As the proud parent of a new college student, you have done everything to ensure that your child’s transition into college life is an easy one. This includes having helped him or her obtain their own mode of transportation. Now that you have made sure that they will be able to get around with ease, there remains the matter of car insurance. It is a known fact that when insuring a car for a younger driver, the premium rates can be significantly higher. With them being a younger driver, what can be done to keep the price of your college student’s car insurance policy down?
On average, the youngest that an individual is able to obtain a competitively priced policy is at the age of 25. So what are the best options available to students of a younger age? Well, there are a few, which include:
Steadily Achieving Good Grades
Many students are unaware of the fact that a continuous show of hard work within an academic institution can actually have a bearing on how much they will be charged for their auto insurance policy. Some insurance institutions see a serious student as less of a liability. They are seen as individuals who would take care on the road and ultimately not pose too much of a risk. With this being the case, they do not have to be insured for as much and their policy rates need not be as high. This is not standard practice throughout all insurance companies, however, but there are a notable number that do, so keep this in mind.
Allowing Your Child to Be Added To Your Policy
It is simply cheaper to have two vehicles on one policy, rather than having two vehicles on two separate policies. If you were to add your child and their vehicle to your policy, significant savings can be made.
As your child is studying throughout the semester, they may have their vehicle parked on college grounds for large periods of time. They may actually only use the vehicle for driving home when there is a school break or when it is vital to take an off-campus trip. If this is the case, pay-as-you-go insurance may be an option worth looking into. This type of policy calls for the policy owner to pay per mileage. In other words, they only pay for the time the vehicle is actually in use on the road.
Younger drivers are those who have to pay the highest rates for auto insurance policies. Due to inexperience on the road, the types of cars that they like to drive, the types of areas that they like to venture into and the expensive modifications often made to the vehicles they drive, insurance companies see them as higher risks. However, this does not mean that it is impossible for your student to obtain a good rate on their policy. Work with them and look into the different ways that they could save.
We are also on hand to offer advice and guide you in the best way that we can. Give us a call at 813-933-6691, and let’s see how we can help you save some money on Tampa auto insurance.