College students often pay some of the highest auto insurance premiums because they're relatively young and inexperienced behind the wheel. If you're college-age, however, these auto insurance hacks might help you save money on your premiums.
Stay on Your Parents' Policy
If you live with your parents, you probably have the option to stay on their policy. Even though this will increase their policy's premiums, the increase likely won't be as much as what getting your own policy would cost. Ask to stay on your parents' policy — even if you have to pay your portion of the premiums — and you can indirectly benefit from their lower rates.
Drive the Family's Cheapest Car
If you're on your parents' policy, each vehicle that the family owns will be assigned a primary driver. Make the family's cheapest car your primary vehicle, and your premiums will stay lower as a result.
This works because premiums are based on two major categories of factors — there are factors related to the driver and factors related to the car. As a college student, you're already a more expensive driver to insure. A low-value vehicle will cost less to insure than a high-value one, so your rate-raising impact will be reduced since the cheapest vehicle has lower base premiums.
Look for a Student Away Discount
If you don't go to school in the local area, you might be able to qualify for a student away discount. Insurers offer these discounts to college students who aren't at home and, therefore, aren't driving the family's cars. Even if you bring a car to school, some insurance companies might still offer a small student away discount.
Exactly what requirements you must meet to qualify for a student away discount are determined by your insurance company. In many cases, though, students who go to school outside of their local city can qualify for a rate reduction.
Check for a Low-Mileage Discount
If you don't drive a lot while you're at college (or when you're home), you might qualify for a low-mileage discount. The maximum number of miles you can drive each year varies, but many students who don't go off of campus during the semester can qualify. This isn't the largest discount available, but every little bit off of your premiums helps.
Should you go to school far away, the trips to and from school might jeopardize your ability to get a low-mileage discount. In this situation, carpooling in another student's vehicle on holidays can keep your total mileage low.
For more information about auto insurance, contact a company like Kesner Insurance Agency Inc.
Share8 July 2020
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