Car Insurance for College Students Away From Home

In 2020, about 19.4 million students attended college. When you’re headed to college, there are a lot of things you need to consider. However, it’s important not to forget to look into car insurance for college students away from home.

As a student in college, you will most likely have to get your own car insurance at some point. But, it can be challenging to find a policy that’s affordable.

If you’re headed to college and need to save on insurance and spend on books, keep reading for car insurance advice.

To start off, you may be wondering if you can stay on your parent’s insurance policy while you are in college. The answer to this question depends on your circumstances.

College Students Who Need Their Own Policy

The first thing you will want to do is investigate your current insurance policy. If your parents have you on their policy, you may have to go through the hassle of switching to your own plan.

Sometimes, your parents may not have the ability to keep you on their policy due to the cost. However, if you’re moving out and taking your car with you to college, you actually can’t stay on your parent’s policy.

If you’re living on your own, you will have to be on your own policy.

College Students Who Can Stay on Their Parent’s Policy

If you’re headed to college but not taking a car, you might be able to stay on your parent’s policy. Many insurance companies have plans for students that only drive when they come home on the holidays.

However, you need to keep in mind that you won’t be insured to drive other cars while away at college in this circumstance. You can also stay on your parent’s policy if you will be living at home while attending college.

Can College Students Stay on Their Parent's Policy?

Choosing the Right Car Insurance for College Students

College is expensive, and regardless of your situation, you need to make sure that you find the right insurance policy. You will want to check with your parents to see what they recommend.

Insurance companies tend to offer a wide range of options. When it comes to choosing car insurance for college students away from home, you will need to consider the following factors.

Your Driving Record

Your driving record will be a big indicator to the car insurance company about how much you will cost. An incident or accident on your record will likely raise the cost of your policy.

Collision vs. Comprehensive

Collision and comprehensive coverage are the two most important types of coverage that you need to consider. Collision coverage will help pay for damages to your car if you get into an accident.

Comprehensive coverage will pay for damages to your car from incidents that aren’t related to an accident, like if your car is stolen or damaged by hail.

Your Vehicle

Not all vehicles are the same. You will need to look at your car to determine the cost of your insurance policy. If you have a sports car that you drive fast and hard, you are likely to cost more on your policy than someone who drives a car like a Honda Civic.

Your Location

Location can also play a role in your insurance rates. If you are from a place that has a high crime rate and people get their cars broken into all the time, you will cost more for the same vehicle than someone who lives in a quiet, low-crime area.

Factors you control can also affect what you pay, especially when your driving record, vehicle choice, and coverage decisions all influence the final premium.

Your Age

Insurance companies will usually want to know your age before you can get car insurance for college students away from home. Your age does work in your favor if you’re older, but if you’re a young adult, you’re more likely to have accidents and incur more costs. This can increase your car insurance premium.

How to Save Money on Car Insurance for College Students

Fortunately, there are ways you can save money on your car insurance if you’re a college student. Ways to save on insurance rates can also help college drivers lower costs, especially when discounts, deductibles, and policy choices all affect the final premium. Whether you stay on your parent’s policy or have your own, be sure to look into discounts offered by your insurance company.

Good Student Discount

Some insurance companies may offer a discount if you are a good student. This is typically awarded if you have a GPA of 3.5 or higher.

Student Away at School Discount

If you attend a school that is at a distance from your home, your insurance company may offer you a discount for being away from home so much. Typically you need to be at least 100 miles away from your home. Keep in mind that many insurance companies require proof that you are living away from home.

Bundled Policy

If you get your car insurance for college students away from home and other insurance policies from the same company, you may get a discount. Check with your insurance company to see if there are any bundled policy discounts they can offer. If you also need to purchase renters insurance, it could be beneficial to get it from the same company.

Roadside Assistance

Many insurance policies offer roadside assistance as optional coverage. If you’re a college student away from home, this is a good coverage to add on. If you have your own car and you are away from home, you will likely have to pay for repairs to your car yourself.