Attending college is a unique experience. You meet many people from different backgrounds, make lasting relationships, learn hard lessons, and get closer to full-fledged adulthood. As a college student, you understand how to adapt to whatever life throws at you. From managing your studies to juggling your budget to holding yourself accountable, your time in college will prepare you for the future.
Adding coverage to your auto insurance is a great way to protect your finances and prepare for the unexpected. If you need more convincing on beefing up your policy, learn why college students should get additional auto insurance.
Do College Students Pay More?
Many young people fall victim to inflated pricing due to age. Anyone under 25 can contest that life is expensive, from rental car surcharges to liability deposits. Unfortunately, the same goes for auto insurance. You will likely pay more if you’re under 25, have just received your license, or have moved near a college campus. Insurance agents consider you a high-risk driver since most theft, vandalism, burglaries, and other crimes happen in highly populated areas like college towns.
How You Can Save Money on Auto Insurance
Auto insurance can add up; it’s an essential part of owning a vehicle. Your location, vehicle make and model, and your driving record impact your monthly premium. Auto insurance companies typically charge younger drivers more because they’re assumed to be high-risk. Therefore, college students should get additional auto coverage.
Signing up for additional auto insurance is the best way to protect your finances from unforeseen incidents. You can save money on your policy by refreshing your road safety knowledge and keeping a good driving record. Interestingly, modding your vehicle can affect your insurance. Safety mods can make you a safer driver and a lower risk for insurance providers. Some insurance companies even offer Good Student Discounts for getting good grades and verifying your enrollment in college!
Taking great care of your car will help you create a maintenance routine. Not only will this help you save money on upkeep, but it could also reduce your insurance premium. Keep your driving record and auto claim record clean by ensuring your vehicle is in great condition. You can use car cleaning kits to clean your vehicle as often as you want. Using steering wheel cleaners will also keep your car sanitary and looking good.
Should Students Stay on Their Parent’s Coverage?
Staying on your parent’s car insurance coverage is the best option to help you save money and reduce your insurance expenses. However, if you stay on their policy, the car will remain in their name, registered to your parent’s address. Depending on your parents’ location and driving record, you can get a better deal on insurance. However, if your college is in a rural area and you have a better driving record than your parents, you could save money by getting your own insurance plan.