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Affordable Car Insurance For College Students

Monday, September 23, 2019

How college students can still have affordable insurance rates even though they’re young drivers.

The costs of going to college are high, and the last thing you want to deal with is a lack of adequate insurance coverage on your car. With a bit of research and asking the right questions, you may be able to save money on your policy. Statistically, young drivers have more accidents, so the premium costs are higher to help defray those averages. We offer a few strategies for finding the best deal on car insurance for college students.

Stay on your Family Policy

Who legally owns your car? If your car title is in your parent’s name, you may want to keep the status quo and remain on their insurance as long as possible. Combining home and car insurance does lower overall costs. If the car title is in your name and you pay for your insurance separately, there are still a few ideas to research. If you plan to maintain your home address as your permanent address, you may not need to make any changes to your current policy.


Leave Your Car at Home

If you attend college out of town or out of state, it may save you money to leave your car parked at your home address. There is an option for “Resident Student” savings if you attend school more than 100 miles from home. Speak with your insurance agent to find out if you qualify for this status. If you are going out of state for school, be sure to check on the rules and regulations for car insurance in that state. You may find that leaving your car in your home state is the more affordable decision.

Maintain a Good Grade Point Average

Some insurance companies offer incentives for good grades. It may be worth taking the time to call your agent to see if this option is available. Maintaining a high GPA has perks beyond the Dean’s List, and you may qualify for this discount. There will be some paperwork to prove your academic standing each semester, but it beats overpaying for car insurance.

Research Pay-Per-Mile Coverage

A few insurance providers offer an option to pay a monthly flat rate plus a per-mile charge. If you live on campus and use your car infrequently, this may be a good option for saving money. The provided App or diagnostic plug-in tracks your mileage around town, and your bill will reflect real-time usage of your vehicle. Not every insurance company offers this tool, but it is worth checking out.

Maintain Safe Driving Habits

Maintain Safe Driving Habits

Of course, the number one way to keep insurance rates low is to be a good driver. Avoid speeding, parking tickets, and accidents. Choosing to walk or take public transportation if parking is challenging or traffic gets crazy at certain times of the day makes sense. Being proactive about your safety is a great way to protect your money and keep your car insurance rates more affordable.

Options are out there if you are willing to do your homework. Your Independent Insurance Associate is happy to help you find the best coverage at the best price for young drivers. The easiest way to find cheap car insurance for college students is to make an appointment to review and discuss all of your unique needs. Feel free to contact us to explore all of your options; going away to college is expensive enough without the burden of higher vehicle costs!