Auto Insurance for Drivers with PhD Degrees

On average, auto insurance quotes for PhDs are $128 a month. However, car insurance rates for PhDs vary for each person. But you can secure cheap PhD auto insurance with the right discounts. You'll find affordable PhD car insurance rates if you have a clean driving record and good credit. Shop around and compare multiple companies to get the best insurance for PhDs.

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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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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

UPDATED: Aug 24, 2021

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A Concise Overview

  • PhDs have fewer accidents than people with high-school diplomas
  • Four states don’t allow auto insurance companies to use education level as a determining factor
  • Younger drivers tend to take more risks than older drivers

Did you know auto insurance for PhDs is cheaper than it is for most drivers?

Car insurance for PhD graduates varies for each company, but you can secure affordable auto insurance coverage through specific circumstances.

So how can you get cheap auto insurance for drivers who hold a PhD? Don’t worry – we’re here to help.

Read through this guide to learn how to get affordable auto insurance for drivers with a PhD degree.

After you learn more about auto insurance for PhDs, enter your ZIP code in the free online quote tool above to compare multiple companies in your area.

How much are auto insurance rates for PhDs?

Car insurance rates vary for each person. But we found the average monthly rate for most drivers by education level.

Check out the results below.

  • No Degree – $133/month
  • High-School Diploma – $131/month
  • Bachelor’s Degree – $129/month
  • Master’s Degree – $128/month
  • PhD (Doctorate Degree) – $128/month

There’s not a significant difference between education levels. However, your rates are determined by personal factors.

Continue reading to learn what factors affect car insurance quotes for PhDs.

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How do I get cheap auto insurance quotes for PhDs?

When you shop for car insurance, you’ll be asked a series of questions. Each answer impacts your overall auto insurance policy.

Here’s a list of factors that affect car insurance rates for PhDs.

  • Age
  • Gender
  • Coverage Level
  • Location
  • Vehicle Make and Model Year
  • Driving Record
  • Credit History
  • Marital Status
  • Commute Mileage

Education level and auto insurance deductibles have a small effect on insurance rates.

For example, a PhD’s age, driving record, and credit history significantly impact your car insurance rates more than your education level.

California, Georgia, Hawaii, and Massachusetts have outlawed insurance companies from determining auto insurance rates by education level.

If you maintain a clean driving record and good credit, you can secure affordable auto insurance for PhDs.

Good driving records and exceptional credit open the roads to some of the best car insurance discounts.

Read on to learn more.

What are the best auto insurance discounts for PhDs?

Favorable factors qualify you for car insurance deals. If you already have an auto insurance policy, you probably noticed the discounts during the quote process.

If you haven’t shopped for car insurance for PhDs yet, here’s a list of the most effective discounts.

  • Anti-Theft Discount – Up to 25%
  • Distant Student Discount – Up to 35%
  • Driving Device/App Discount – Up to 50%
  • Good Student Discount – Up to 25%
  • Safe Driver Discount – Up to 40%
  • Multiple Policies Discount – Up to 25%
  • Multiple Vehicles Discount – Up to 25%
  • Newer Vehicle Discount – Up to 40%

Graduate students under 25 can still use student discounts from auto insurance companies. The best discount is the safe driver discount. But you should still stack deals.

For instance, you can bundle a condo or renters insurance with your car insurance policy to save up to 25%.

Get everything you can to lower the cost of auto insurance. Continue reading to learn why discounts are helpful.

Which companies have the best auto insurance for PhDs?

If you’re not sure where to shop for car insurance, start with the best insurance companies.

Let’s look at the average monthly rates of the top auto insurance companies in the United States.

Average Monthly Auto Insurance Rates by Company
CompaniesAverage Monthly Auto Insurance Rates
Allstate$318
American Family$224
Farmers$288
GEICO$179
Liberty Mutual$398
Nationwide$229
Progressive$283
State Farm$235
Travelers$287
USAA$161
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Each company has a monthly car insurance rate that is more expensive than average.

When you factor in discounts, you can pump the brakes on expensive insurance costs.

Why does my education level impact auto insurance?

Education level is an indicator that reveals the risk of the driver. Most PhDs are older than 24 years old and have more driving experience.

According to the Centers for Disease Control (CDC), fatal car accidents are the second-leading cause of death for teen and young adult drivers.

Also, car insurance companies use statistics to determine risk. And people with a Master’s Degree or a PhD file fewer claims.

Therefore, PhDs pay much less than someone with a Bachelor’s degree or a high-school diploma. If you’re a woman, you’ll pay less than men.

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Auto Insurance for PhDs: The Bottom Line

PhDs pay less than lower education levels because they’re less likely to file a claim. Most PhDs are experienced drivers with fair to good credit. But car insurance is different for everyone.

Before you buy auto insurance for PhDs, use our free online quote tool to compare multiple companies near you.

Frequently Asked Questions: Auto Insurance for PhDs

Want to know more about car insurance for PhDs? Check out some answers to frequently asked questions before you go.

#1 – Can I stay on my parents’ auto insurance policy with a PhD?

The answer is yes. Multi-driver discounts can save up to 20% on car insurance.

#2 – When should I get an auto insurance policy?

If you want to buy a vehicle, you should start looking at car insurance companies now. Enter your ZIP code in our free online quote tool and see what’s out there.

#3 – Does the good student auto insurance discount have an age limit?

Each car insurance company is different, but the age limit to some good student discounts is 24 years old.

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