Buy Cheap Auto Insurance for Medical Students in 2023
Medical students have a few ways they can save money on their car insurance, including good student discounts. We'll cover what discounts to look for and what requirements are necessary.
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Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
Licensed Insurance Agent
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
- Medical students typically pay around $388 per month for auto insurance
- Many insurance companies offer discounts to students
- The best way to find cheap auto insurance for medical students is to compare quotes from multiple companies
Car insurance can be expensive, and if you’re in medical school, you’re probably already paying a lot in tuition. But is there a way to find cheap car insurance for students in medical school? The short answer is yes.
Many companies offer one or more student discounts, which gives students plenty of ways to save money on auto insurance. So if you’re currently in medical school, and especially if you’re doing well and making good grades, you may be eligible for student car insurance discounts that could help you save a lot of money on your auto insurance coverage.
What kind of auto insurance do medical students need?
If you’re in med school, you may want to find the cheapest policy to save money. But you should consider the type of coverage you need on your insurance.
The cheapest auto insurance policy will be a liability car insurance policy, which will help you meet your state’s minimum requirements for coverage. However, while this helps ensure you won’t have to pay out of pocket if you damage someone else’s car, it certainly will not help if your vehicle is damaged.
To ensure you and your vehicle are covered, you may need a full-coverage policy that includes comprehensive and collision coverage. Comprehensive auto insurance covers events that are not accident related, such as damage due to inclement weather or vandalism.
Collision coverage helps cover damages resulting from an accident, even if you are at fault. A full coverage auto insurance policy offers medical students a great deal of protection, but rates for this coverage are more expensive.
Look at the table below, which compares average rates for car insurance based on different coverage types.
States Average Annual Liability Coverage Rates Average Annual Collision Coverage Rates Average Annual Comprehensive Coverage Rates Average Annual Full Coverage Coverage Rates
North Dakota $282.55 $252.21 $112.74 $741.11
South Dakota $289.04 $251.30 $110.12 $1,206.46
Iowa $293.34 $251.46 $230.65 $819.14
Wyoming $323.38 $270.48 $222.86 $816.71
Maine $333.92 $331.72 $146.77 $1,077.97
Idaho $337.17 $284.92 $117.98 $833.44
Vermont $340.98 $278.38 $118.31 $737.67
Kansas $342.33 $255.33 $130.15 $904.39
Nebraska $349.07 $293.78 $116.79 $1,057.63
North Carolina $357.59 $227.44 $227.64 $737.63
Wisconsin $359.84 $209.93 $126.34 $696.11
Indiana $372.44 $207.10 $171.58 $672.01
Alabama $372.57 $299.10 $146.28 $817.95
Ohio $376.16 $298.21 $201.56 $941.34
Arkansas $381.14 $304.87 $183.36 $869.37
Montana $387.77 $223.50 $206.24 $778.81
New Hampshire $393.24 $365.23 $123.18 $1,353.96
Tennessee $397.73 $290.39 $135.62 $823.74
Missouri $399.41 $254.90 $199.87 $842.54
Virginia $413.12 $264.70 $129.89 $807.71
Illinois $430.54 $237.19 $115.02 $724.65
Mississippi $437.38 $259.65 $166.34 $825.40
Minnesota $439.58 $302.96 $194.74 $935.08
Oklahoma $441.57 $212.47 $89.66 $855.57
Hawaii $458.49 $209 $110.78 $656.95
New Mexico $462.21 $358.45 $156.66 $1,300.09
California $462.95 $364.56 $99.29 $926.79
Utah $471.26 $254.41 $106.57 $832.24
Colorado $477.10 $263.36 $158.34 $898.79
Arizona $488.59 $259.31 $184.20 $932.10
Georgia $490.64 $297.75 $100.09 $856.33
Pennsylvania $495.02 $377.06 $122.17 $1,219.29
South Carolina $497.50 $200.10 $228.59 $717.73
Texas $498.44 $340.51 $186.70 $1,025.64
West Virginia $501.44 $319.10 $195.04 $1,015.57
Kentucky $518.91 $391.03 $208.59 $1,326.78
Alaska $547.34 $360.18 $141.08 $1,048.60
Oregon $553.43 $307.31 $132.01 $934.34
Washington $568.92 $250.13 $104.11 $923.16
Massachusetts $587.75 $383.21 $147.02 $1,252.27
Maryland $599.48 $358.68 $128.92 $1,075.35
District of Columbia $628.09 $449.27 $230.25 $1,307.62
Connecticut $633.95 $348.70 $126.02 $1,108.67
Nevada $647.07 $281.70 $103.03 $777.98
Rhode Island $720.06 $247.62 $165.38 $910.51
Michigan $722.04 $214.02 $173.04 $826.64
Louisiana $727.15 $249 $96.66 $679.56
Delaware $776.50 $296.60 $113.23 $1,186.33
New York $784.98 $264.58 $123 $745.17
Florida $845.05 $320.45 $153.61 $964.70
New Jersey $865.55 $267.48 $166.89 $896.58
Depending on where you live, rates for a full coverage policy could cost more than twice a liability-only policy. Student discounts could help you save a bit each month, but you’ll still pay more.
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Can I find cheap car insurance for medical students?
While there is not a company that offers cheap car insurance to people in med school, there are plenty of car insurance discounts for students. And what’s even better, student discounts on car insurance can help you save as much as 25% on your monthly or annual car insurance rates.
To find the cheapest rates on car insurance for medical students, you’ll need to know exactly how much auto insurance is when you’re in med school.
The table below shows the average monthly auto insurance rates for medical students.
Company Average Monthly Rates for Medical Students Number of Available Discounts with Company
Liberty Mutual $589 17
Travelers $494 15
Progressive $370 13
USAA $209 14
AAA $436 18
State Farm $275 13
Allstate $412 12
Geico $316 30
As you can see, some companies, like Liberty Mutual, charge med students a lot more for car insurance than others. However, State Farm offers much more affordable rates than most other auto insurance providers.
The rate difference is likely due to how each company assesses various factors when determining a person’s auto insurance rates. But just because you find a company that initially offers high rates doesn’t necessarily mean your rates will stay that way. As already mentioned, you may be able to lower your monthly or annual rates with a student discount for car insurance.
Can I get a discount on car insurance as a med student?
Most car insurance companies offer discounts on coverage, and these discounts are available for a variety of reasons.
The table below shows the most common discounts on car insurance and how much policyholders can typically save.
Discount Name Discounted Percentage
Affiliation or "affinity" 25%
Good or safe driver 20%
Multi-car 10 – 25%
Good student 10 – 20%
Green/hybrid car 10%
New car 10%
Homeowner 5 – 15%
Bundled (multi-policy) 5 – 10%
Paid-in-full 5 – 10%
Accident-free 5%
Paperless 3%
Usage or low-mileage 2%
Occupation Varies
As you can see, most providers that offer discounts to students allow savings of anywhere from 10 to 20% on the overall insurance premium. But it depends on the company regarding how much you can save with a student discount on car insurance.
For example, Geico discounts for students often help medical students save 10 to 15% on insurance, while USAA discounts are usually higher.
Who qualifies for a student discount?
While students save an average of 15% with discounts, you may be able to combine discounts to save even more. For example, while medical students may be able to get a good student discount on auto insurance, they may also be eligible for additional savings in the following scenarios:
- They go to college away from home.
- They have taken a defensive driving course.
- They own a vehicle that has advanced safety features.
- They live on campus and can earn a low-mileage discount.
- They live at home and can be part of a parent’s insurance policy.
Some student discounts for car insurance only apply to individuals 25 or younger, so if you’re in medical school and you’re 30 or older, you may not be eligible for a student discount with most companies. Still, there are plenty of ways for you to save money on auto insurance coverage.
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Car Insurance for Medical Students: The Bottom Line
You need proper insurance if you own a car while in med school. You may be able to find student discounts on car insurance that help you save as much as 25% off your policy, but this will vary from one company to the next.
While saving money is always nice, you must consider whether you should purchase additional car insurance coverage while in school. You may want full coverage to have the best protection on the road.
Frequently Asked Questions
Are there any special auto insurance discounts available for medical students?
Yes, some insurance companies offer special discounts for medical students. These discounts may include a good student discount, which rewards students with high academic performance, or a professional association discount if you are a member of a medical student organization. It’s important to inquire with insurance providers to determine if they offer any specific discounts for medical students.
Can being a medical student affect my auto insurance premium?
Being a medical student itself may not directly impact your auto insurance premium. However, several factors typically considered when calculating premiums, such as age, driving history, and the type of vehicle you drive, may be relevant for medical students as well. It’s recommended to compare quotes from different insurance providers to find the most affordable option tailored to your specific circumstances.
What coverage options should medical students consider for auto insurance?
Medical students should consider the standard coverage options that all drivers typically need, including liability coverage, which helps cover damages you may cause to others, and uninsured/underinsured motorist coverage, which protects you if you’re involved in an accident with an uninsured or underinsured driver. Additionally, comprehensive and collision coverage may be worth considering to protect your own vehicle against damage or theft. Consult with an insurance agent to determine the coverage options that best suit your needs.
Is it possible to suspend or reduce coverage during medical school to save money on auto insurance?
It’s generally not recommended to suspend or reduce coverage during medical school unless you won’t be driving at all and your vehicle will be stored securely. Maintaining continuous auto insurance coverage is important for various reasons, such as avoiding coverage gaps and potential legal consequences. However, you can discuss your situation with your insurance provider to explore any potential cost-saving options while maintaining adequate coverage.
Are there any additional discounts or programs for medical students to save on auto insurance?
In addition to the discounts mentioned earlier, some insurance companies may offer specific programs or benefits for medical students. These could include flexible payment options, temporary coverage options for short-term breaks, or favorable rates for individuals in professional programs. Contact insurance providers directly to inquire about any specialized programs or discounts for medical students.
How can I find cheap auto insurance as a medical student?
To find cheap auto insurance as a medical student, consider the following steps:
- Shop around and obtain quotes from multiple insurance providers.
- Maintain a good driving record and consider defensive driving courses to potentially lower your premium.
- Inquire about student discounts and other available discounts for which you may be eligible.
- Opt for a vehicle with good safety features and a lower cost of repair and replacement.
- Bundle your auto insurance with other policies, such as renters or homeowners insurance, for potential multi-policy discounts.
- Consider raising your deductibles if you can afford higher out-of-pocket costs in the event of a claim.
- Consult with an independent insurance agent who can help you navigate the options and find the best coverage at an affordable price.
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Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
Licensed Insurance Agent
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.