Auto Insurance for Students Away from Home
Young drivers have been exposed to higher premiums than they can afford. When a family decides to add a new driver to their auto insurance for students policy, the amount of money they have to pay often increases dramatically.
And often when you’re looking for cheap auto insurance for students, you may need to increase your deductible to get a cheap rate you can afford while you’re at school.
The benefit of cheap auto insurance for students is that you get the best rates if you can stay above a 3.0 GPA. Many companies call this a “Good student discount,” giving you cheaper car insurance as long as you keep your grades.
If you go to a state university, your college often has a company that works with them and can offer you cheap student car insurance.
However, not all colleges and universities have companies that work with them, but it never hurts to ask. There are two ways you can get cheap auto insurance for students if your college doesn’t offer it to you.
Auto Insurance for Students
Any student who is labeled a “good student” can often find an auto insurer willing to offer a better auto insurance premium. But how does one get called a “good student” for that purpose?
Let’s take a look at some specific criteria unique to auto insurance companies to determine which students deserve the coveted Good Student driver discount.
Good grades, a high GPA or an entry in the roll of honor are criteria that you deserve affordable auto insurance for students. As a ‘good student’ you are a desirable customer for a freight forwarder because you are expected to take a good risk. This means that the insurer is willing to offer you a reduction in the cost of your insurance premium.
In fact, there are other ways to prove you’re a “good student.” If you’re enrolled in a full-time university or community college program, some auto insurers will rate you favorably in terms of risk and offer a cheaper auto insurance premium. Offer the information to a range of insurers and see what response you get.
Don’t just give in and pay an exorbitant insurance premium. Find ways to claim a premium reduction. Sometimes we get overwhelmed by the little things in making a legitimate claim for such discounts, but when you get this lower premium you’ll agree it was time very well spent.
The status of a “good student” is not the end of the struggle for a good deal. There are other ways to undercut this premium. If you bought a cheap vehicle, you can make some adjustments to the insurance coverage. There are two options: higher deductibles or no comprehensive and fully comprehensive insurance.
With a cheap car, these steps make sense, but you would have to shoulder the burden financially if you were involved in an accident. While you can increase the deductible to lower the premium if you have a high-end car and are not a risky driver, it would be unwise to forego comprehensive and comprehensive insurance.
What Does Auto Insurance Cover?
While there are always some exceptions to the rule, most auto insurance for students policies cover the following:
- Damage to your car and other vehicles involved in an accident involving you that is covered by property liability and comprehensive insurance
- Injury to you or others involved in an accident involving you that is covered by personal injury liability and personal injury protection
- Theft and other damage to your parked or stationary vehicle covered by comprehensive insurance
- The current value of your vehicle in the event of a total loss
Some of the coverages listed are optional in some states, so it’s important that you thoroughly understand your coverage choices when signing up for auto insurance for students. Additionally, it is important to know that car insurance does not cover repairs, vehicle maintenance, vehicle interiors, and after-market and non-standard parts unless stated in the policy.
Auto Insurance For College Students
USAA and State Farm were, on average, the cheapest auto insurance companies for college students, averaging around $200 to $275 per month. However, these companies may not be a perfect match for you. Auto insurance for students is often expensive, but you also want to get the right policy.
You should always compare auto insurance quotes from as many companies as possible. Below are the rates of some of the best auto insurance companies for college-age drivers.
| Company | Avg. Monthly Premium | Avg. Yearly Premium |
| USAA | $209 | $2,509 |
| State Farm | $275 | $3,301 |
| GEICO | $316 | $3,793 |
| Nationwide | $364 | $4,365 |
| Progressive | $370 | $4,443 |
| Farmers | $372 | $4,468 |
| Allstate | $412 | $4,947 |
| Liberty Mutual | $589 | $7,064 |
Auto Insurance for High School Students
Purchasing auto insurance for students as a high school student raises some important considerations – namely, when a student should be included in the family policy and how much it will cost. Car insurance companies use your driving license as an evaluation factor when determining tariffs.
On average, adding a teenage driver to an auto insurance for students policy increases the premium by more than $100 per month. Because of their lack of driving experience and their tendency to take risks behind the wheel, teenage drivers are considered very risky – and expensive – insurance customers.
| Company | Avg. Monthly Premium | Avg. Annual Premium |
| USAA | $355 | $4,257 |
| State Farm | $429 | $5,144 |
| GEICO | $478 | $5,735 |
| Nationwide | $493 | $5,917 |
| Allstate | $614 | $7,363 |
| Farmers | $681 | $8,168 |
| Liberty Mutual | $741 | $8,886 |
| Progressive | $752 | $9,029 |
Tips On Finding Cheap Auto Insurance For College Students
1. Compare Offers
Comparing quotes is important for anyone purchasing auto insurance for students, as premiums vary widely by company. However, it is particularly important for students, as they usually pay more due to their age.
2. Take Advantage Of Discounts
College students should look for good student discounts, out-of-school student discounts, and driver training discounts. Also, look for discounts that aren’t college-related, and don’t be afraid to call your insurance company to make sure you’re getting any discount you’re eligible for.
3. Evaluate Your Coverage Options
In many states, the minimum liability regulations are not sufficient to protect you from the financial consequences of a serious accident. But everyone’s circumstances are different, so do your research before choosing your coverage types and amounts. For example, if you drive an old car that isn’t worth much, it might be better to save up for a new car than to spend more on comprehensive insurance.
4. If Possible, Stick With Your Family Policy
Most college students are eligible to stay with their family’s auto insurance, which is usually cheaper than getting your own policy.
On the other hand, it may be cheaper to get your own policy if one of your family members has a bad driver’s license or if you’re studying in an area with cheaper auto insurance for students. In addition, you will need your own policy if you are no longer considered dependent or if you are moving somewhere else permanently.
How Can Students Save Money On Car Insurance?
With car insurance rates for young drivers well above the national average cost of car insurance, finding ways to save money can be crucial. To find cheap college student car insurance, there are a number of quotes you can use to get an idea of what you will be paying.
You may also want to keep an eye out for discounts that have the potential to significantly lower your student’s premium.
Your student may be able to get discounts for:
- Keep good grades. Some insurers reward students for doing well in school. For example, an insurer might lower a college student’s rate if his or her transcript consistently has at least a B-average or a 3.0 GPA. This discount can apply to high school, college and graduate school drivers, often up to the age of 25.
- Stay accident-free. If you are a safe driver and for a period set by your car insurance, e.g. B. three years, have not had an accident, your insurer can lower your premium.
- Have multiple policies. If students or parents bundle different types of auto insurance for students (e.g. car and home or car and renter) with the same carrier, they may pay less.
- Affiliation to an organization. Are you a member of a fraternity, sorority, honor society, or other membership organization? In this case, you can take advantage of a discount on auto insurance for students. Different insurers work with different organizations, so check with your insurance agent.
- Enrollment at a specific college or university. Some institutions work with insurers, so you are entitled to insurance discounts during your studies.
- Attending a school far away. Many auto insurers offer a discount if a student goes to school at least 100 miles from their primary residence and does not have their own (or a parent’s) vehicle on campus.
- Being in the military. If you’re on active duty, in the reserve, or in a close relationship with someone who served in the military, some insurance companies may give you a military discount.
- Participation in a telematics program. Many insurers use telematics technology to monitor how safe you are behind the wheel and how often you drive. Each program is different, but all collect data – such as B. how fast you drive, when you drive, how hard you brake and your mileage – to rate you. If you stay within the safety zones set by the insurer or drive infrequently, you may be eligible for a discounted rate.
How to choose the best student car insurance
Should You Get Car Insurance As A Student?
Not only can auto insurance for students provide valuable financial protection, but it is also required in most states. Minimum amounts of coverage may vary by state; For example, personal injury insurance is only required in certain states. But in general, getting auto insurance is important and necessary.
As a student, auto insurance can help protect your savings if you are involved in an accident. Whether you or another driver is at fault, the right insurance can help cover the cost of damage to your vehicle or someone else’s vehicle, medical bills, property damage, and more.
How To Compare Auto Insurance for Students?
When looking for auto policies, consider these factors to determine the best coverage for your needs.
- Types of Coverage: While most auto insurance for students providers offer collision and collision damage waiver, it’s still important to review the types of coverage available when shopping. This is especially true if you’re looking for special coverage like roadside assistance or ridesharing insurance.
- Available States: Some providers only offer coverage in certain states. Make sure the insurer you choose to work with issues policies where you live.
- Cost: The cost of policy premiums is an important factor, especially if you’re on a tight budget. Keep in mind that drivers under the age of 25 may pay higher premiums than older drivers.
- Discounts: Many insurers offer general discounts for policy bundling and safe driving, but some also offer special discounts for students. For example, you may be able to get a rebate if you maintain a certain GPA or are under the age of 25 and have no fault-related accidents.
- Ratings: Check company ratings before getting a policy. This can give you an insight into whether the company is financially healthy or how it is viewed by customers. For example, if an insurer has a high AM Best rating, they are generally financially stable. And a high rating from J.D. Power can indicate high customer satisfaction.
Choosing A Company Provides Auto Insurance for Students
Because different insurers offer different coverage options, availability, premium costs, and more, it’s important to look for a policy that meets your needs. The providers we’ve selected here reflect some of the best options for students, whether you’re looking for special discounts or great rewards.
After you’ve found the right coverage for you, it’s time to apply for a policy. Generally, you can start this process online, although certain insurers may require that you speak to a local representative to complete an application.
Once you have a new policy, you can usually manage your account and make payments online or through your provider’s mobile app.
Frequently Asked Question (FAQs)
Do Students Need Auto Insurance?
Pretty much everyone who gets behind the wheel of a vehicle at any time is required to have auto insurance, as all but two states require some form of it. Even if a student only plans to drive a family vehicle when they come home from college during recess, that student needs to get auto insurance.
Warning: Some colleges and universities do not allow freshmen to park a car in the campus lot. Check your school’s policies in advance.
Do College Students Get Car Insurance Discounts?
Although the exact discounts vary between auto insurance for students providers, many companies offer discounts that are specific to students.
A popular one is a good student discount, which offers a reduction in the rate for students who maintain a certain grade point average.
In addition, some auto insurance companies offer discounts to college students who are not attending college at home and only occasionally drive a family vehicle.
Can College Students Stay With Their Parents’ Insurance?
In some cases, college students can keep auto insurance for students with their parents. This can save significant amounts of money, but families need to ensure their situation meets eligibility requirements.
If a student lives at home and drives a car owned by a parent, they can usually remain with their parents’ car insurance. This is often the case for students who live in dormitories or attend out-of-state schools during the school year.
However, if the name on the vehicle title is that of the student and their primary address does not match their parents’ primary residence, many auto insurance companies will not allow students to maintain a family policy. Always check with the company you are using before assuming anything about their policy and what is or isn’t allowed.
How Do I Get A Good Student Discount For Car Insurance?
You can get a good student auto insurance for students discount if you are a high school or college student with at least a B grade point average.
All of the top 10 insurance companies offer a good student discount, and qualifications are usually the same across insurers.
However, the exact rebate amounts may vary by company and state. For example, State Farm’s good student discount can save you up to 25% on your premium.