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College students-car insurance FYI


Susann
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For all those with kiddos off at college, you might want to check with your carrier regarding rates. With dd at college, our rates dropped $650.00 a year. The stipulations were that dd was at least 100 miles from home (she's 102.38:D) and only come home an average of once a month. She's still covered whenever she's home for weekends, breaks, summer. Makes for a nice surprise to the budget!

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Yes, we learned this last year. As soon as our dc get moved into school, I have their auto insurance status changed. Since they are more than 100 miles away and have no access to our cars, they don't need to pay anything. We only have to reinstate them if they are home for 30 days or more, which just means during the summer. It sure saves money!

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Yes, our rates went up considerably when dd changed her mind and decided to commute to a local university hospital for her paramedic school instead of starting out (155 miles away) in nursing school. The rates went down when we changed the policy to reflect that she would be away at school and without car (that college did not allow freshman to have cars on campus) but then SHOT up when we altered it to reflect that she would be a commuting student putting a bit of mileage on the car each week. UGH!!!! It when up $120.00 per month.

 

Faith

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Our insurance bases it's insurance on the city the car is used in. When Dd was going away to college and we called to get an estimate,they told us the rate was based on where the car's address is, we told them the city that Dd would be attending college (which was about 120 miles away) the price they quoted shocked us. After asking why the difference they said it was because the city that the car was being used in has a high accident and theft rate. So we have the car listed as addressed here and Dd is only a secondary driver. That way it covers us while she's in college but isn't so expensive.

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Be sure to double check your policy. Our dd is covered when she's home for weekends, holidays and summer break. We don't have to add/take her off for any of these times.

 

This is how our policy works. When our dc are home and driving, they are covered as long as they are not home for longer than 30 days. That is when we have to reinstate them and pay. So when they are home for Christmas break, spring break, etc. they can drive and are covered. During summer, they are home for longer than 30 days, so we have to pay for those couple months.

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Another thing to check out...learned the hard way this week. We have Auto Club membership, but just the basic, which allows a 7 mi. tow. The Premier allows a 200 mi. tow once/year, and college dd is going to need it since her commute is 40 mi to college. We found out it takes a week for the upgrade to show...unfortunately we found that out the day she broke down, 40 mi. from home. So, do it now!!

 

The reason for this is to prevent upgrading when there is a problem, I'm sure.

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