You can add your college student child in another state to your car insurance policy, but you will likely do so at a premium. Every parent knows that allowing his or her child to leave the state with an automobile is a decision that carries a certain element of risk. However, careful planning and a thorough review of your car insurance policy and options will help you resolve the situation in the safest and most cost effective manner possible. Read on to learn what you should do in this scenario and then be sure to enter your zip code above for free car insurance quotes!
Car Insurance Requirements for Your College Student Child in Another State
One thing you will need to determine is the minimum insurance levels required in the state where your child attends college. If you carry just enough car insurance to meet your own state’s requirements, you may find that those levels are actually insufficient in your child’s new environs. Since each state has different car insurance liability minimums, you will want to work with your car insurance company to make sure you and your child are protected.
The Costs of Insuring your College Student When Driving in Another State
Your original car insurance policy was created by evaluating a host of variables including your gender and age (as well as the gender and ages of those in your household), location, your driving record (and, again, the records of the other people in your household), make/model of your car(s), and more. Adding another state to the mix will change the variables as your car insurance company assesses the altered level of risk you present to them.
There are several things you can do to tip the balance in your favor. First of all, make the car insurance company aware of any academic honors held by your child that may qualify him or her for discounts. For example, a GPA of 3.0 or higher will knock a few bucks off your policy at many insurance companies. Also, make sure your child drives a practical car that costs less to insure. Practical cars are usually cheaper to repair and come with better safety records, two factors which contribute to a lower level of risk and, thus, lower car insurance premiums. You will also want to pay attention to any safety devices in your college student’s car that may qualify for additional discounts. Mechanisms such as anti-lock brakes, anti-theft devices, vehicle locating systems, and window etchings can save you money each year on premiums.
The Risks of Not Insuring Your College Student
While adding your out-of-state college student to your insurance is likely to cost you more money than you would otherwise be spending on insurance, it would cost your child a whole lot more if he were to purchase his own policy on a car bought in his own name. The level of risk for a single young adult who is new to the driving world is high. However, when you are able to leverage your child’s risk level against your own established record, the cost is much lower. You will likely have to be either the owner or co-owner (with your child) of the vehicle he or she will be driving at school in order to add him or her to your policy.
When you are the owner of the car your child will be taking to school, the truth of the matter is that failure to alert your car insurance company could be a financially disastrous decision. If you do not list your child on your policy and she is found liable for an accident while driving that car, she may not be covered by the policy. Suddenly, you are personally and financially responsible for what could be very significant damages. Adding your college student to your car insurance policy is another significant (but often thankless) demonstration of parental devotion.
Compare Quotes Online to Find the Best Policy For You and Your College Student
Even if you weren’t looking for a new car insurance company when you first asked the question about adding your college student child in another state to your policy, the fact remains that getting new car insurance quotes every six months is a financially prudent thing to do. A lot can change in half a year, from your own circumstances to those of the insurers. Comparing car insurance rates with a convenient on-line car insurance quote tool makes the process quick and easy. Compare quotes today…before your college student heads out on their next great adventure!
