Are your Ohio students college-bound? You might want to add them to your family car insurance coverage
When your son or daughter goes off to college, the last thing you want to worry about is auto insurance. If you live in Ohio, you can gain peace of mind and stay legal by adding your college student to your Ohio family car insurance coverage.
Several factors influence how much you will pay to insure Ohio college student drivers:
Location – does your child attend an Ohio school but live out of state? All Ohio drivers must carry at least $7,500 in property damage liability coverage and at least $12,500 per person/$25,000 per accident in bodily injury liability coverage. If these limits are higher in Ohio than in your home state, you may pay more in insurance premiums. Similarly, if your child lives in Ohio but attends school in another state, you will need to comply with the financial responsibility laws of that state. Be sure to explore these requirements thoroughly as some states treat students as “residents” while others don’t. This can determine what level of coverage is necessary for your college student driver.
Setting – does your student driver live in the country but take classes in the city? Where the car is parked and how far the student drives can dictate how high the insurance rates go. Urban drivers typically pay more than rural drivers.
Age – older college students generally pay lower insurance rates than 16-year-olds. Keep in mind, however, that insurers only let a student stay on your policy until he or she reaches a certain age, typically between 23 and 26.
Vehicle type – the make, model, age and safety features of an automobile determine how much insurance coverage costs. In general, an older, family-oriented sedan costs less to insure than a new sport coupe.
Vehicle usage – if your student is attending school more than 100 miles away from home and will not be taking a car, you may be able to apply for a distant-student discount. You can reduce coverage but remain protected when he or she comes home and drives during breaks.
Policy owner – in most cases, you will pay less by adding your son or daughter to your existing family policy than you would by asking for a separate policy (although Geico has a policy option that will extend your rate levels for children striking out on their own and acquiring their own coverage.)
Credit rating – if you and your child have good credit, you will pay less than an equivalent family with poor credit.
In most cases, when you add Ohio car insurance for college students, your annual premiums go up. To offset the rate increase, you and your child can investigate common discounts:
- Good student discount – statistically, better students are also better drivers. Full-time college students with B averages or better pay less for auto insurance than their peers.
- Association discount – simply being a member of certain groups can save you up to 15 percent on car insurance.
- Defensive driving discount – college students who pass a qualified driver education program can save on annual premium rates.
The only sure way to know how much coverage your Ohio college student driver will need and how much it will cost is if you get competitive quotes. Having the advice and support of an experienced car insurance professional will help and Reply! can connect you with top insurers who can answer your questions and customize your policy.