When it comes to getting auto insurance as a college student, the price of coverage can sometimes be higher than the price an older adult would pay. However, there are ways for college students to obtain cheap auto insurance that still provides the coverage they need. If you need coverage and are a young adult, learn about some of the things you can do to obtain coverage.
Good Student Discounts
Most people are aware of the good student discount offered to high school students, but what is less known is that this discount is also available to college students, including some students at the graduate level. To qualify for this discount, you typically need to provide the insurance company with proof that you have at least a B average. Speak with your insurance agent to learn about the specific requirements of your company.
Mileage Tracker Savings
Another way to save is to enroll in a mileage tracker program with your auto insurance company. Insurance companies often price their coverage based on the driver's usage of the vehicle. For example, a student who only drives their vehicle on the weekend may qualify for a lower rate than someone who drives 30 miles to class each day. To qualify for this discount, you will typically be required to install a tracking system in your vehicle.
If you are a part of any organization on campus, make sure you find out whether your affiliation can help you save money. Fraternities, sororities, and other service organizations sometimes qualify for insurance discounts. It is also worth noting that some companies offer discounts to students at certain universities, so make sure you also bring up your enrollment. Similar to the good student discount, be prepared to submit proof of your affiliation to qualify for a discount.
Family vs. Individual Policies
Sit down with your family to assess whether it is best to invest in your own policy or whether you should remain on your family's policy. Auto insurance companies allow college students to remain on their parents' policies, even if they do not attend school in the same location as their parents. From the age of your parents to having multiple vehicles on the policy, sometimes remaining on your parents' policy can help you save.
Reach out to a company in your area, such as Illinois Insurance Center Inc, for more information on this topic.
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