How Should College Students Approach Finding Auto Insurance

Attending college is an exciting time in your life, and it also gives you the opportunity to manage your finances. Perhaps you are looking to establish a budget that aligns with your financial goals. Perhaps you’ve sat down with your parents and brainstormed how to find an affordable King County, WA auto insurance policy. Things may differ depending on whether you are attending college nearby or moving away from home.

Another important variable is the owner of the vehicle that you are driving. If you are attending a college close to your parent’s address, you should be able to stay on their auto insurance policy. You may need to find your own coverage if you’re staying on campus during the entire school year. Shopping for auto insurance is likely a significant part of your budget. Here’s a look at some things to consider.

  • Car Title

The name on the car title is important. If the car is titled in your parent’s name and you’re using it while you’re away at school, you may be able to stay on your parent’s Renton, WA auto insurance policy. You should also be able to stay on your parent’s auto insurance policy if the car has both your and your parent’s name on the title. If your name is the only one on the title, you’ll have to purchase a separate auto insurance policy with your name on it.

  • Obtaining Coverage During College

Before you start college, look over your current King County auto insurance policy to ensure that you have the necessary protection in place. You may have to adjust your policy depending on whether you are staying on campus or simply commuting. If you are living on campus, consider adding comprehensive coverage. Parking your car outside in the parking lot leaves you exposed to potential risks.

Comprehensive coverage can help replace your vehicle if it’s stolen or severely damaged. Collision coverage is a good option if you are simply commuting. Collision coverage can help pay for repairs if you are simply driving to and from class and you collide with another vehicle. If you’re leasing a vehicle, the lender will generally require you to obtain full coverage. Choosing one type of auto coverage will help you save money on premiums, but also leaves you vulnerable in some situations.

  • Potential Discounts

Good Grades

If you have a track record of academic excellence, you will likely qualify for a good student discount. Full-time students are eligible to receive the good grades discount until they turn 25.

Resident Discount

If you primarily drive a car that your parents own, you can qualify for a discount if you leave it at their home while you stay on campus. If your college is a few hours away from home, your parents can receive a discount because you aren’t driving as frequently now that you are away at school.

Multiple Policies Discount

If you rent an apartment and have your own auto insurance policy, you may qualify for a discount by bundling your insurance policies together. Many insurance companies will offer you a discount if you purchase auto and renters coverage through them.

Security Discount

If you are attending college in an unfamiliar area, consider researching the local crime statistics. This can help you find a safe place to stay while adjusting to college life. You may qualify for a discount if you install an anti-theft device and other enhanced safety features on your vehicle. Installing these safety features drastically reduces the chances that your vehicle will be stolen.

You should be able to find the insurance coverage that aligns with your specific situation. Consider speaking with your parents and creating a budget before making a decision. If you have any questions about your auto insurance coverage, our insurance professionals at Humble & Davenport Insurance Brokers, Inc. can assist you.

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