Auto Insurance on Campus

January may not signal “back to school” across the country, but for college students everywhere it means leaving the comfort of home and returning to the dorms once more. If your son or daughter got a car for Christmas – whether they bought it themselves or received it as a gift – it’s essential that they don’t leave home without auto insurance.

But what’s the cheapest way to insure a college kid’s car?

There are several options:

– You can cover your college student as a dependent on your own policy. This will be more expensive for you, but cheaper for them. However, college students can earn discounts for good grades just like younger teens, and you can all take defensive driving classes together to earn those discounts, as well.

– Your college driver can get their own policy, as long as they’re over eighteen. This may not be cheap for them, but it means you aren’t responsible, and it helps begin their insurance history under their own names.

- Your student can leave the car at home. There are special clauses that minimize the expense of car insurance for students who leave their cars at home when they return to a campus more than 100 miles away. They’ll still be able to safely, legally drive when they’re home, of course, but during the school year, insurance will be less money.

The worst thing you can do is allow your college-aged son or daughter to be uninsured. Yes, it’s a 505 – 100% increase in cost to have them on your policy, but the alternative is paying for medical expenses, damages, or replacement value of a car.

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