cheap Insurance for College Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | State Farm | $741 |
| 2 | National Grange Mutual | $823 |
| 3 | GEICO | $842 |
| 4 | Commerce Group | $875 |
| 5 | OneBeacon | $912 |
| 6 | Arbella | $1,000 |
| 7 | Progressive | $1,029 |
| 8 | Norfolk and Dedham | $1,036 |
| 9 | USAA | $1,044 |
| 10 | Amica | $1,131 |
| 11 | Vermont Mutual | $1,284 |
| 12 | Quincy Mutual | $1,294 |
| 13 | Travelers | $1,297 |
| 14 | Hanover | $1,345 |
| 15 | Safety Group | $1,352 |
| 16 | Peerless | $1,442 |
| 17 | MetLife | $1,454 |
| 18 | Plymouth Rock | $1,541 |
| 19 | Liberty Mutual | $1,789 |
| 20 | Allstate | $1,808 |
| Find Cheaper Rates Go | ||
State Farm generally has some of the most affordable car insurance rates in Boston at around $741 annually. National Grange Mutual, GEICO, Commerce Group, and OneBeacon also rank well as some of the cheaper Boston, MA insurance companies.
In this example, if you currently have coverage with GEICO and switched to State Farm, you might achieve annual savings of upwards of $101. Insureds with Commerce Group could save as much as $134 a year, and OneBeacon insureds might realize rate reductions of up to $171 a year.
To discover how much you can save, click here to start your free quote or visit any of the low-priced companies below.
Bear in mind that those policy prices are averaged for all types of insureds and vehicles and do not factor in a specific location for college students. So the insurer that fits your needs best may not even be in the top 21 companies in the list above. That helps illustrate why you need to compare rates from as many companies as possible using your own specific driver and vehicle information.
Full coverage rates vs. liability-only
Finding cheaper insurance is important to most drivers, and an easy way to reduce the cost of insurance for college students is to only buy liability insurance. The diagram below shows the comparison of premium costs with full physical damage coverage and with liability coverage only. The data assumes no tickets, no at-fault accidents, $250 deductibles, single marital status, and no discounts are applied to the premium.
If averaged for all ages, full coverage costs an extra $2,387 per year more than just insuring for liability. At some point, about every driver wonders when is it a good idea to stop buying full coverage. There is no definitive formula of when to exclude physical damage insurance, but there is a guideline you can consider. If the annual cost of having full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.
There are a few cases where removing full coverage is not advised. If you still have a lienholder on your title, you are required to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not drop full coverage.
Picking a highly-rated company is hard considering how many different companies there are to choose from in Boston. The company information displayed below may help you decide which auto insurers you want to consider when trying find the best insurance for college students. The rankings below are only comprised of the largest companies in the United States, so companies without a large exposure are not taken into consideration for these rankings.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| The Hartford | 88 | 96 | 91 | 93% | A+ | 92.6 |
| Progressive | 84 | 94 | 99 | 90% | A+ | 92.4 |
| Travelers | 84 | 93 | 100 | 87% | A++ | 92.3 |
| State Farm | 84 | 93 | 95 | 87% | A++ | 91 |
| Farmers Insurance | 87 | 92 | 90 | 85% | A | 90.6 |
| Safeco Insurance | 85 | 91 | 87 | 86% | A | 88.4 |
| USAA | 71 | 93 | 98 | 87% | A++ | 88 |
| GEICO | 73 | 93 | 95 | 85% | A++ | 87.1 |
| Liberty Mutual | 72 | 91 | 97 | 83% | A | 86.4 |
| AAA Insurance | 85 | 85 | 88 | 86% | A | 85.8 |
| Allstate | 69 | 92 | 92 | 83% | A+ | 84.4 |
| American Family | 77 | 96 | 80 | 85% | A | 83.8 |
| Esurance | 70 | 80 | 89 | 77% | A+ | 79.2 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
How to get discounts on Boston insurance
Insurers that sell policies for college students could also offer discounts that may potentially lower prices by as much as 35% if you meet eligibility requirements. Companies and some of the premium reductions they offer can be found below.
- Mercury Insurance policyholders can earn discounts including anti-theft, age of vehicle, ease of repair, type of vehicle, location of vehicle, and low natural disaster claims.
- Farmers Insurance has savings for homeowner, mature driver, electronic funds transfer, teen driver, and switch companies.
- Farm Bureau offers discounts including driver training, multi-vehicle, renewal discount, good student, and youthful driver.
- State Farm may have discounts that include anti-theft, driver’s education, safe vehicle, passive restraint, good driver, and accident-free.
- Allstate offers discounts for eSmart discount, good student, utility vehicle, early signing, safe driver, and anti-lock brakes.
- GEICO offers premium reductions for good student, anti-theft, daytime running lights, multi-policy, federal employee, and membership and employees.
The information below compares insurance rates with and without discounts applied. The data assumes a female driver, no claims, a clean driving record, Massachusetts state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with paid-in-full, passive restraint, continuous coverage, good student, anti-theft, and vehicle safety discounts applied. With discounts applied, theaverage yearly reduction on insurance for college students is 21% or $286.
How to find economical insurance for college students
The list below shows some of the recommended thrifty suggestions that can help you locate more affordable coverage.
- Save money by observing traffic laws and speed limits
- Buy vehicles with good safety ratings
- Maintain a safe distance and avoid accidents
- Improve your credit
- Save money by staying claim-free
- Look for cheaper rates once a year by shopping around
The last tip is extremely critical, as was pointed out in the prior article. Rates change a lot, so drivers shouldn’t be resistant to buy a different policy if you can find a cheaper rate.
Many drivers tend to have loyalty to a certain company, but is isn’t recommended if your bullheadedness ends up costing you several hundred dollars every year. It only takes a couple minutes to compare rates to find cheaper auto insurance for college students in Boston.
If you aren’t clear which coverage you need and would like to get help from a professional when comparing insurance rates for students in college, the agents listed below can most likely provide answers to your questions and help you determine which coverage fits your budget. To locate a Boston car insurance agency in your neighborhood, click the button below the list or click here to compare prices now.
Knapp Schenck Insurance Services
1 India St #204 – Boston, MA 02109 – (617) 742-3366
State Fund Insurance
#1601, 100 Summer St – Boston, MA 02110 – (617) 956-9999
One Call Insurance
121 Tremont St – Boston, MA 02135 – (617) 782-2255
Lighthouse Insurance Agency
470 W Broadway – Boston, MA 02127 – (617) 464-3777
Paul Lymneos Insurance Agency
4258 Washington St Suite 8 – Roslindale, MA 02131 – (617) 327-3870