Car insurance rates for college students vary among states in the U.S., but the national average costs around $5,400 for an 18-year-old male student.
Hawaii has the lowest average at $900 per year, while Michigan has the most expensive at around $11,300. If you live in Illinois, vehicle insurance in Cicero could be cheaper than the state average of almost $6,300 depending on certain factors. These include the type of car, the driver’s age, local crime rate and household income. Despite being expensive, there are some ways to reduce the premiums especially when parents plan to include their child into their own policies.
Money-Savers For Car Insurance
If your parents are willing to include you in their coverage, the cost is usually cheaper than buying a separate policy. It also makes it easier for young drivers will have access to a better rating, aside from being eligible for certain discounts. These discounts could be in the form of lower premiums when you have good grades.
Some insurance providers may provide up to 25% off the annual premiums for single and full-time students who are up to 25 years old. You may need to submit your child’s report card regularly, although there are insurers that don’t require this. Take note that adding your son or daughter will mean that you will be liable for accidents and property damages.
You should also update the insurer for any new information, particularly when the child drives more than 100 miles to school, switch to a new college or university among other factors. The school’s location will affect the adjusted rates. If it’s in a safe community, expect to pay a lower amount.
Is It Possible Not To Add Them?
Parents can choose not to add their kids in their policies if they are driving the family car, but this can be quite complicated. Read the terms and conditions in your policy to find out more, and ask a personal injury lawyer in your state who is familiar with insurance laws.
But when you buy a car and name it after your college student, then that’s the time to include them in your own policy. In other words, you could still not add your child to your policy if your name is in the car title. In Illinois, it’s possible for parents to be the primary drivers of more than one car. Just remember that the state has curfew hours for young drivers.
Those who are below 18 years old must not be driving a car between 10 p.m. and 6 a.m. from Sundays to Thursdays, and between 11 p.m. to 6 a.m. during Fridays and Saturdays. Remember that drivers without insurance in Illinois could pay up $1,000 in fines and have their licenses suspended for three months.
Don’t fall for agents who immediately suggest adding children into your policy. Most of the time, these people only want to close the deal for commission. Consult at least three different insurance providers before making any decision.