Having the ability to drive a car is becoming a basic need for a college student. With the ability and the car, it will be more convenient to go anywhere at any time. College projects can be so frustrating and need anything to be fast. Here is a list of car insurance companies for college students.
What is Car Insurance?
Before deciding to choose car insurance companies for college students, you should understand car insurance. Basically, car insurance is a contract, represented by a policy, between the policyholder and the company to protect some assets and get reimbursement from the company.
Insurance policy prevents the policyholder from financial loss from an unexpected accident injury or property damage. Insurance also helps the policyholder with the liability for damage that is caused by a third party.
Car insurance is an individual policy that people can easily take to cover their car for damage. It is a policy that protects you from financial aid to repair your car in the future. Many insurance companies offer a few coverages at various costs, so you can choose the best one for your needs.
Do You Need Car Insurance Companies for College Students?
In their hustling life as a student, having a car is both convenient and risky. It will give easy access to mobilize, and at the same time, the risk is hunting because of the tasks that hunt them.
There are a few considerations in determining if college students should have car insurance while they are in school, such as: Do you take your car to school? Are you staying with your parents or going away? If you are going away, do you have access to drive a car?
The insurance agent will help your parents to decide on the coverage and the policy. Those considerations will determine the policy that you will have and in some cases, you can reduce the rate by filing the college situation.
Discount for Your Car Insurance Policy for College Students
Some car insurance companies offer a good deal if you are in college and looking for car insurance. If you are eligible, you can get a reduced rate for your car insurance policy. Here are a few programs you can apply to reduce your car insurance rate for college students.
1. Resident Student Discount
If you drive a vehicle under your parents or guardian and your college is at least 100 miles away from home, you are eligible to get a Resident Student Discount. This discount applies because you will not drive the car frequently since you will be away for college.
2. Good Grade Discounts from Car Insurance Companies for College Students
Good grade discounts don’t stop when you graduate from high school. You can ask your company insurance to get this reduced rate. Some companies still accept this reduced rate condition for college for unmarried, full-time students up to age 25.
3. Multiple Policy Discount
If you are a college student living in a rented apartment and have your own auto insurance, you are eligible for this reduced rate. Fortunately, many insurance companies offer bundling insurance for the policy. You can take the bundling with the car insurance and the renter’s insurance policy to reduce your insurance rate.
4. Anti-Theft Device Discount
If you are a freshman in college and living away from your parents, it is pivotal to check your surroundings. However, for prevention, you can install some protection on your car such as a car alarm.
Installing the anti-theft device in your car will reduce the policy rate on your car insurance. You can ask your car insurance company whether you are eligible for reducing the rate.
Car Insurance Companies for College Students
It is time to choose the best car insurance companies for college students to save your expenses. Then, without further ado, here is the company compilation you must know.
If you are looking for the cheapest car insurance companies for college students, this company is the answer. USAA offers the cheapest rate for your car insurance policy.
The cost you need to pay is only $785 a year. However, they have a strict condition that you should be a military member, veteran, or military family member to be eligible for the rate. They also only offer 3% off for a good student.
Geico has good rates for adding college students as a driver. Your parents can save more if you have a good grade because they offer a good grade discount. Geico is the second cheapest car insurance company without having relations with veteran members or the military.
It only costs $1,061 a year and it provides a reduced rate for good-grade students with an average of 5% and students away from home with an average of 20%. However, this company has a lower rate of customer complaints with grade C.
3. American Family
American Family can be your best option in choosing the best car insurance companies for college students. They have a low level of customer complaints and offer the best rate for adding college students as drivers in the policy.
They only charge $1,159 a year. Also, they offer to reduce the rate for students by an average of 5% and students away from home by an average of 16%.
The rate they give is based on how many miles you drive. For those of you who drive less, this company will give you the best rates. Unfortunately, this car insurance company is only available in eight states.
This company states that if you drive less than 12,000 miles a year, you can get extra savings for the insurance. Furthermore, they won’t charge you if you drive more than 250 miles a day.
5. State Farm
State Farm should be in your consideration in choosing the best car insurance companies for college students. They offer competitive rates for additional college student drivers and reduce the rate if you are qualified.
This company charges you $1,399. You can get a lower rate as a good student with an average of 7% and students away from home with an average of 16%. They also get low rates of customer complaints which make them a trustable company for customers with a college student.
Decide The Best Car Insurance Companies for College Students, and Save More!
After knowing some companies that offer good rates for college students with lower rates, you can decide which company suits your financial situation and your eligibility for reducing the rate. Then, choose one of the best car insurance companies for college students and get all the benefits!