Parents of Teen Drivers: Let's Slash Those Insurance Bills!
Sending a kid to college is a financial rollercoaster. Between tuition, dorms, and that bottomless ramen noodle fund, it can feel like the bills are multiplying faster than textbooks. But there is a money-saving perk to sending your kid to school: the college distance discount!
What is the college distance discount?
Insurance companies love responsible drivers, and a teen with a car parked 100 miles away from temptation (read: the family car) is a pretty responsible driver in their eyes. That's why many companies offer a discount for students who live far away from home and won't be using the car regularly. It's a win-win! They get a safer driver on their books, and you get some serious cash back.
How much can you save?
This discount can vary depending on your insurance company and your teen's specific situation. But you could potentially save hundreds of dollars each year.
Safer driving— better savings.
Getting this discount can actually encourage safer driving habits in your teen! Knowing their car use affects the family insurance bill might make them think twice before borrowing the car for a joyride with their friends. Plus, it opens up a conversation about responsible car ownership and the importance of safe driving – a conversation every parent wants to have with their teen driver.
How can you get this discount?
It's pretty straightforward. Most insurance companies just need proof that your teen is enrolled in a college more than 100 miles away and lives on campus or doesn't have regular access to the car. A quick call to your insurance provider and a document or two from the college, and you could be well on your way to saving money.
Don't Miss Out!
Sending a kid to college is expensive, but it shouldn't break the bank. The college distance discount is a fantastic, and often overlooked, way to ease the financial burden. So, before your teen heads off to college, give your insurance company a ring and see if you qualify. Those saved dollars might just come in handy for that next care package filled with their favorite snacks (and maybe a gentle reminder to call home!).
