Car Insurance Rate For College Students
Reader's Question:
Im going to college. How will this affect my current car insurance premium?
Ben
New York NY
Starting a new chapter of their lives is crucial for recent college graduates. As new responsibilities would arise, it is important for them to maintain their budget low, alongside this is keeping their car insurance premiums at the minimum. Insurance discounts for graduates are usually adjustments made to the individual risk assessment based on their new level of education achieved.
Good student discounts are given to students to help them lower their car insurance premium. This discounts usually last until they reached the age of 25 for this is a typical breakpoint age where insurance companies would start to reduce premium levels. For graduates who have maintained a high grade point average would be rewarded by insurance companies as they will continue to receive college graduate discounts.
The driver's level of education is one of the many factors that insurance companies would consider determine the risk level of an individual driver and when providing car insurance quote. Achieving a degree would be a plus to reduce the level of risk the insurance company assigns to a driver, thereby getting the best rate available.
Do I Need To Add College Student To Parent Auto Insurance
Reader's Question:
My 20 year old son does not live with me. He goes to college. Do I still need to add him to my car insurance policy?
Melinda
Chicago IL
Auto insurance carrier's guidelines vary however, if your son is a student and no longer living in your household, it is likely that your car insurance company would not continue to let you to keep your son or his vehicle on your car insurance policy.
Since your son is living in a separate house some insurers would not want to continue to insure him on the car insurance policy. Many car insurance providers will not insure automobiles from more than one household. So, your son will probably have to buy his own car insurance policy for his car.
If your son's vehicle is still on your car insurance policy you will need to speak with your car insurance agent if your car insurance carrier will let you insure him since many insurance companies will not insure car from more than one household on a single car insurance policy.
Who Qualifies For Good Student Auto Insurance Discounts
Reader's Question:
Who are qualified to get good student auto insurance discount?
Amy
Chicago IL
Most car insurance providers offer good students with additional discount to help lower car insurance rate for students. This good student discount is usually rewarded to single drivers under 25 years of age. Typically, to be able to take advantage of this discount you need to meet the following requirement:
- single drivers under 25 years of age but not less than 16 years of age
- full-time students in high school or enrolled as full-time students in academic courses in a college or university or graduated from a four year college or university and currently have a good student discount applied to his/her car insurance policy
- belong to the upper 20% of the class in academic standing or have a grade average of "B" or its equivalent or belong as a "Dean’s List," "Honor Rolls"
Not all car insurance companies offer this good student discount. It is best to ask your car insurance company if this discount may be applied to you. You can also do comparison shop to see how much savings this good student discount will apply to you.
Cheapest Student Car Insurance
Reader's Question:
Im a college student and I am paying for my own car insurance. Is there any way that I can get the cheapest student car insurance?
Karen
San Francisco CA
Most students often wonder why they are paying high premiums for their auto insurances. They have been paying much expense trying to further their education and still have to pay for expensive auto insurance premiums. Insurance rates vary greatly for a few dollars a year and may go up higher all depending on some factors like the student’s type and model of car, gender, driving history and address or state of the student.
It is better to know what factors affect your quotes so you will know how to get the cheapest student car insurance. A student who drives a car coming from high end group such as a sports car is charged with a high premium rate. While a young male, student or not, who drives a sports car is much more charged a higher premium rate. Why is this so? Because insurance companies have their own special way of calculating their rates in order to come up with a certain figure to be charged to the driver. Insurers believe that high end cars such as a sports car are expensive to insure since they have high cost of repair when damaged and are also to prone to theft incidents. On the other hand, young male drivers frequently use their cars and have more accidents as well. It is often these students that are regarded by insurers as high risk drivers and they have their insurance statistics to back them up on this information. Through their statistics they could already predict the risk factors to their business and charging high premiums is their way of protecting it.
Students can basically shop around for quotes from different insurance companies in order for them to get the cheapest student car insurance. In fact, there are some students who are unaware that there are several existing insurance companies who cater auto insurances to certain groups such as students. There is even one discount given by most insurers available just for students. That is when they are able to maintain good grades at school they can get a good student car insurance discount.
Good Student Car Insurance Discounts
Reader's Question:
I have been hearing a lot about good student car insurance. First of all, what qualifies for a "good student?" How much can be can be discounted off the actual price?
Brennan
Canton, MI
It's a good thing you asked this question about good student car insurance for you just might qualify for discounted rates. Are you getting good grades in school? Are you able to maintain an average of not lower than 'B'? If your answer is yes, then you should be able to enjoy such good-student benefits. You can ask your auto insurance provider about it.
Most insurance companies do give incentives on students who maintain a high GPA of 3.0 or an average not lower than 'B'. Students with high scholastic records could easily slash as much as 10 to 25 percent off their premiums. The higher your grades, the higher your chance of getting discounted rates. How about age? Usually, those who are 21 to 25 years old can enjoy these benefits.
You may wonder what logic works behind such companies' giving this somewhat "too good to be true discount rates," considering they are the ones who think teens this age are high-risk, in the first place. Teenagers are summarily considered risk-takers, so what could possibly cause them to change their minds and offer low rates and discounts who do well in school? Well, for every rule, there are exceptions. Teens or young drivers who behave at school and get good grades form one such exemption. The very reason for low rates for teenagers who get good marks in school is the fact that statistically, they prove to be better drivers than their common peers. They prove to be safer drivers, and are deemed more likely to obey traffic rules.
How To Get Student Driver Discount Car Insurance
Reader's Question:
How can I get a student discount car insurance? My dad is buying me a 1999 Civic next month.
Edgar
Anaheim, CA
You can get a student discount car insurance by maintaining a certain grade point average (GPA) that is required by the insurance company. You should be aware, though, that not all car insurance companies require the same GPA (and not all companies offer this type of discount)--that's why you need to be very specific when you consult an insurance agent. Car insurance companies give discounts to students who maintain good grades because they believe that these students are less likely to violate traffic rules or cause road accidents. However, not all companies believe in this--that's why not all of them offer this type of discount.
If you are still living with your dad, I suggest you get coverage from his own policy than get your own. Having a separate policy is impractical because you would have to include your dad in your policy's coverage. At the same time, since your dad has his own policy, he has to include you in his policy coverage, too. It's redundant because you're being covered twice, and at the same time it's impractical because you're paying for redundant coverage. I'm not sure if you know this, but all household members who are capable of driving have to be included in one household member's policy. This is because it is assumed that while the policy owner is the primary driver, the household members act as the secondary drivers. Since you and your dad are in the same household, both of you are considered as secondary drivers to each other's cars.
You could tell your dad to just include in his policy the 1999 Civic instead of getting you your own. Tell him that this is more practical. Otherwise, ask him to call an insurance agent so he could get more advice.
Car Insurance For Student Drivers
Reader's Question:
I need car insurance for student drivers. My twin sons are turning eighteen and they will be getting their driver's license soon. I would say both are careful drivers, but one of them has recently been getting speeding tickets. Would their rates be different, considering that they are the same age?
Jessica
Henderson, NV
Your sons have yet to receive their licenses. I suggest that you wait till then. It's really more a question of whether both of them could get it and be able to purchase car insurance. It sounds harsh, but one of your sons has been getting speeding tickets, and that might pose as a problem, as far as getting a license is concerned. All fifty states right now impose zero tolerance for drunk driving, and the rules that apply to this are similar with that of speeding. If he is using a provisional license now, the same restrictions apply as when he was still using just a learner's permit. Good thing his license has not been revoked. I suggest you double-check with the DMV regarding the matter.
And as for getting car insurance for students, your twins could get their insurance when they have their licenses. I trust it will be more expensive for the one with the speeding tickets. It just shows that having clean driving records does come in handy at any age; it is best if your sons are mindful of this early on. You could never emphasize to them the importance of being a careful and responsible driver, not only to get cheaper car insurance and to be able to afford better coverage, but more importantly, for their safety while on the road as well.
Discount Student Car Insurance
Reader's Question:
I'm a working UCLA student and heard from my fellow students that there is discount student car insurance available to people like me. I want to know more about them because I really need all the dough I can muster up for next semester.
Abe
Burbank, CA
Abe, because you are a fellow Bruin, I would very much like to help you save up for your college fund. Your schoolmate is very much correct about the existence of a student car insurance. Usually, Abe, those belonging to the age group of below 25 are assessed as highly risked individuals behind the steering wheel. So just because of the age factor, you are already paying higher car insurance rates than those above the aged 25 age group.
However, it is not always the case. There are ways to lower your premiums. Even if you are classified in the under 25 age group, you don't have to pay the prescribed amount for that age because it doesn't mean that all those of the same age have the same profile. But, of course, you have to show proof that you are not indeed a typical high risked individual just because of your age. To disprove your age bracket profile, you can show your car insurance provider that you have high grades. Good grades means that studying is your priority, so partying and drinking alcohol would probably be not on your nightly or weekend agenda. If you can show your proof of good grades, then you will then be entitled to a good student discount.
Also, premiums also depend on your car's model. Small and not so fast cars have cheaper premiums, so if you can switch your muscle car to a compact car, you can also save up on gas money, as well. If you have not committed traffic violations for several years now, then you can also ask for a good driver discount.
Lastly, Abe, you can opt to have higher deductibles and your car insurer will have to accede to give you lower premiums. So Abe, when you get time to talk to your agent, be sure to ask about student car insurance.
Cheap Car Insurance for College Students
Reader's Question:
My son is soon going to college. Right now I think that he already is ready to have his own car. Can anyone here give me some information on how to lower costs on car insurance for college student?
Madison
Trenton, NJ
When you go shopping around for car insurance for college student, you might be surprised to see the range of the prices being offered by car insurance companies. Honestly, insuring people who belong to the younger generation is pretty expensive because they are listed by car insurance companies as high-risk drivers. This is not just a wild guess, but statistics done year by year show that young drivers, especially teenagers, get into more accidents than all the age brackets combined. So, to level the playing field, car insurance companies give high premiums. However, you must not lose hope because there are useful ways with which you can lower your son's car insurance premium. And here are two of them.
First, since he is a student, you might as well avail of good student discounts. The only thing is, like the name suggests, your son needs to be a good student in order to avail of this particular discount. The logic behind this is that car insurance companies find it easier to insure responsible students for a cheaper price. The general idea is if your son can be responsible in school, he can also be responsible on the road.
Next, you can have your son enroll himself in driving courses. Now the idea here is to familiarize your son with the culture on the road, as well as the rules and conduct. It also lessens the risk of him getting into an accident because the main purpose of these driving courses is to enhance your son's driving skills.
I am pretty sure that there are other ways you can follow in order to lower your son's car insurance premium. Just ask around, and you will find answers.
Student Auto Insurance Rate Quotes
Reader's Question:
Are quotes for student auto insurance normally high? I've started gathering insurance quotes for my son, and they all turned out expensive.
Marilyn
Wichita, KS
Student auto insurance is typically expensive because students or young drivers are considered as the most risky. Statistics show that young drivers register the highest number of accidents each year in the whole country. These accidents include both fatal and non-fatal incidents. And to be particular, it is the young male drivers who are the ones that get involved in the most number of road accidents. Studies have been made about the behavior of young male drivers, and researchers say that these drivers not only like to drive more, but they also like the feeling of being in the dangerous side. Auto insurance companies consider all this--that's why they give higher rates to young drivers. The probability of accidents happening frequently is something that greatly affects an insurance rate computation. If there is a big chance that the driver will get into an accident frequently, then the auto insurance company would give him a higher rate to compensate for all the possible payouts that will happen in the future. However, if the driver has less chances of getting into an accident, then there will be fewer chances for the insurance company to make future payouts; hence a lower auto insurance rate will be given.