With the high cost of car insurance premiums, everyone is looking for ways to lower their rates. College student drivers are typically in the age bracket that has the highest insurance premiums. They are also very frequently among those who have the lowest income. This combination often makes it extremely difficult to afford car insurance premiums.
There are a few things that can be done to lower the car insurance premiums for college student drivers and make it more affordable. Often, parents keep their college students on their own car insurance plans throughout their years as students. This can be advantageous for a couple reasons. Established relationships between the policy holder and the insurer often increase discounts provided. Long time customers of an agent will be offered discounts not available to a new client. There is also the benefit of multi-car and home and car discounts that most companies provide. College students rarely own their places of residence so would not have that discount available to them. Parents can access all these discounts which would help to lower the overall car insurance premiums for college student drivers.
Good student discounts are also available to those college students who maintain good grades. A grade report is required by the carrier each time the policy is up for renewal in order to maintain this discount. Another discount may be available to those college student drivers who are away from home without their own vehicle to drive. Most insurance carriers offer a student away discount. This allows the student to maintain coverage in case he drives a car belonging to someone else, but the premium is substantially reduced in most cases because the carrier acknowledges that the student will not be driving very frequently while at college.
If the college student is responsible for his own car insurance policy, there are still things he can do to lower the cost of the premiums. He can still obtain the good student discount, but if he has a car at his disposal, he will not be able to use the student away discount. However, there may be advantages to insuring his vehicle through the same agent as his parents. There is often a discount provided to students in this case as an extension of the parents' policy. The carrier recognizes that the student can elect to obtain coverage from any insurance provider. If the student has had a clean driving record and has been on the parents' insurance policy previously, there is often a discount given.
College student drivers can obtain discounted car insurance premiums. If they keep a clean driving record and make good grades, they can be assured lower car insurance premiums.