Let’s face it, young drivers are up against it. They are the most expensive to insure because they are the most likely to get in an automobile accident. This can be a financial hurdle for many families. But thankfully, there are options to find car insurance for students in Texas that can help younger drivers stay protected and save money. There are many factors to consider including the residence of the driver, age, driving history, and more. Learn more about your coverage options.
Find Affordable Car Insurance for Students
Finding the right auto insurance policy means being prepared with your coverage without overpaying. There are many, many different options for your policy, but it’s important to determine the right ones for your protection needs to avoid overpaying:
There’s no way around it. You’ll need to have liability coverage to be a legal driver in Texas. The minimum amount of coverage allowed is $30,000 worth of Bodily Injury Liability per person, $60,000 worth of coverage for Bodily Injury Liability per accident, and $25,000 worth of coverage for Property Damage Liability per accident.
Many drivers are tempted at the prospect of sticking with minimum coverage, however, doing so can leave young drivers in a much worse place. Remember, students are typically in their teens and early twenties and more likely to be involved in an accident. Having enough coverage is critical to avoiding a large financial hurdle after a wreck.
Liability coverage protects you from paying to restore the loss of another driver, but collision coverage is there to help you repair your vehicle. If you are involved in an accident and found to be at fault while lacking this coverage, you’ll have to pay out of pocket to restore your property.
Hitting a deer on the way home from the University of North Texas, having a car flood while attending the University of Houston, or suffering severe damage from a rock hitting your vehicle after a football game at Westlake High School…all of these incidents are covered when you have comprehensive coverage. This protection helps pay for the unexpected losses that come outside of an accident.
When you combine liability, collision, and comprehensive coverages, you’ll receive what is known as “full coverage” auto insurance. Cheap full coverage car insurance in Texas is possible even for students as multi-policy discounts can help you enroll in more coverage for less.
Medical Payments or Personal Injury Protection (PIP) Coverage
Medical expenses after an auto accident continue to rise. Medical Payments or PIP Coverage can help pay for injuries, lost wages, or even funeral expenses. While we all hope for the best, the unfortunate truth is that car accidents are the number two cause of death in teens according to the Centers for Disease Control’s Teen Driver Fact Sheet. Staying prepared is imperative to help prevent a lingering tragedy from becoming that much worse.
Uninsured/Underinsured Motorist Coverage
A hit-and-run or an auto accident with a motorist that doesn’t have insurance or enough insurance means you’re stuck paying the bill. This coverage helps cover these costs so that you can focus on paying tuition, not a body shop.
Vehicles that still have money owed but are totaled become a giant money pit with no return. Gap coverage can help protect your finances by providing you with a financial safety net in the event you are in such a situation.
Additional Coverage Options
Car insurance for students is important but the risks will be different for everyone. Speak with an agent about the many different coverage options available to best protect your vehicle according to your needs.
How Much Is the Student Discount for Car Insurance?
According to the Insurance Information Institute (III), teenagers can add 50% to 100% higher costs to auto insurance premiums. This means that in both high school and college, students can expect to pay very high rates for their protection.
Car insurance companies are all looking to do the same thing, insurance their policyholders while managing risk. If you are a policyholder with more risks involved, you’ll have to pay more. If you have fewer risks as a policyholder, your premiums will likely be lower.
Further complicating things, each auto insurance company handles this differently. Using complex, proprietary algorithms, auto insurance providers determine your level of risk, but they each have their own methods. This is why you can receive a quote from one brand that is significantly lower than another brand even when all other factors are the same.
Considering that young drivers are the riskiest to insure, it’s no wonder that affordable student car insurance may feel overwhelming to find. Finding the right discounts will help, but the best option available for lowering your costs is to compare your coverage among many different brands. This is why Freedom Insurance Group works with 25+ top-rated providers for students in Texas.
Good Car Insurance for College Students in Texas
Cheap car insurance for college students in Texas can provide a few more opportunities than students in high school. It’s unlikely that a high schooler has a home or anything else to insure, but college students may have additional ways to save when staying covered:
- Bundling with a home insurance policy is another great way to save money.
- A more common solution, however, is to bundle through renters insurance. Auto insurance for college students can be combined with renters insurance for better protection at a lower rate.
- College student car insurance rates tend to go down once you enter your twenties. This trend often occurs again after turning 25. Practicing safe driving and having a clean record can help you focus on your education while spending less on insuring your vehicle.
There are different paths taken in college, so exploring the options specific to the individual is the best course of action for determining the best way to save. The best car insurance for college students will simply protect the student for the lowest price on the market. Taking the time to compare and shop can save you hundreds if not thousands of dollars.
Auto Insurance Discounts for Young Drivers
Bundling isn’t always an option for younger drivers. Thankfully, there are discounts aimed at helping young drivers reduce their high car insurance premiums. Although your best tool is to compare for savings, you’ll also want to understand the discounts available to maximize your savings:
The Good Student Discount is aimed at those who are in school and hold at least a “B” average or greater in their classes. This is a great tool for both high schoolers and college kids that can garner as much as 20% off of their rates.
A Resident Student Discount helps lower college student auto insurance rates for young drivers. There is a catch, however, as the student being covered must live a minimum of 100 miles away from the vehicle that is being insured. Savings can be as high as 35%. Use the Waze Maps tool below by clicking the expand button in the upper right corner. Then input the address of the vehicle and where the student will be living while away for college to see if you qualify.
Although it may take some time to enjoy a Safe Driving Discount, young drivers who begin safe driving habits are less likely to be involved in an accident and set themselves up for savings in the future. This is a viable option for college kids who don’t have a bad driving record or claims history.
Helping You Save on Texas Auto Insurance for Students Since 2005
Texas is second to only California when it comes to the number of teen drivers that are on the road as well as the number of college students enrolled. Freedom Insurance Group has been helping families protect younger drivers who are focusing on their education since 2005.
Our network of top-rated insurance companies provides our clients with the very best auto insurance companies available in the Lone Star State. By comparing your coverage among these providers, we can pinpoint the very best car insurance option for you.
Combined with shopping for discounts and taking a personalized approach to your coverage, we help our clients save 40% on average. Car insurance for students can feel like a tricky field to navigate, but that’s why we’re here. Ask an agent today to begin saving or get a better idea of your coverage options by using our no-obligation, online tool for a free auto insurance quote.