If you are off to college this fall you are likely looking for ways to cut expenses so you have more green in your pocket. When it comes to car insurance, saving money may seem like a challenge since teens and young college students are often paying higher rates. Fortunately, there are ways that you can save cash, and the following tips can help.
Tip #1: Stay on your parents' policy
Although you may be heading out on your own, there's no need to go solo on car insurance just yet. Staying on your parent's policy allows you to take advantage of some of their discounts, like multi-car policies or home owner discounts. As long as you still use your parent's address as your permanent address, which many college students do, then you should be able to remain on their policy.
Tip #2: Consider a pay-go policy
If you must buy your own policy, consider getting a pay-go policy. These policies charge a relatively low base fee for your legal insurance requirements, and then you pay a small per mile rate. This can be an especially helpful option if you live on or near campus and primarily only use your car for weekend adventures or visits home. Since you won't be driving a lot of miles, you shouldn't have a high monthly insurance bill. If you go to school out of state, this may also work well if you need to maintain a policy on a car you only drive on summer break and occasional weekend visits home.
Tip #3: Getting the right parking permit
When purchasing the parking permit for your campus housing, look at the costs of different options. Some schools offer parking in garages or secured lots for a higher price. Then, ask your insurance if there are any discounts offered for parking in a garage. If the savings on insurance are for more than the premium parking permit, then consider splurging on the permit.
Tip #4: Keep those grades up
Good student discounts aren't just for high schoolers. You can continue to take advantage of this discount by maintaining your A or B average through college. This is because good grades help show responsibility, so your insurance company assumes you are also likely more responsible behind the wheel. You will likely need to send in a copy of your transcripts each semester to maintain the discount.
Contact an auto insurance agent in your area for more tips on saving on your insurance while you are in college. You can also visit websites like http://www.laprescali.com.