trope : College scholar sitting in the driver ‘s seat of her car, looking out of the window and smiling car indemnity for college students can be expensive. But you may be able to reduce your costs by staying on a parent ’ second policy, working with an insurance company that offers insurance discounts to younger drivers or limiting how much you drive. editorial notice : Credit Karma receives recompense from third-party advertisers, but that doesn ’ thyroxine affect our editors ’ opinions. Our third-party advertisers don ’ t revue, approve or endorse our editorial content. It ’ s accurate to the best of our cognition when posted .Advertiser Disclosure

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Car insurance typically costs more for younger drivers, including younger college students, than for more-experienced drivers. But shopping around to compare rates and looking for discounts may help you pay less.

One of the reasons car insurance companies tend to charge young drivers more is because they ’ re considered more likely to be in a car barge in. Drivers ages 16 to 19 are about three times more likely than drivers ages 20 and older to get into a black accident, according to the Centers for Disease Control and Prevention .
But flush if you ’ re a scholar, you may be able to lower your car policy premium. So before you head off to school, hera are three things to know as you consider your policy options and likely ways to save on coverage .
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1. College students may be able to stay on a parent’s policy

One way to keep your car insurance rates down is to stay on a rear ’ s policy. This may be possible even if you go to school out of country — as long one of your parents is listed on the style of the car you drive. But if you have your own car and you ’ re the only person listed on the deed, you ’ ll credibly have to get a separate policy, which typically costs more .
If you plan to live at home while attending college, you may be able to stay on a parent ’ second policy if you don ’ t own the vehicle you ’ ll be driving. But if you ’ ll be living on campus or renting an apartment during the school class, check with your insurance caller to find out if you need to buy your own coverage.

flush if you ’ ra not taking a car to college, it ’ south generally a commodity mind to stay on a parent ’ sulfur insurance policy so that you ’ re covered if you ever need to drive at home for breaks. Your rear might evening get a discount rate on their policy if you plan to keep your car at home while you ’ re away at school — ampere long as that rear owns the car. Remaining on a parent ’ second car policy can besides help you avoid coverage lapses, which can drive up your rates when you buy your own insurance policy down the road .

2. College students, as younger drivers, typically pay more for car insurance

While insurance providers typically charge younger drivers, like college students, higher car indemnity rates, the amount you ’ ll pay depends on many factors. But remember : If you can stay on a parent ’ sulfur policy, you ’ ll typically pay less .
If you need to have a car at school and staying on a parent ’ mho policy international relations and security network ’ t an option, buying your own policy can be expensive. here are a few of the factors that can influence your rates .

  • Location Auto insurance companies establish rates based on where the car is located. If your vehicle is in an urban area, rates may be higher than if it were in the suburbs or a rural area.
  • Age Typically, the younger you are, the higher your rates will be. Insurance premiums tend to drop significantly after you turn 25 if you have a decent driving record.
  • How much you drive — In general, the more you drive, the higher your insurance premium will be because you’re more likely to get into an accident. If you don’t plan to drive much while you’re at school, a pay-per-mile policy might save you money.

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3. College students may be able to get discounts on car insurance

Although some factors that affect rates — such as your senesce — are out of your control, there are things you can do to reduce your price. many companies offer a variety of car policy discounts you may be able to take advantage of. here are some examples, though these can vary by insurance supplier and country .

  • Resident
    student discount —
    If you’re going away to school but
    plan to keep your car at home and remain on a parent’s policy, your parent may be
    able to get a discount since you won’t be driving much.
  • Good-student
    discount —
    If you hit the books and maintain a certain
    GPA (this can vary by insurance company), you could qualify for a good-grade discount.
  • Multiple
    policy discount —
    Insurance companies often offer
    discounts to people who purchase more than one policy, such as an auto policy
    and renters insurance.
  • Anti-theft
    device discount —
    If you take extra steps to protect
    your car from being stolen, like installing a car alarm, you may qualify for a reduced
  • Driver
    training discount —
    If you’re under 21 and take a course
    in safe driving or driver education, you may qualify for a discount.
  • Organization
    member discount —
    Some car insurance companies offer
    discounts to members of certain fraternities, sororities, honor societies or
    other student organizations.

Be certain to ask any policy companies you ’ re considering about discounts they might offer, such as those listed above or any other relevant discounts. For case, Erie Insurance offers a youthful-driver discount rate to unmarried students under age 21 who live with their parents. If you ’ re going to school in state and don ’ deoxythymidine monophosphate plan to live on campus, it may be worth checking out .

What’s next?

If you ’ re heading off to college, check with your parent ’ sulfur indemnity ship’s company or agent to find out whether you ’ ll be covered by their policy while you ’ re at school and if the rate to maintain coverage will change.

If you don ’ metric ton stipulate for coverage under your parent ’ second policy, workshop around to find a commodity, low-cost car indemnity policy that meets your needs. Ask about all available discounts and compare quotes from multiple providers to help ensure you get the best car policy for your situation .
Paying excessively much for car indemnity ?

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About the author: Jennifer Brozic is a freelance financial services writer with a bachelor’s degree in journalism from the University of Maryland and a master’s degree in communication management from Towson University. She’s committed… Jennifer Brozic is a freelance fiscal services writer with a bachelor ’ s degree in journalism from the University of Maryland and a passkey ’ s degree in communication management from Towson University. She ’ mho committed… Read more.

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