Depending on the state you live in and the car insurance company, you can get car insurance for less if you have a college degree. Some of them give an even higher discount to people with a Master’s Degree or PhD. However, there are car insurance providers that do not take college degrees into consideration, like Allstate and Nationwide. Fortunately, there are additional factors that can qualify you for even cheaper car insurance rates. In this article, Factor 1 is credit score, Factor 2 is driving record, Factor 3 is car safety rating, and Factor 4 is length of drive to work.
Factor 1 of 4: Credit score
Your credit score is one of the biggest factors taken into consideration by insurance providers when they determine your car insurance premiums. The only states where your credit score cannot be used to determine your premiums are California, Hawaii, and Massachusetts.
In all other states, if you have a credit score over 580, you pay less for insurance. The rates drop again if your score is over 620, again if it’s over 680, and again when it is over 720. They do this because statistics prove that drivers with a higher credit score are less likely to be involved in a collision.
If you don’t know your credit score, go online to a site like Credit Sesame or Free Credit Report to get your score and a free credit report. If your credit score is low, do the following to bring it up:
Pay your bills on time every month and when you can, pay more than the minimum amount due on credit cards and loans.
If you don’t have a credit card, get one. Make one small purchase with the card each month and pay off the balance by the due date.
Factor 2 of 4: Driving record
Drivers who have not gotten a ticket for a moving violation or been involved in an accident that was their fault for three years get lower rates. This discount is commonly called the safe driver discount.
Factor 3 of 4: Car safety rating
Some cars are considered safer than others. If you look up information on a vehicle review site like [MotorTrend])(http://www.motortrend.com/news/affordable-and-safe-11-vehicles-that-earned-the-iihs-top-safety-pick-rating/) or KBB (Kelley Blue Book)](https://www.kbb.com/best-safety-rated-cars/suv/2017/), you will often find an “IIHS Top Picks” emblem or a National Highway Traffic Safety Administration (NHTSA) rating included on the page. This means the car has been tested by the Insurance Institute for Highway Safety (IIHS) and/or NHTSA and given a safety rating. If the car has a high safety rating, insurance on that car will be cheaper.
Factor 4 of 4: Length of drive to work
Many car insurance providers give drivers a discount if they don’t have a long commute to and from work every day.
Shop around to find a car insurance provider who will give you a better rate for having a college degree. It will take a little time but the effort will be worth it. Ask if you can get a discount for having a college degree and also for any of the other four factors, if you qualify.