College Student and Teen Driver Insurance

DENVER, CO, August 1, 2007 – The end of the summer means it's back to school time. Time for spending money on books, supplies, clothes, and tuition. That's why NetQuote, the leading online marketplace for insurance, is releasing money saving tips for parents to use when buying auto insurance, renters insurance, or life insurance for your teenager or college aged child heading off to get their degree.

Ways to Save on Auto Insurance for Your Teen Driver

The National Highway Traffic Safety Administration states that teen drivers have the highest crash risk of any age group. This drives up the rate for your teenager's or college student's auto insurance coverage.

While cheap car insurance doesn't typically apply to teen driver's auto insurance policy, there are ways to save money:

1. Safe Driving Courses. First, we highly recommend a graduated licensing program and advanced driver education courses for teens, which can drive down your auto insurance premium costs.
2. Get Good Grades. Some companies offer discounts on auto insurance for teenagers who have at least a B average or a 3.0 grade point average in school.
3. Buy a Safe Car. Insurance companies typically charge lower rates for cars that are equipped with more modern safety features such as air bags and anti–theft devices. Check the U.S. Department of Transportation or the Insurance Institute for Highway Safety websites for a list of vehicles they recommend.
4. Multi–Car Discount. If you're adding a new car to your family's current auto insurance policy, you could qualify for a multi–car discount.
5. Away at School Discount. If your college bound child attends school at least 100 miles from home and leaves his or her car behind, your insurance company may offer an “away at school” discount. This would apply only during the period your child is away at school.
6. Location. If your college student takes their car with them to school, you'll need to notify your agent. Your rate could go up or down, depending on where your child will live, or they may need to obtain a separate policy with a local agent in their college town.
7. Ways to Avoid Theft. Car theft rates are high at colleges, but you can help your child from becoming a statistic and having to file a claim, which will raise your insurance rate. Warn your college student to not only lock their cars, but avoid leaving any valuables such as iPods, computers or backpacks in plain view.

Renters' Insurance for Your College Student

College students can spend a lot of money decorating their dorm room, apartment or home when they're away at school. When you add up the cost to replace everything your college student owns—the computer, electronics, CDs, art, clothes and furniture—the $15 to $30 a month to protect their property is worth it. Renter's insurance not only covers their property, policies typically include liability coverage, so if someone were to slip and fall on ice going up the stairs to your child's home or apartment, they're covered.

Life Insurance for College Students

Although you may never want to comprehend your child getting a life threatening illness or experiencing the unlikely event of their death, more parents are looking into life insurance for their children before they leave for college. In 2004 an estimated 41% of people ages 18 to 24 years old had coverage.

Because of their younger age, policies are very affordable. And when they turn 21, you can turn the coverage you purchased for them into their own policy, giving them a good start on their own future.

Have a first time driver in your family? Looking to protect your child's property while at college? It's easy to shop online and receiving quotes from multiple companies for auto insurance, renters insurance, and life insurance at NetQuote.

About NetQuote, Inc.

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