One of the major reasons car insurance providers generally charge young drivers more is because they make more mistakes while driving, which causes cars collision. According to the Centers for Disease Control and Prevention, Drivers aged 16 to 19 are approximately three times more likely than drivers aged 20 to experience fatal crashes more.
However, if you are a college-going individual, you may get car insurance at a low premium. There are also three things to keep in mind when you go to college regarding your insurance plans to save cash from spending a considerable amount on premiums.
College-Going Individuals Maybe Rely on a Parent’s Policy.
One way of reducing your car insurance premiums is to rely on a parent’s policy. This may be possible even if you move out of the state. As long as the registration of the vehicle you drive is under one of your parents. However, if you are the only one entitled to the ownership, you generally ought to get a separate insurance policy that might be pricey.
If you decide to stay at home while attending college, you may be able to depend on a parent’s policy. However, if you stay at the campus or stay on rent apartment during academic life; you can communicate with the insurance provider to see if you need to have your coverage.
However, suppose you decide not to take the vehicle to college. In that case, it is generally a wise decision to rely on a parent’s insurance policy. So, whenever you need coverage while driving at home during breaks, you can get it. Also, your parent might get an incentive in terms of a discount if you keep the car at your place while you are at college. As far as the vehicle registers under your parent’s name.
The Younger You Are, The More You Have To Pay
As we know that insurance providers generally ask for high premiums from students, the premium you will pay depends on many factors.
Here are the following influential factors that affect the premium in a good sense.
Auto insurance providers charge more from the car owner who lives in an urban area than those who live in the suburbs or a rural area.
The younger you are, the more you have to pay in terms of premium. After 25, premiums significantly drop if you have a clean driving history.
- The Way You Drive
If you have a clean history regarding car driving, it will help you get auto insurance at a minimal premium. You can also take a pay-per-mile policy if you do not drive much compared to the average driver.
Discounts on Auto Insurance
As some factors, such as age, are out of your control, you can do other practical things to reduce the premium. However, the factor varies by different insurance companies and the state. Here are a few examples:
- Resident Student Discount
If you go to college but decide to leave your car at your place and continue with your parent’s insurance policy, your parent may get a discount since the vehicle is not under much use.
- Good Student Discount
You will qualify to receive a discount if you hit the books and obtain a certain GPA (this will vary by the insurance company).
- Multiple-Policy Discount
Insurance providers sometimes offer discounts to customers who buy more than one policy, for example, auto insurance policy and healthcare insurance.
- Training Discount
You can apply for a discount if you are under 21 and take a driver training course.
- Association Member Discount
Some insurance providers offer discounts to members of some associations.
All in all, ask your insurance providers about discounts they might give, such as those mentioned above, or any other relevant discounts.