If you're getting ready to head off to college, it's possible that your mounting expenses are beginning to become alarming. From tuition and textbooks to moving and housing expenses, college is a brand-new world of bills to pay. Car insurance is one more thing that you're going to have to figure out how to afford. Here are a few tips that can help you keep that expense as low as possible.
Stay on Your Parents' Insurance
Without question, the most affordable car insurance is car insurance that your parents pay for. But even if you're not interested in a free ride from Mom and Dad, it's cheaper for you to remain on their insurance policy and just pay them for your portion of the insurance, rather than getting your own new policy.
That's because insuring a young adult is far more expensive than insuring an older adult. The statistics show that young adults are at far greater risk of getting into a car accident than other age groups – motor vehicle accidents are the leading cause of death for 16-20 year olds. However, if you stay on the insurance policy that your parents use, you'll at least be able to take advantage of the discounted rate for having multiple cars on one policy. The rates may be further discounted if your parents have other types of insurance, like home insurance, with the same company.
Leave Your Car at Home
Some universities have rules about who can or cannot park a car on campus – first- and sometimes second-year students living in the dorms may not be permitted to bring a vehicle. And college towns often have better public transportation systems due to the high demand for them – depending on where you're going to school, having a car may not even be a necessity.
If that's the case, you can save some money by calling the insurance company and letting them know that you'll be leaving your car at home while you attend college. Many insurance companies will give you a discount since you'll be using your car only on a limited basis. You'll still be insured and able to drive when you come home for summers and holidays, but you won't have to pay as much throughout the year.
Get Good Grades
Did you get an honor roll discount or good student discount in high school? Many people don't realize this, but most insurance companies offering good student discounts generally offer them to students who are under age 25, so college students can save money this way as well.
If you're a full-time student maintaining a B average or making the Dean's list, you may qualify for the good student discount. A copy of your transcript should be proof enough of your grades, but ask your insurance company about their specific requirements.
Paying bills isn't usually the most enjoyable part about becoming an independent adult, but finding ways to save money on your bills can be very satisfying. Finding ways to save on your auto insurance is good practice for finding ways to save on other bills later.
For more information about keeping your insurance costs low, contact a company like Kirby Soar Insurance.