Every driver in Georgia needs car insurance. And Georgia college students are no exception.
However, navigating the world of car insurance can be tricky. What kind of coverage do you need and how do you get the best deal? Better yet, can you remain on your parent’s insurance and skip the process altogether?
In this article, we’ll cover everything you need to know about car insurance as a Georgia college student.
What is the Minimum Auto Insurance Requirement in Georgia?
At a bare minimum, drivers in Georgia are required to have liability insurance, consisting of $25,000 in bodily injury liability for one person, $50,000 in BI per accident, and $25,000 in property damage liability. This applies to every driver.
Liability insurance will pay for the damages others incur if you cause an accident. Fortunately, liability insurance is generally affordable, with rates often clocking in at under $100 per month. So, if you’re a college student paying your way, liability insurance on your vehicle shouldn’t be too much of an extra burden.
What Type of Coverage Should College Students Have?
As stated in the above section, liability insurance is the most basic type of auto insurance available. And its coverage is limited to only paying for damages to others’ property resulting from an accident that you caused.
Other types of auto insurance are collision and comprehensive coverage. The type of coverage that you choose depends on your needs and budget.
Do Georgia College Students Need Collision Insurance?
While it’s not required unless you have a loan on your vehicle, it’s certainly advisable that Georgia college students purchase a plan with collision. Collision coverage will help pay for damages to your vehicle resulting from an accident – even if that accident was caused by you. This type of coverage doesn’t take into account who is at fault. So even if you rear-end someone, your collision coverage will still cover damages that your vehicle sustains.
Having collision insurance can save you tons of money in the long haul because most college students and young drivers are going to encounter a few bumps along the way.
What about Comprehensive Insurance?
As the name suggests, collision insurance is specific to accidents or collisions involving your vehicle. It does not cover things like damages from natural disasters, theft, and other events. That’s what comprehensive insurance will help cover.
If you’re leasing your car, or if you took out a loan to pay it off, then you’ll likely be required to have comprehensive insurance. If you own your car outright, then the choice is yours.
Many college students opt out of comprehensive coverage to save money. If you’re driving an older car or a junker, for example, that just gets you from point A to point B, you may decide that having comprehensive isn’t worth it for you.
Can You Stay on Your Parent’s Car Insurance?
Staying on your parents’ insurance is one way to save lots of money on your car insurance policy. However, two conditions must be met for you to do this:
- Your address must be the same as your parents’ address.
- Your car must be registered under your parents’ name.
Because of these two conditions, staying on your parent’s car insurance plan isn’t an option for every college student.
If you choose to stay on their insurance, however, note that the addition of your policy will drive up the cost of their plan. This will still be cheaper for you than taking out your own policy.
How Georgia College Students Get Car Insurance
College students can get car insurance much like everyone else. Simply reach out to an insurance provider and request a quote. Your insurance quote will be calculated based on your driving record and what type of coverage you want to include in your policy.
It’s always best to shop around when you are trying to save money on your coverage. Check with an independent agent. They’ll be able to find quotes from a variety of carriers so you can pick the one that best fits your budget.