Buy Cheap Auto Insurance for Drivers With Master’s Degrees in 2023
Drivers with their master's degree can buy auto insurance that provides great coverage and costs less than the average rate of $124 a month. While points on your license can increase your rates, your auto insurance rates with a master's degree may be lower than rates for others. Insurance companies also offer a wide range of discounts that can help you obtain full coverage insurance at an affordable rate.
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Laura D. Adams
Insurance & Finance Analyst
Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...
Insurance & Finance Analyst
UPDATED: Jun 12, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our auto insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different auto insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jun 12, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our auto insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different auto insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Your master’s degree could help you secure a lower auto insurance rate
- If you have a subpar driving record, discounts can help you keep your rates low
- Shopping for auto insurance online empowers you to compare different insurance companies with ease
If you have your master’s, affordable auto insurance is within your grasp. A driver with their master’s can buy auto insurance at a great rate that still provides excellent coverage when they shop online.
When you gather auto insurance quotes for master’s degrees, you are empowering yourself to find the best rates and discounts, like usage-based insurance programs, at your leisure.
Auto insurance for drivers with a master’s degree is easier to obtain than ever. Enter your ZIP code into our free tool above if you have a master’s degree and get free car insurance quotes.
Can having a master’s reduce auto insurance rates?
Your education level certainly can keep your auto insurance rates lower than the national monthly average of $124. If you have your master’s, an auto insurance company may see you as a reduced risk and, in turn, reduce your insurance rates.
Of course, you can also keep your rates low by limiting your time on the road, resist driving above the speed limit, maintaining a good credit score, and keeping the number of claims you file to a minimum.
What if I have a bad driving record?
Auto insurance for master’s degree program graduates can be expensive if you have a lot of speeding tickets or points on your license. If this scenario applies to you, there are options available to you that can help you reduce your rates.
After a certain amount of time, your points will come off your license, but you can always see what kind of discounts an insurance company offers; even if the percentage of each individual discount is small, they can work together to provide you with a hefty amount of savings.
If you would like to review your policy and make sure every discount you qualify for is being applied to it, take a look at this list. This is an excellent resource that you can use whenever you compare quotes from other insurance companies:
| Vehicle Discounts | Driver/Customer Discounts | Personal Discounts |
|---|---|---|
| Active Disabling Device | Claim Free | Emergency Deployment |
| Adaptive Cruise Control | Continuous Coverage | Family Legacy |
| Adaptive Headlights | Defensive Driver | Family Plan |
| Anti-lock Brakes | Driver's Education | Federal Employee |
| Audible Alarm | Driving Device/App | Further Education |
| Automatic Braking | Early Signing | Good Student |
| Blind Spot Warning | Full Payment | Homeowner |
| Daytime Running Lights | Good Credit | Life Insurance |
| Economy Vehicle | Loyalty | Married |
| Electronic Stability Control | Multiple Policies | Membership/Group |
| Farm/Ranch Vehicle | Multiple Vehicles | Military |
| Forward Collision Warning | New Customer/New Plan | New Address |
| Garaging/Storing | Occasional Operator | New Graduate |
| Green/Hyrbid Vehicle | Online Shopper | Non-smoker/Non-drinker |
| Lane Departure Warning | On-Time Payments | Occupation |
| Newer Vehicle | Paperless/Auto Billing | Recent Retirees |
| Passive Restraint | Paperless Documents | Stable Residence |
| Utility Vehicle | Roadside Assistance | Student Away |
| Vehicle Recovery | Safe Driver | Student or Alumni |
| VIN Etching | Seat Belt Use | Volunteer |
Auto insurance discounts for graduates with a master’s degree are great tools that reduce your rates even if you have a subpar driving record.
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How much is full coverage car insurance for drivers with a master’s degree?
If you would like to buy full coverage auto insurance but aren’t sure how much it may cost you, feel free to examine this breakdown of the average auto insurance rates by state:
| State | Average by State | Geico Annual Premiums by State | Higher/Lower than Average | Higher/Lower than Average % |
|---|---|---|---|---|
| Alabama | $3,567 | $2,867 | -$700 | -19.63% |
| Alaska | $3,422 | $2,880 | -$542 | -15.83% |
| Arizona | $3,771 | $2,265 | -$1,506 | -39.94% |
| Arkansas | $4,125 | $3,485 | -$640 | -15.52% |
| California | $3,689 | $2,886 | -$803 | -21.78% |
| Colorado | $3,876 | $3,092 | -$785 | -20.24% |
| Connecticut | $4,619 | $3,074 | -$1,545 | -33.45% |
| Delaware | $5,986 | $3,727 | -$2,259 | -37.74% |
| District of Columbia | $4,439 | $3,693 | -$746 | -16.81% |
| Florida | $4,680 | $3,784 | -$897 | -19.16% |
| Georgia | $4,967 | $2,977 | -$1,990 | -40.06% |
| Hawaii | $2,556 | $3,359 | $803 | 31.43% |
| Idaho | $2,979 | $2,771 | -$208 | -7.00% |
| Illinois | $3,305 | $2,779 | -$526 | -15.92% |
| Indiana | $3,415 | $2,261 | -$1,154 | -33.79% |
| Iowa | $2,981 | $2,296 | -$685 | -22.98% |
| Kansas | $3,280 | $3,221 | -$59 | -1.80% |
| Kentucky | $5,195 | $4,634 | -$562 | -10.81% |
| Louisiana | $5,711 | $6,155 | $443 | 7.76% |
| Maine | $2,953 | $2,823 | -$130 | -4.41% |
| Maryland | $4,583 | $3,833 | -$750 | -16.37% |
| Massachusetts | $2,679 | $1,510 | -$1,169 | -43.63% |
| Michigan | $10,499 | $6,430 | -$4,069 | -38.75% |
| Minnesota | $4,403 | $3,499 | -$905 | -20.55% |
| Mississippi | $3,665 | $4,087 | $423 | 11.53% |
| Missouri | $3,329 | $2,885 | -$444 | -13.33% |
| Montana | $3,221 | $3,602 | $382 | 11.84% |
| Nebraska | $3,284 | $3,837 | $554 | 16.87% |
| Nevada | $4,862 | $3,662 | -$1,200 | -24.67% |
| New Hampshire | $3,152 | $1,615 | -$1,537 | -48.76% |
| New Jersey | $5,515 | $2,755 | -$2,760 | -50.05% |
| New Mexico | $3,464 | $4,458 | $995 | 28.72% |
| New York | $4,290 | $2,428 | -$1,862 | -43.40% |
| North Carolina | $3,393 | $2,937 | -$456 | -13.45% |
| North Dakota | $4,166 | $2,668 | -$1,498 | -35.95% |
| Ohio | $2,710 | $1,867 | -$843 | -31.09% |
| Oklahoma | $4,142 | $3,437 | -$705 | -17.02% |
| Oregon | $3,468 | $3,220 | -$248 | -7.14% |
| Pennsylvania | $4,035 | $2,605 | -$1,429 | -35.43% |
| Rhode Island | $5,003 | $5,603 | $599 | 11.98% |
| South Carolina | $3,781 | $3,178 | -$603 | -15.95% |
| South Dakota | $3,982 | $2,940 | -$1,042 | -26.17% |
| Tennessee | $3,661 | $3,283 | -$377 | -10.31% |
| Texas | $4,043 | $3,263 | -$780 | -19.29% |
| Utah | $3,612 | $2,966 | -$646 | -17.89% |
| Vermont | $3,234 | $2,196 | -$1,038 | -32.11% |
| Virginia | $2,358 | $2,062 | -$296 | -12.57% |
| Washington | $3,059 | $2,569 | -$491 | -16.04% |
| West Virginia | $2,595 | $2,121 | -$475 | -18.29% |
| Wisconsin | $3,606 | $3,926 | $320 | 8.88% |
| Wyoming | $3,200 | $3,497 | $296 | 9.26% |
| Median | $3,661 | $3,074 | -$587 | -16.04% |
Bear in mind, that many personal attributes like your age and gender will feed into your rate calculations whenever you fill out the form for an online quote. This means that every rate for any driver with a master’s degree will be unique.
How can drivers with a master’s degree find the best auto insurance company?
Shopping for auto insurance online empowers you to compare different insurance companies with ease. By reviewing quotes in the comfort of your home, you can take time to analyze the benefits that each one offers without being hampered by the pressure of a salesperson.
Auto Insurance for Driver’s with Master’s Degrees: The Bottom Line
Your master’s degree, even if you have points on your license, can help you obtain cheap auto insurance. Some insurance companies offer discounts for those with degrees, but you can also make use of other discounts to reduce your rates.
You should always review your policy to check that all discounts which apply to you are active on your insurance policy. If you are in the position to do so, work to maintain a good credit score and avoid filing claims. All these strategies can greatly increase your savings.
Shopping online for auto insurance is also an easy, yet effective, way to compare insurance quotes and find the company that is the best fit for you.
If you’re eager to save money on your auto insurance, you don’t have to wait. Enter your ZIP code into our free tool to receive free auto insurance quotes for drivers with their master’s today.
Frequently Asked Questions
Why is it relevant to mention having a Master’s degree when looking for cheap auto insurance?
Mentioning a Master’s degree can be relevant when seeking cheap auto insurance because some insurance providers offer discounts or lower rates to individuals with higher education levels. It demonstrates that you have achieved a certain level of education, which insurers may consider as an indicator of responsibility and lower risk.
Which insurance companies provide discounts for drivers with Master’s degrees?
Several insurance companies offer discounts for drivers with higher education levels, including Master’s degrees. However, the availability of such discounts may vary depending on your location and the specific insurance provider. It’s best to check with multiple insurance companies or consult with an insurance agent to find out which ones offer discounts for drivers with advanced degrees.
How much discount can I expect for having a Master’s degree?
The discount amount for having a Master’s degree can vary depending on the insurance provider and the specific policy. Discounts typically range from 5% to 15%, but it’s important to note that discounts for education level are just one factor among many that insurers consider when determining your premium. Other factors such as driving history, location, and vehicle type will also influence the overall cost.
Do I need to provide proof of my Master’s degree to avail the discount?
Insurance companies may require proof of your Master’s degree to avail the discount. The specific documentation needed can vary between insurers. Typically, you may be asked to provide a copy of your degree certificate or other official documentation that verifies your educational attainment. It’s advisable to check with your insurance provider to understand their specific requirements for verifying education level discounts.
Can I still get cheap auto insurance if I don’t have a Master’s degree?
Yes, it’s possible to find cheap auto insurance even if you don’t have a Master’s degree. Insurance companies consider multiple factors when determining premiums, including driving history, age, location, and the type of vehicle you drive. While having a higher education level may make you eligible for certain discounts, there are various other discounts and factors that can contribute to obtaining affordable auto insurance. It’s recommended to compare quotes from different insurance companies to find the best rates available for your circumstances.
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Laura D. Adams
Insurance & Finance Analyst
Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...
Insurance & Finance Analyst
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.