Tag Archives | insurance

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Money is often tight for college students, and for those who drive to school, it’s tough to decide whether a comprehensive auto insurance policy is worth the higher premiums. This is usually a situation where it’s wise to spend a bit more for greater protection. Here’s why comprehensive auto insurance is crucial for college commuters.

Faster Repairs

If you get in a car accident and it’s the other driver’s fault, their insurance must pay for your damages. When it’s an uninsured motorist, the driver must pay for your damages.

This works in theory, but in practice, it can take weeks or months before the other driver is found to be at fault. And if they don’t have insurance, you’d need to sue them and get a judgement against them. With only liability insurance on your end, you would be left waiting to get your car repaired.

Comprehensive insurance will pay for your repairs while you wait, allowing you to get your car fixed right away and keep driving to school.

Protection for At-Fault Accidents

You also need to consider what you would do if you cause an accident. If you’re a young adult in college, you’re already more likely┬áto be involved in an accident. With only liability coverage, you’d be stuck paying for repairs out of pocket.

It will cost you more in premiums to have comprehensive insurance coverage, but paying a bit more per month is much better than being out thousands of dollars because you caused an accident and only have liability insurance.

Coverage Against Irresponsible Drivers

There are plenty of situations where another driver could cause an accident but not pay for your damages. You could be involved in a hit and run where the other driver takes off. Or you could get in an accident with an uninsured motorist who doesn’t have a job, meaning even with a court judgement, you’d have a tough time getting money from them.

This is where comprehensive coverage will come in handy. No matter the circumstances surrounding your accident, you can be confident that your insurance will pay to have your car repaired.

There are plenty of situations where liability insurance won’t be sufficient. For a college commuter who needs their car to get to school every day, comprehensive insurance coverage is a smart investment that will keep you prepared for any potential worst-case scenarios.

This article was contributed by guest author Eileen O’Shanassy.

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If you had a car in high school, there is a good chance you were on your parent’s insurance policy. However, if you are moving away to college or moving out after graduation, you may need to find your own insurance policy. Here are key points to keep in mind when determining whether or not you need car insurance after leaving your parents’ house.

Will You Be Driving Your Own Car?

There is no need to have insurance on your vehicle if you aren’t planning on driving it. This may be the case if you live on campus or move to a city that has a good public transportation system. If anyone else wants to drive your car while you are away, that person should insure the vehicle in their name.

Are You Moving Out of State?

If you are planning on driving your vehicle in another state, you will need to get your own car insurance policy. This is because insurance companies only provide policies within the state they operate in. In most cases, you have several days or weeks after you move to complete your switch to a new policy.

Can You Get Better Rates on Your Own?

Drivers under the age of 25 tend to pay higher rates compared to other drivers with similar records. However, there may be ways to show insurance companies that you are responsible and deserving of a lower rate despite your age. Getting married or having a good credit score may help you get a better rate on your own than you do on your parents’ policy.

The Consequences are Severe If You Don’t Have Insurance

Whether you choose to stay on your parents’ policy or buy your own, make sure you have adequate coverage. Failure to carry valid insurance is a crime in all 50 U.S. states. You may also be liable for any damages incurred in an accident if you don’t have auto insurance. If you are involved in an accident caused by a driver with inadequate coverage, it may be worthwhile to talk with a lawyer.

Moving out of your parents’ house can be both exciting and liberating. However, it also means you are now responsible for buying car insurance and other things on your own. Taking the time to compare policies from multiple companies may help you find auto insurance that fits your needs and your budget at the same time.

This article was contributed by guest author Eileen O’Shanassy.