Car Insurance For 20 Year Old College Student

This is much cheaper than the average rates for a student just starting college 18 years old 7 179 but still far more expensive than a young adult in their mid 20s 25 years old 3 207.

Car insurance for 20 year old college student.

We know college students like to lend their cars to their friends or roommates but think carefully before you do. Updated august 27 2020 by mark fitzpatrick car insurance for 20 year olds costs an average of 5 333. A student who is 18 years old and just starting college will pay an average of 7179 per year for car insurance while an adult aged 25 years pays an average annual rate of 3207. The savings can be substantial.

If you re young and healthy you should have access to the best term life rates out there possibly as low as 10 a month. Ask a state farm agent for requirement details. Administered within the last 12 months and ranked in the upper 20. You see car insurance follows the car not the driver.

Young drivers may be eligible for a good student discount which is available for students under the age of 25 who achieve at least a b average says heller. The cost of car insurance for college students is usually more than for older adults primarily because insurers view those between the ages of 18 and 22 as riskier to insure. That s one of the reasons most parents keep their college aged students on their car insurance policy after they leave home. College students who are renting an apartment and have their own auto insurance policy may qualify for a discount for bundling their car insurance and renters insurance policies.

This means if you lend your car to a friend and he gets into a fender bender your insurance must coverage the damages regardless of your friend s insurance coverage. Ask your agent whether you qualify for a discount on your car insurance bill if you continue to get good grades in your higher education studies.