Kids Away at College? Here's How to Save Money on Car Insurance

In the scramble to pack your kids off to college, you may have forgotten to make an important call to your insurance company. Did you know that if your child is more than 100 miles away for home, and does not have a car at college, you can have them temporarily taken off your policy? I called GEICO and by not having a rated young driver on our policy, our premium is reduced by $363 for the next 6 months.

I saved this much even though a surcharge for an earlier accident will stay on our record while the teen is away at college. My insurance company does allow the student to drive one of the cars if he comes home just for a long weekend. However, if the student comes home for more than 30 days and will be driving your cars again, you will have to have him or her re-instated.