ALL YOU NEED TO KNOW ABOUT AUTO INSURANCE AND COLLEGE STUDENTS.
Parents sending their kids off to college have a huge to-do list. Some of the things on this list include;
figuring out boarding and room arrangements, textbook purchases, and more. Auto insurance policies should not be overlooked,
and making changes to them in relation to students moving to college, will be very beneficial to the parents in the long run.
Thus, in this article, we will discuss what parents need to know about auto insurance when their kids go to college, why they should be covered,
the best way to cover them and the available discounts.
It is advised that when a college student takes his
or her car with them to school, they should remain under the auto insurance policy of their parents. A lot of money will be saved
because of this, rather than when the student gets a new policy. It is, however, important to notify the insurance company of the new
garaging address. Full-time students, who are studying in another state, can also be covered by their parents' policy. This is as long
as they state their primary address, is their parents home. Also, they should make sure that the policy they have, meets the minimum
requirements of the state they are in. Students who do not take their cars with them should also remain under their parents' policy.
This is because when they are home for the weekend or during breaks, they might want to drive around. It is important to note that,
drivers in urban areas pay a higher amount in premiums than those in rural locations, and thus rates may go up.
College students should be covered for a number of reasons.
One is that they will be fully protected whether they are driving at school, or when they return home for breaks.
They are also protected when driving a friend's car, and as passengers in someone else's car. There are also
benefits of keeping a college student under auto insurance coverage. One of them is that they will get cheaper
insurance when they move out to live on their own.
Good insurance is
expensive but it is worth it. Considering the 13% of drivers who are uninsured, according to the Insurance
Research Council, it is better to be safe than sorry. Also, college students are usually associated with
driving under the influence, with 18% having admitted to driving while intoxicated at some point, and
another 37% are reported to be binge drinkers. It is, therefore, paramount that parents make sure their kids are well covered.
The best way to cover them is through the comprehensive coverage, which protects students from almost all losses ranging from
collisions, theft, vandalism, fire, animals and more.
There are a number of insurance
discounts available for college students. Some of them are:
Good Student discount
This is offered to students who maintain average grades of 3.0 or higher. To receive this
discount a copy of the transcript or a letter from a college advisor will be needed by the insurance company.
Distant Student discount
It is available for
students who attend college 75 miles or more away from home.
Occasional Driver
For students who leave their cars behind, their parents
can move them down to occasional driver status which will save them money on premiums.
