If you’re a college student, you’re learning to handle a lot of new experiences on your own. You’ve got a lot of freedom, but with that freedom comes a word that strikes fear into the hearts of even the most intrepid college students: adulting. It’s not easy to be a grown-up, and one thing that you might be dreading having to deal with is car insurance. There are a few things that it’s helpful to know when it comes to college student car insurance.
6 tips for getting college student car insurance.
Here are a few tips for getting college student car insurance:
1. Look into college student car insurance discounts.
Yes, we did use the magic word – discounts! Money can be tight when you’re in college, and saving money is a definite plus. Car insurance for young drivers can be pretty expensive. But not to fear! You can get some discounts on your college student car insurance. Here are a few that you might be eligible for:
Good student: If you make good grades, you might be eligible for a Good Student Discount. You can rack up some savings on your insurance just by doing well in class! Keep in mind that you’ll probably have to be able to show proof of your good-student status, like a transcript.
Away-at-school: As a college student, you may be able to get a discount if you’re going to school a certain distance away from home (i.e. 100 miles) and you’re not bringing a car. (You might be able to help your family save money on your car insurance.)
Bundling: If you’re bringing a car to school and you’ll also be living in an apartment, you may be able to save money by bundling your car insurance and your renters’ insurance. (We’ll explain more about this in a bit.)
Pay-in-full: You also might save money on your car insurance in the long run if you’re willing to pay your premium in full rather than paying in installments. Yes, the sticker shock might be a bit of a blow, but it’s worth evaluating your options.
These are just a few potential discounts you might be eligible for. When you’re getting your insurance, don’t forget to ask about discounts. They’re an easy way to save money on your college student car insurance.
2. Understand the different coverages.
You also have to make sure that you understand your different insurance options. There are a few coverages that are really important to know about:
Bodily injury liability: Bodily injury liability can help cover the other driver’s medical expenses and lost income if they are injured in an accident in which you’re at fault.
Property damage liability: Property damage liability can help you cover the costs of repairing the other driver’s car if you’re at fault in an accident.
Collision coverage: Collision coverage can help you repair your car following an accident – or if you manage to hit something else.
Comprehensive coverage: Comprehensive coverage can help you repair your car if there’s a loss that isn’t an accident – for example, theft, fire, vandalism, falling objects, or animal strike.
Pro tip: Keep in mind that bodily injury liability and property damage liability are often required by the state, while collision and comprehensive coverage are often required by lenders if you have a car payment.
Uninsured/Underinsured motorist: UM/UIM coverage can help you if another driver causes an accident and doesn’t have insurance (or doesn’t have enough insurance) to cover the entire cost of the accident.
Rental reimbursement: Rental reimbursement coverage can help you cover the costs of renting a car if yours is in the shop following an accident.
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3. Consider bundling your renters insurance and your auto insurance.
If you’ll need renters insurance because you have an apartment, you can consider bundling your renters and auto insurance. (All this means is you’re getting both coverages from the same insurance carrier.) Anyways, a lot of carriers offer a multi-line discount, so you could save money just by getting your renters insurance and car insurance from the same carrier. It’s definitely something to consider. See if bundling would be the right option for you.
4. Drive safe.
It’s really important to keep a clean driving record, which means driving safe. This can help you keep your insurance rates down. Otherwise, you could be facing a very high car insurance premium. So, be careful behind the wheel.
5. Be proactive – try not to procrastinate on getting your insurance.
When you get your car insurance quotes, try not to wait until the last minute. You’ll save yourself a lot of stress, and you’ll have more time to explore different car insurance options. If possible, give yourself plenty of time to get car insurance. Procrastination might be tempting, but spare yourself the headache – you’ll thank yourself later!
6. Get multiple quotes.
It’s also not a bad idea to get multiple quotes for your insurance. You can compare your options that way, looking at coverages and such. But when it comes to comparing prices, make sure that comparing apples to apples, meaning that you’re looking at the limits and quality of coverage for each option, not just the price tag. (For example, one option might be cheaper because it’s being presented with lower limits of coverage than another.) Comparing apples to oranges isn’t going to be much help to you. Anyway – by getting multiple quotes, you can get the same quality coverage at a lower price.
Now, getting multiple quotes for car insurance might seem like a lot of work, and it might seem daunting. But that’s where our team of insurance agents can help. We’ll get multiple quotes for you, and we’ll explain the coverage and answer any questions you might have. Get started with insurance quotes by filling out our online quote form or messaging us on LiveChat. (You can also give us a call if that works best for you.)
