New Graduate Auto Insurance Discount
If you’re a recent college graduate, one national provider offers an affordable new graduate auto insurance discount. Currently, you can only buy new graduate discount auto insurance from Liberty Mutual. However, local companies in your region might also advertise this savings opportunity. With Liberty Mutual, your new graduate auto insurance discount rates will be 5% cheaper for one year; then the discount diminishes by 1% each year following until it’s gone.
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UPDATED: Jul 15, 2021
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- Currently, only Liberty Mutual offers a new graduate auto insurance discount
- On average, Liberty Mutual customers save 5% on their premiums with this discount
- This discount diminishes by 1% each year following until it’s gone
Did you recently graduate from a college or university and are shopping for third-party auto insurance? Then you might qualify for a new graduate auto insurance discount.
Keep reading to discover how to buy new graduate discount auto insurance and determine what auto insurance has student discounts.
After learning about affordable new graduate auto insurance discount rates, compare actual quotes from the best insurance companies near you by entering your ZIP code into our free tool above.
What companies offer a new graduate auto insurance discount?
Are you looking for the best auto insurance for recent college graduates?
Currently, among the national providers, there’s only one new graduate auto insurance discount company:
- Liberty Mutual – 5%
However, local companies near you might also offer this savings opportunity to drivers.
Remember, your age, driving record, and coverage needs also heavily impact your annual auto insurance rates.
Therefore, you might receive cheaper quotes from a different company that doesn’t even offer a new graduate discount.
To secure the best auto insurance for college students, compare quotes online from different providers before choosing a policy.
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What is a new graduate auto insurance discount?
Some insurance companies believe people with higher levels of education are more responsible drivers.
Therefore, this discount rewards drivers with a minor rate reduction for proving their dependability.
Liberty Mutual discounts your annual rates by 5% after graduating from a college or university, but not high school.
According to EducationData.org, the average age of full-time college students in America is 21, whereas part-time college students average 27 years old.
Therefore, while this discount can help reduce rates for young people under 25, it technically does not apply to auto insurance for teens.
Instead, current high school and college students should look into good student discounts. Fortunately, the new graduate markdown does stack with other deals, like safe driver insurance discounts.
However, the rate reduction doesn’t last forever. Instead, it diminishes by 1% each following year until it’s gone.
New Graduate Auto Insurance Discount: The Bottom Line
If you’re a recent college graduate and already use Liberty Mutual, make sure you ask about the new graduate insurance discount.
However, it’s still worth comparing auto insurance for students online from other companies to see exactly how much you might be able to save on your auto insurance costs.
Now that you’ve learned about the new graduate auto insurance discount rates, discover the best provider for you by entering your ZIP code into our free rate tool below.