How Can I Find the Best Rates on Auto Insurance for College Students

Finding the best rates on auto insurance for college students is something which young people and their parents are wondering about. The cost of obtaining a post-secondary education can be considerable, and adding auto insurance coverage into the mix can strain the family budget.

There are some strategies which parents and students can use to help keep auto insurance costs down. It is less expensive for a parent or other adult member of the household to add the college student to an existing policy than to buy a new policy for the student as the primary driver. This arrangement can continue after a young driver has gone away to college, as long as his or her permanent address stays the same.

Auto Insurance for College Students Going Away to School

Parents who have added a college student to an existing policy should let the insurance company know if the young person is going away to school. In this situation, the auto insurance company may adjust the premium costs to reflect the fact that the student will not have access to a vehicle for a good portion of the year.

Get Best Rates for Auto Insurance Coverage

Even if a parent or other adult member of the household has been with the same auto insurance provider for years, it doesn’t mean they shouldn’t get quotes from other providers to find out whether they are getting the best pricing for the coverage they need.

One effective way to shop for auto insurance coverage is to go online. Most companies have websites which provide information about the company, its history and the number of policies it has in force. Shoppers can make sure that the company has the financial means to pay for its policyholders’ claims.

Auto Insurance Discounts

A number of auto insurance providers offer discounts to their policyholders. Good students, who maintain a “B” average or better, can qualify for preferred rates on their coverage. Other possible price breaks a college student and his or her parents can qualify for include the following:

  • Multiple vehicle discount
  • Multiple policy discount (home and auto coverage from the same company)
  • Good driver discount
  • Anti-theft device discount
  • Accident-free discount
  • New vehicle discount

Young drivers who have completed an approved driver’s education or defensive driving course can also qualify for preferred pricing on their auto insurance coverage. The insurance company can provide a list of approved courses and the amount of the discount which it offers.

Finding the best rates on auto insurance for college students may involve a bit of time and effort, but shopping around and asking about available discounts can help policyholders make sure that they are getting the best price for the protection they need. A college student who will not be at home (and driving) for part of the year should be able to get a policy which reflects this situation and qualify for lower rates on his or her coverage.