Tis the season for graduations! As we speak, many high schoolers are preparing for the big day and the parties that follow. They are also getting ready for the next step – packing and planning for their first year at college. Amidst the whirlwind of events leading up to the drop off – don’t forget to think about car insurance! Whether they are taking a car with them or will be using one of your vehicles while home for visits, you’ll want to be prepared. Here are a few car insurance tips for parents of college students that you might want to consider before the big send off.
Location Change
If your college student is moving away for school, you should notify your Massachusetts auto insurance company. If your child is taking a car to school, this will change the ‘garage location.’ Such a change could affect your insurance rates, either up or down depending on how that location compares statistically to your current one. If the car is remaining at home, you may qualify for a “student away” discount since your child will be driving only occasionally.
Speaking of your policy…
Continued Coverage
Even if your child doesn’t have a car at school, this does not mean that he/she will never drive. Keep your children listed on your policy so they are covered when they come home to drive. This will also ensure coverage if they drive a friend’s car or are a passenger in another vehicle (especially if that driver doesn’t have coverage). Not only will your rates will remain lower if you keep them on your policy, but your child will benefit from having continuous coverage. This could result in lower rates when they eventually graduate to their own policy.
Available Discounts
Don’t forget about good student discounts! These don’t necessarily end upon graduation from high school. If your child continues to earn the grades required by your insurance company, you may be eligible to receive a discounted rate through their college years. It never hurts to ask – so make sure you tell your provider about their continued achievements.
Summary of Car Insurance Tips for Parents of College Students
Sending your child off to college is a rite of passage for parents. It can be both an exciting and anxiety-ridden time. As they take this step toward independence, you want to ensure that they will be safe and protected. There are many factors that are out of your control, but you can gain some peace of mind (and save a little money in the process) by following these car insurance tips for parents of college students. If you have any questions, please contact your Independent Insurance Agent for more information.
