As a college student, am I supposed to use my home or college zip code when comparing quotes?

UPDATED: Apr 20, 2015

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UPDATED: Apr 20, 2015Fact Checked

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Asked April 20, 2015

1 Answer

The cost of car insurance is sharply affected by the location where the car is kept. The Zip Code on the vehicle registration is used to look up claims and crime actuarial tables for the place where the car is parked at night, and that influences the basic rate of insurance for the car.

Under state law, registration and driver license regulations require you to change the address listed on the document within a specific amount of time after moving. Even if you are away at college but still living in your home state, the difference in address is vital for the Department of Motor Vehicles in case some tragedy occurs. Some exceptions are made for college students in their state of residence, because it can be realistically assumed that you still spend a large portion of your time near the old home address. Keep in mind, however, that the law requires the changes, and you can be fined for failing to make them under normal circumstances.

If you reside at or near the college you attend, then your car insurance should reflect that fact. If you maintain a 3.0 grade average or higher, you can even qualify for a discount on your car insurance because of being a good student in your university studies. If you file a claim on the policy and your place of residence differs from the location on the policy, your claim could be denied and the insurance company would even have the option of canceling your policy, although cancellations are rare under this particular circumstance.

Another way you can reduce your car insurance premiums while you are away at college is to take a voluntary driver improvement course. Once you present a copy of the certificate of completion for the course, you will be provided with an insurance discount that, by law, applies to your car insurance for anywhere from 1 to 5 years, saving you money throughout your college education.

Answered April 21, 2015 by Anonymous

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