The words “low-priced” and “insurance” probably shouldn’t be used in the same sentence, in particular when shopping around for the lowest insurance rates for college graduates. In an attempt to save some money, let’s familiarize you with some situations that can significantly affect car insurance premiums, and find out if you can lower the cost of your next policy.
For college grads, one of the more important components that determine auto insurance rates is your address in Buffalo. Cities with larger populations likely pay more, whereas areas that tend to be more rural get the luxury of paying less.
The next table rates the most expensive areas in New York for college graduates to purchase car insurance in. Buffalo comes in at #13 with an annual rate of $1,488 for coverage, which is about $124 each month.
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Annual rates are approximated as specific Buffalo garaging address can affect price quotes substantially.
The make and model of vehicle you are insuring is a significant factor in finding economical car insurance for college graduates. Vehicles with high performance engines, poor safety ratings, or a track record of large liability claims will cost significantly more to insure than more modest models.
The next list showcases insurance rates for some of the more affordable vehicles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$2,340|
|Honda CR-V EX 2WD||$2,350|
|Ford F-150 XL Crew Cab 2WD||$2,393|
|Ford Explorer XLT 4WD||$2,399|
|Toyota RAV4 Limited 4WD||$2,528|
|Jeep Grand Cherokee Laredo 4WD||$2,537|
|Hyundai Elantra SE Touring Station Wagon||$2,614|
|Ford Focus SES 4-Dr Sedan||$2,620|
|Toyota Corolla XLE||$2,667|
|Toyota Tacoma 2WD||$2,716|
|Dodge Grand Caravan CV||$2,719|
|Chevrolet Silverado 3500HD LT Crew Cab 2WD||$2,762|
|Dodge Ram 3500 Crew Cab ST 2WD||$2,812|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$2,844|
|GMC Sierra 2500HD SLT Extended Cab 4WD||$2,851|
|Honda Accord LX-S 2-Dr Coupe||$2,859|
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Prices above based on single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New York minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Estimates do not factor in vehicle garaging location which can affect insurance rates noticeably.
Looking at the numbers, models like the Ford Escape, Honda CR-V, and Toyota Prius are the cheapest vehicles to insure for college grads.
Ending up with the highest-rated insurer can be a challenge considering how many different companies there are to choose from in Buffalo. The ranking data displayed below may help you decide which companies to look at buying from.
The ratings below include insurance companies that insure vehicles in the majority of U.S. states, so smaller companies that only insure vehicles in New York will not be included in the list. To compare prices from many more New York auto insurance companies, just click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Drive safe and save
In a perfect world, the ideal way to enjoy affordable car insurance rates in Buffalo for college grads is to be a safe driver and avoid accidents and keep your driving record clean. The illustration below shows how speeding tickets and at-fault collisions can drive up yearly insurance costs for different categories of driver ages. Data assumes a single female driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.
In the previous example, the average cost of auto insurance in New York per year with no accidents or violations is $1,069. Factor in two speeding tickets and the average cost surges to $1,420, an increase of $350 each year. Now include one accident along with the two speeding tickets and the annual cost of car insurance for college graduates goes up to an average of $1,776. That’s an increase of $706, or $59 per month, just for being a less-than-perfect driver!
Why you should be shopping around
New York car insurance rates are based on many factors that will increase or decrease the cost of a policy. Simply turning a year older, increasing liability limits, or having an accident can trigger rate changes that can cause some rates to be more affordable than others.
Not only that, but car insurance companies file new New York car insurance rates at least once a year to ensure their profitability. Significantly higher claims may result in additional price hikes, while a profitable period may produce more affordable Buffalo car insurance rates.
For example, the bar chart below shows rates for the cheapest car insurance in Buffalo, NY for a 40-year-old female driver with a good driving record, no prior claims, and great credit. If we compare prices based on her current situation, USAA may have the cheapest car insurance rates in Buffalo at $1,975 per year. This is $100 less than the average rate paid by New York drivers of $2,075. Erie, Allstate, Utica National, and Progressive also make the list of the cheapest Buffalo, NY auto insurance companies.
The example below compares rates after we give the driver from the first rate comparison a claim, a lower credit rating, and a speeding citation. Due to the fact that every auto insurer uses their own formula for establishing rates, comparing prices may result in a significantly different list of the cheapest Buffalo car insurance companies as shown below.
MetLife now has the lowest car insurance rate in Buffalo with Amica, Erie, Preferred Mutual, and New York Central Mutual now rounding out the top five. This example demonstrates why drivers need to shop around to get the most budget-friendly insurance quotes for college graduates. Prices can be determined by many different factors and change frequently, so the best option the last time you compared rates may now be wasting a lot of money.
The agents shown below are a good start to answer your questions and help you decide which auto insurance policy would work best for you, since lots of drivers aren’t clear which coverage they need and would like to have some advice when comparing insurance rates for college graduates. It can be difficult to find the best policy on your own, and insurance agents can provide satisfaction knowing you have suitable coverage if you ever need to use it. To locate a Buffalo car insurance agency in your neighborhood, click the link after the list or click here to compare rates now.
- Niagara Montauk Insurance
1547 Hertel Ave – Buffalo, NY 14216 – (716) 800-4282
- Hoch Insurance
2333 Elmwood Ave – Buffalo, NY 14217 – (716) 846-1715
- Hsbc Insurance Agency: Chiarenza John
95 Washington St – Buffalo, NY 14203 – (716) 447-2556
- Mesi Agency Inc
759 Dick Rd – Buffalo, NY 14225 – (716) 626-3355