7 Tips For Lowering Car Insurance Rates for the College-Bound

We understand that when you or a family member is College-bound every penny counts and this leads many to investigate ways of lowering car insurance rates. So, to aid you in your research here are 7 tips for lowering insurance costs for the College-bound.

Car Insurance for the College Bound

Tip #1 – Driving without car insurance is not an option.

An uninsured college bound driver, that would get involved even in a simple fender bender could affect their record for years after college. It is also important to keep in mind that driving without the minimum insurance that is required by state law could get their license revoked or land them in prison.

Tip #2 – Keep College Bound Family Members on Their Parents Insurance Policy.

Although, many think of college as a time to spread their wings and enjoy independence from their parents, it is not the time to incur the added expense of an independent car insurance policy. Parents with college bound teenagers understand that it is less of an expense to have two cars covered under the same family policy that it is to maintain two separate policies. Since most drivers do not usually start to qualify for better insurance rates until they turn 25 years of age, if it is an option to keep the college student on their parents policy it is a great way to help save them money.

According to AAA, “Students (particularly teens) rank among the most dangerous drivers on the road. The only other age group that even comes close is the 85-and-older category.”

Tip #3 – Keeping good grades can help lower insurance costs.

Most insurance companies generally look at College Students that keep good grades as being more responsible and therefore less of an insurance risk. Therefore, keeping a high grade point average will contribute to lowering Car Insurance rates. Please, contact your Erb and Young insurance agent to get an accurate quote for all the drivers in your family.

Tip #4 – Location Matters

Insurance rates are generally higher in larger metropolitan areas. Therefore, College students going to schools located in smaller towns or the suburbs most likely will also have lower insurance rates than their friends that opt to go to a College located in a big City. You can also get mileage discounts if your College bound family member lives within three miles of their College Campus and will contribute to lowering Car Insurance rates.

Tip #5 – The Vehicle Matters

Sports cars with a fiberglass body are generally more susceptible to damage in an accident and thus results in higher premiums. Most larger cars are more commonly made of steel, which is usually easier to fix than fiberglass and thus results in lower premiums. Investing in that newer model with more safety features may also make a difference in your insurance rates. Features such as side airbags, an electronic stability system, and an alarm system may contribute to lowering your costs. Also, newer model car usually will have less wear and will therefore require less maintenance. So, having a newer car will contribute to lowering Car Insurance rates.

Tip #6 – Drive to Stay Alive

Everyone benefits by obeying traffic laws and being diligent in not exceeding the posted speed limits. This will not just get us to our destinations more safely, but it is important to keep in mind that a speeding ticket on your driving record can make your insurance rates skyrocket. Especially, for those under the age of 25. So, make it a habit to “drive to arrive alive” and you will reap many benefits, which include contributing to lowering Car Insurance rates.

Tip #7 – Contact an Erb and Young Insurance Agent for a FREE quote

Your Erb and Young Insurance Agent would be happy to provide you with more detailed information on meeting the the car insurance needs of your whole family, including those that are College bound. As independent insurance agents that work with multiple insurance companies, Erb and Young Insurance specializes in making cost-effective options available to you based on your specific circumstances, including your assets, risk tolerance and your budget. If you aren’t sure what type of things you should consider, get help today by working with an experienced Erb and Young insurance agent.

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