It is common among parents to include their children who are college students on their income taxes till the children start earning their own living and paying their taxes. It is the same when the get their driver’s license to be included in their parents’ policies. The insurance companies offer lower rates to parents as the children get to drive less as they are away at school most of the year. When your son or daughter meets with an accident while driving, you may be responsible for any financial liability arising out of the accident. Children who are away at school or college usually have less use of your car. But they may drive a friend’s car and your car insurance will pay for any liability from this situation if your college going child is included in your auto insurance policy.
Away at school discount
If the child who goes to school more than 100 miles away you can also get a discount on your car insurance. Most insurance companies offer this ‘student away discount’ or ‘away at school discount.’ This ensures that the child is still covered under their policy and will come home for visits. The premiums will have sizable discounts when you add your teenager away at school as an occasional driver in your car insurance policy.
You have the additional advantage of getting a good student discount if they score good scores. Another way to get a discount up to 15% is to make your teen driver to get Driver’s education so that they become responsible and safe drivers. This will be considered as less for the insurance companies.The curfew on night driving for newly licensed drivers also works well for the parents who have their teenage drivers in their car insurance policies. Some insurance companies allow you to remove them from your policy when the children are away at college and add them when they come home. They should be given strict instructions not drive while they are away.
If you are a student and intend taking your car to attend school in a different province remember to inform your insurer. Many insurance companies may not be licensed to insure cars outside of the province. Some car insurers suggest that if you are a divorced parent and have custody of the teen child who is away at school, you are responsible to have him included in your auto insurance policy. If both parents have their policies with the same company, the child will be covered by both policies.
If your teenaged child gets driver’s license, it is your responsibility to add them in your auto insurance policy. If the teenager has an accident or traffic violation and they are not in your policy you may end up risking your policy denied renewal. The insurance companies have their own set of rules for insuring teen drivers from single parent homes.