Cheap Car Insurance if You Don’t Have a College Degree

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If you don't have a college degree, you can still get cheap car insurance. (Photo: @rusty via Twenty20)
Car insurance providers take many factors into consideration when determining your premiums, including whether or not you have a college degree. It seems unfair, but this is because people who have a college degree are statistically less likely to be involved in a serious collision. If you don’t have a post-secondary degree, here are four other factors that could work in your favor to lower your premiums.

Having a Clean Driving Record

When determining your insurance premiums, companies will investigate whether or not you have been ticketed for traffic violations or been involved in a collision recently. If you have not had an accident or been cited for a violation for three years, you will pay lower premiums.

Having a Good Credit Score

Drivers with a credit score of 580 or higher pay lower car insurance premiums. This is because statistically, people with a higher credit score are more cautious and less likely to be involved in a serious collision.
You can get a free credit score through online sites like Credit Sesame and Free Credit Report to find out if you have this factor working in your favor.
Some online credit report sites will give you a basic credit report for free, but charge a small fee to give you your credit score. If you do have a low credit score, you can bring it up by doing the following:
  • Pay your bills on time every month and pay more than the minimum amount due on credit cards and loans, when you can.
  • If you don’t have a credit card, get one. Make at least one small purchase with the card each month and pay off the balance each month.

Having a Safe Car

Buy a car that is considered very safe and has extra safety features. This will be a big factor in getting cheaper insurance. The Insurance Institute for Highway Safety (IIHS) is an excellent resource for finding out which cars are considered the safest by car insurance providers.

Having a Short Commute

It’s no surprise that many car insurance providers will give you a cheaper rate if you work close to home. The fewer miles you have to travel each day, the less likely it is that you will be involved in a collision.
Even with all of these factors working in your favor, you will still have to shop around to get the best deal on car insurance. Determine your car’s make, model, and year and give local car insurance providers a call. One of them may be able to give you the best rates. You can also contact your homeowners or renters insurance provider. They may be able to give you a good deal if you bundle your home and car insurance.