Auto Insurance for Master’s Degree (Rates & Discounts)

Master’s auto insurance, or auto insurance with a master’s degree, could mean lower insurance rates because insurance companies see college degrees as a sign of responsibility, meaning you’ll probably be a responsible driver. As a result, companies consider you lower risk to insure if you have a master's. College degrees can also mean discounts, so when looking for the best car insurance for college graduates or master’s auto insurance, you should look for companies that offer further education discounts.

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Rachel Bodine graduated from college with a BA in English. She has since worked as a Feature Writer in the insurance industry and gained a deep knowledge of state and countrywide insurance laws and rates. Her research and writing focus on helping readers understand their insurance coverage and how to find savings. Her expert advice on insurance has been featured on sites like PhotoEnforced, All...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insurance...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Apr 19, 2021

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What You Should Know

  • If you’re looking for auto insurance with a master’s degree, you may qualify for lower rates
  • When you want to find the best car insurance for college graduates, look for companies that offer discounts for college degrees
  • Insurance companies consider college degrees an indicator of personal responsibility, meaning that with a college education, you may be considered a lower-risk driver

Have you recently graduated with a master’s degree? If so, you may qualify for better insurance rates. How does your education impact your auto insurance? Need help understanding auto insurance rates? Read this article to find the best car insurance for recent college graduates and information on master’s auto insurance.

When you’re looking for affordable master’s auto insurance, the best way to get good rates is to shop around. Use your ZIP code in our free tool to start comparing master’s auto insurance rates today.

Does having a master’s degree affect auto insurance rates?

Having an advanced degree may mean lower insurance rates. You may also qualify for discounts for your education level. And if you’re still in school pursuing further education, you may qualify for student discounts.

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Why does your education impact your auto insurance?

Having a college degree can mean lower insurance rates because insurance companies see advanced education as the choice of a responsible person. As a result, they expect you’ll also be a responsible driver, and therefore, lower risk to insure.

You may also qualify for lower rates or discounts due to the job you get with your college degree. One example is the auto insurance discounts for nurses offered by some companies.

You should make sure to check your coverage when you get a new job, to make sure you’re still getting the best rates.

As we noted, some companies also offer discounts to drivers with college degrees. Look at this table to see a list of some of the major companies that offer these discounts.

Auto Insurance Companies with Higher Education Discounts
Insurance CompaniesPercent Discount
AmeripriseNot Available
AmicaNot Available
Esurance15%
GEICONot Available
Liberty Mutual10%
Nationwide15%
SafecoNot Available
The GeneralNot Available
The HanoverNot Available
TravelersNot Available
USAANot Available
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While qualifying for lower rates and discounts with advanced degrees benefits you if you have a master’s degree (or another college degree), it’s a controversial practice.

States like California have changed their insurance laws to forbid the use of education to adjust rates. However, occupation is still a permitted factor (though the California Department of Insurance is in the process of changing this).

If you’ve recently obtained a master’s degree, you should consider shopping for insurance and comparing quotes from at least three companies to make sure you’re still getting the best rates.

Auto Insurance for Master’s Degree: The Bottom Line

Depending on your age and other factors, car insurance for recent college graduates may be lower than you expect. Why? Because with master’s degrees (and other college degrees), insurance companies often see you as a more responsible person, and therefore a more responsible driver.

In addition to lower insurance rates, you may also qualify for discounts based on your education, occupation, and, if you’re continuing your education, being a student.

Ready to buy master’s auto insurance? Enter your ZIP code in the free tool on this page to compare master’s auto insurance quotes right now.

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