As many college students know, papers and studying takes up a lot of time. And let’s face it, auto insurance isn’t at the forefront of your mind. But it is an important consideration, especially during this time of your life. Getting the right policy is just as important as getting a good price. Let’s take a look at how going to college can affect your auto insurance policy.
Leaving Your Car at Home
If you go a college campus at least 100 miles away from your permanent residence, live on campus and leave your car back at home, there’s a good chance you can cut back on the amount of coverage you need. Discuss the change with your independent insurance agent, including if the vehicle will be driven by anyone while you’re away. Under the right circumstances, you may qualify for a resident student discount.
If you commute to classes, you may spend more time on the road. This is also an occasion for reevaluating your auto insurance policy. Though the thought of paying for more coverage may sound unattractive, it’ll be well worth it if you find yourself in a situation that results in a claim.
The safety of the areas in which you drive is taken into consideration when calculating your auto insurance rates. So, if your college apartment is in a neighborhood with a higher crime rate than your parents’ neighborhood, you may see a bit of a premium increase. Luckily, arming your car with anti-theft devices can earn you a safety discount.
Anyone who avoids accidents and tickets is likely to pay less for auto insurance. But on top of that, young adults up to age 25 who remain on their parents’ policy can earn a good student discount for maintaining high grades. Additionally, it’s worthwhile to compare the price difference between staying on your parents’ policy and purchasing your own; it’s often less expensive to stay on your parents’ policy until you permanently move out.
Since your living situation may vary differently from that of your buddies, it’s easy to see why there’s no one-size-fits-all auto insurance policy that works for every college student. Instead, discuss your options with your independent insurance agent to find a policy that’s ideal for you.