Auto Insurance and College Aged Students

 

With the time of year being that many students are going off to college for the first time, there are many things to worry about. You have to make sure that they have everything they need for their dorm room, that they have registered for their classes, that they are prepared for the meals, classes, bookstore, etc. – the list goes on and on. However, the one thing you should not have to worry about is your auto insurance and where you stand with your college aged child being on your policy.
 
Assuredly, your high school student was on your auto insurance policy that you have for your family, but does this cover them while they are away in another state? The answer depends on how your child is going to be driving. Let’s say that they will go away but leave their car at home. They can now be listed as a restricted driver which means that you will pay substantially less for their auto insurance, as they will only be driving short distances and for a limited period of time. This could save you a lot of money on your policy, and still cover them when they come home for breaks and are using your car.
 
If they take the car with them to college then it depends on where they go to college as to how it will affect your premiums. If they go to school in a high risk area they would be looking at higher premiums then if they go to a safer location – just as it would affect your auto insurance rates based on where you live. Some auto insurance companies like Allstate will give you a discount for your college student keeping at least a B average, and you might benefit from getting them their own auto insurance policy so that you all get a discount for multiple cars.




 

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