Will going to college, and reducing driving affect my insurance premium?

Question

Since 9 months out of the year I wont be driving soon, since I am not taking a car away to school, should my rates go down as the risk is lowered without driving as well?

Answer 1

Should they be? Yes, there should be some pro-rated customer beneficial system in place with most respected insurance providers.

Is there one? NO. You pay them for supplying what you need for your priveledge to drive. Whether or not you use it 24-7, or 2 minutes out of the year - they don't care.

You could cancel the insurance for the 9 month period, but that is probably more problematic than you'd think. Most insurance providers will charge you a huge re-instatement fee if you've lapse on insurance. Also, your state government might be one of those that takes your plates if you don't insurance on the auto.

Answer 2

Talk to your insurance company and ask them what options they may have for you. You may be able to reduce your premium by lowering your coverages and still maintain insurance. Some companies will offer the option to carry just comprehensive coverage while the car is not being driven. Although you would want to check with the dmv to see if that is ok in your state and also with the bank if you have a car loan. Also ask your insurance company if they offer any discounts based on mileage, or any student discounts.

Answer 3

Well, is the car staying REGISTERED? Who's going to be driving it? If it was classified as pleasure use before, and it's still going to be pleasure use, it's not going to affect your premium.

If you're not driving 9 months out of the year, consider turning in the plates, and cancelling the policy while the car isn't being used.

Answer 4

Yes. Many insurance companies give big discounts if the car is home while the student is away. Call yours and ask.