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What College Students Need to Know about Car Insurance

13 Jul by 5280 Insurance

Lots of college students need cars to get to school, especially if they live a bit far from campus. But with student loans and demanding classwork that can get in the way of finding a job, college students are often tight on money. And that can lead many of them to forgo getting car insurance as they simply could not afford it. While this may seem like a reasonable move at the time, it’s not always the best option for you.

Is Car Insurance Really Necessary?

If you live on campus or in a dorm and drive a car only when you go on weekend trips, it may not be necessary for you to purchase full car insurance. It becomes a different story if you live off-campus and drive every day. Drivers who do not have insurance coverage may get fined up to $1,000 for driving without it. In case of accidents, victims can sue for serious injuries through negligence. 

So, it is better to get car insurance. But it depends on the situation, and you will be in a much better position to decide once you know your car insurance options.

Can College Students Stay on Their Parent’s Policy?

Most states allow college students to stay on their parent’s car insurance. You can renew your parent’s car insurance policy through the student branch of their insurance company. In case of accidents, you will be covered.

When this option may not be available:

  • If you are an older college student (21+) who wants to get your own car insurance policy. In this case, you must also get your own health insurance policy. 
  • If you have minor violations on your car insurance records
  • If you are a high-risk driver
  • If you are a student who lives away from home, you may not be eligible to stay on your parent’s insurance policy.

When You Need a Separate Car Insurance Policy

If you have an apartment or your own vehicle, or you want to get car insurance without being tied to your parents, you will have to get another insurance policy. And your options will depend on your specific situation.

Undergraduates can get the following insurance policies:

  • A Graduated Driver’s License (GDL) policy for drivers under 18 years old.
  • A teenage car insurance policy.
  • A full coverage insurance policy that covers all kinds of damages.

Graduates can get the following insurance policies:

  • An individual car insurance policy.
  • A graduate student insurance policy.
  • A full-coverage insurance policy.

Can College Students Get Cheap Car Insurance?

College students can get cheap car insurance. There are a few things you can do to keep your premiums low. Most young drivers are eligible for a 25 percent discount on their car insurance. But you will have to meet certain requirements, such as the following:

  • Getting additional driver education courses
  • Having a good student driving record
  • Getting good grades
  • Having a good driving record
  • Having a high level of liability coverage for your car

If you meet all of the above requirements, a 25 percent discount may be applied to your car insurance.

College students who are also part-time workers can get a 20 percent discount as well.

Final Thoughts 

Finding a good car insurance policy is not easy. It’s not just about getting a low price but also about getting the right coverage, getting a license and knowing where you can find help in case of accidents. Now that you know the options available to you, you can find car insurance accordingly.

Get the coverage you need from 5280 Insurance. We are an insurance company that provides cheap car insurance in Colorado. We dedicate ourselves to providing you and your family with protection that you can rely on while saving time and money. Get in touch with us today!

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