Auto Insurance for Medical Students

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.

UPDATED: Jul 11, 2022Fact Checked

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Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Written by Sara Routhier
Director of Outreach Sara Routhier

Cynthia Lanctot is an insurance professional with ten years of industry experience. Cynthia is licensed in several states, and holds an associate in claims law, as well as a bachelor’s degree in English. Cynthia’s experience includes the New England and Northeast states. She currently works as a liability claims professional and an occasional online contributor.

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Reviewed by Cynthia Lanctot
Licensed Agent Cynthia Lanctot

UPDATED: Jul 11, 2022

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A Concise Overview

  • 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.

Average Annual Auto Insurance Rates by State and Coverage Type
StatesAverage Annual Liability Coverage RatesAverage Annual Collision Coverage RatesAverage Annual Comprehensive Coverage RatesAverage 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
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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.

Average Monthly Auto Insurance Rates for Medical Students
CompanyAverage Monthly Rates for Medical StudentsNumber of Available Discounts with Company
Liberty Mutual$58917
Travelers$49415
Progressive$37013
USAA$20914
AAA$43618
State Farm$27513
Allstate$41212
GEICO$31630
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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.

Common Auto Insurance Discounts
Discount NameDiscounted Percentage
Affiliation or "affinity"25%
Good or safe driver20%
Multi-car10 – 25%
Good student10 – 20%
Green/hybrid car10%
New car10%
Homeowner5 – 15%
Bundled (multi-policy)5 – 10%
Paid-in-full5 – 10%
Accident-free5%
Paperless3%
Usage or low-mileage2%
OccupationVaries
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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. 

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