Now that your 17 or 18 year old is away at college: what now?
If your college student took their car with them to college, you could be saving a lot of money on your car insurance. College students are susceptible to a number of discounts ranging from low mileage discounts to good student discounts.
If your college student has a permanent address in say, Tallahassee because they’re attending school at Florida State University or FAMU, or even Jacksonville due to their attendance at University of North Florida, and their car is in their name, they can re-shop their car insurance rates in that new territory.
The area you live in is one of the determining factors of the cost of insurance. Since South Florida has one of the highest territory rates in the state, your child’s move out of the area could drastically decrease the amount of money you pay for their car insurance.
In addition to saving money living in a different territory, college students typically drive less than the average member of the workforce. With that being said, many companies offer discounts for “leisure drivers,” or those driving on average of 6,000 miles per year or less. Determine whether your college student walks to class, and if so, they could be susceptible to those discounts because their vehicle rarely leaves it’s parking space.
Good student discounts can save your college driver on average of 5-10% on the cost of their insurance depending on the insurance company. As long as the college student has a “B” average or higher, they should experience a great discount at renewal for submitting copies of their transcripts to your insurance company.
College is a great time for your child to experience decreased costs in auto insurance. If you’re interested in learning more ways to save money on your college student’s car insurance, give North Broward Insurance Solutions a call today at (954)368-0060 for a free quote or complimentary insurance review.
Contributed by Alexandra Horblitt for North Broward Insurance Solutions