Your teen is going to college this fall. When they are at school, probably the last thing you want to do is pay for their unused auto insurance. Should you remove your child from your auto insurance policy when they go off to college? That’s a question we get a lot from Johnson City parents. Generally, the answer no. You should keep your child on your auto policy if they are still under your care. Here are a few reasons we recommend this.
Driving on Break
Leaving your child on your policy means they will be able to drive during the semester and on breaks. If you remove your child, they won’t be able to drive when they’re back for the weekend or Christmas break. Additionally, they won’t be able to drive at all at school. If you leave them on your policy, that would cover them driving a friend’s vehicle at school, even if that vehicle is not adequately insured.
Continuous Coverage
Removing your child from your auto insurance policy while they are at college could create problems for them later on when they purchase their own policy. Removing them from your policy creates a gap in their coverage for a time. Even if your child has a spotless record, the insurance company may view them as a new driver if they have not had coverage for a few years. This would increase their auto insurance rates.
Cost Efficiency
Even though it may seem like you can save a few bucks by removing your son or daughter from your policy, the most cost-effective option is to leave them on your policy. If you removed your child, they would have two options. Either they would not be able to drive, or they would need to purchase their own auto insurance policy. However, auto insurance policies for young drivers are very expensive because young drivers have more claims than older drivers. Opening up an independent policy would mean they are paying much more than they would if you kept them on your policy. Keeping your teen driver on your auto policy and having them pay you back for their rates is the most cost-efficient option.
Teen Driver Discounts
In addition to taking advantage of auto insurance discounts you already enjoy, a young driver on your policy has several additional discount options. Eligible drivers may qualify for a ten percent or more good student discount. Safe driver and driver education discounts also exist. If you work with an independent insurance agency like Veritas, your agent can help you find available discounts and the best rates for your away-at-college son or daughter.
The Coverage You Need
If you have further questions about teen or young driver auto insurance, give our office a call at (423) 292-4142. Being an independent agency, we work with a variety of different insurance providers to help you find the policy with the best value for your dollar.
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