It’s common for college students to take their cars to school with them, even if the campus is incredibly walkable. Vehicles provide a way to get to and from parties, shopping malls, and even back home for a visit, without having to ask a fellow student for a ride. However, this freedom on campus comes with a few added responsibilities as far as car insurance is concerned.
Is it cheaper to leave the car at home with the parents or store it somewhere while the student is busy studying? What about location changes and driving amounts? All of these aspects need to be considered before making that final “on-campus car decision,” as your car insurance depends on them.
Policy Options and Decisions to Make
The first insurance-related matter to consider when your student heads off to campus is: whose name is their car in? If it’s in your name (as in you, the parent), then you might want to have them on a family plan. This provides you with a multi-car discount, and even with your child at school, you can leave them on the policy in most cases.
However, if the car is in their name alone, then they might have to have their own insurance policy. Since traditional college students are under the age of twenty-five, their personal vehicle insurance might be a bit higher than normal, but there are other factors that can make it more affordable, like discounts and location and use-based options. It’s crucial to discuss these things with your insurance company.
Location Matters and Other Factors
Location is also important. Where is the school located? Is it in a rural area? This factor may slightly lower your car insurance rates. Moving from a city to a quieter area can make a significant difference in rates. However, the alternative, if they’re heading to a big school in the middle of the city where the crime rates might be higher than normal, could cause their insurance rates to go up. At that point, it might be easier to put the car into storage, which leads to an entirely different type of car insurance and have them rely on public transportation.
Take Advantage of Potential Student Discounts
One benefit to having a college student is the potential for insurance discounts. Some insurers provide exclusive deals for college students, especially if their grades remain high. It’s important to ask about these money-saving options, whether they involve the student getting a deal for leaving their vehicle at home in storage or taking it to school with them.
Have Questions About Your College Student’s Car Insurance?
Does your college student need their own auto policy, or can they remain on the family plan? Do you have numerous questions about how taking their car to campus affects your insurance rates? If you need help, contact Spivey Insurance. Our well-trained and knowledgeable agents can answer your questions and find the best possible plans for your needs.