When you’re a college student, one of the first things you want to do is get your own car. And if you’re not careful, that means shopping for car insurance. Unfortunately, the process of getting car insurance can be a little confusing. And if you’re not familiar with the rules, you may wind up on your parents’ policy for an extended period of time. In this blog post, we’ll explain the basics of car insurance and how long you can be on your parents’ policy. We’ll also provide some tips on how to avoid getting stuck on your parent’s policy for too long.
The Different Types of Car Insurance
There are a few different types of car insurance, and each has its own benefits and drawbacks. Here are the four main types of car insurance:
1. Comprehensive coverage provides comprehensive protection against losses that may occur as a result of damage to or theft of your vehicle, regardless of who is at fault. This type of coverage is usually required by law in some countries.
2. Collision coverage pays for damages to your vehicle that results from an accident with another vehicle. This coverage includes both the costs associated with repairing your car (the deductible) and any resulting financial liabilities (the payout).
3. Personal injury protection (PIP) covers you financially if you are injured in an accident while driving your own car. PIP typically requires only a small down payment and offers significant benefits, including payouts for medical expenses, lost wages, and funeral costs.
4. Uninsured motorist coverage helps cover the cost of damages you suffer when someone else causes an accident while driving without insurance. This coverage can help protect you financially if you are hit by someone who doesn’t have insurance or if their policy doesn’t fully cover the cost of damages caused by their negligence.
The Cost of Car Insurance
If you are a dependent student, your parents can maintain their car insurance on your behalf until you turn 18. After that, you must provide proof of liability insurance or purchase your own policy.
In most cases, young drivers aren’t required to have comprehensive or collision coverage, but they should still buy a policy if they plan to use the car for activities outside the home such as driving to school or work. Comprehensive and collision policies usually cost more than other types of policies, but they’re worth it if you drive frequently.
How Long Can You Be on Your Parents Car Insurance?
If you are a dependent of your parents, you can be on their car insurance policy as long as you are still under the legal driving age. However, if you are over the legal driving age and drive on your parents’ policy, they may have to change your coverage to a full auto policy.
As much as we may want to, eventually we have to move out on our own and start our own lives. This can be a big change for many of us, but it doesn’t mean that we have to stop relying on our parents for help. If your parents are still driving you around in their car, they might be eligible for car insurance benefits. Here are some tips on how to determine if your parents are still covered under their parent’s car insurance policy and how to get the most out of those benefits.