Should I keep my auto insurance policy active while I am away at college?

"Is there an option to not have insurance if I don't plan on driving for four years? I am leaving for college in the fall and plan to dorm on campus all four years. There isn't a place for me to keep my car, so it will just stay home. I know you shouldn't have a lapse of insurance but it seems like a waste to pay for car insurance when the car is parked."

Answer
“Congratulations and good luck with school!
You’re right, most campuses don’t have parking for first-year students living in the dorms. But many times, they do have parking for upperclassmen, so you may want to check into that option later on.
Maintaining continuous insurance is a good way to keep the long-term cost of your insurance down. In this situation, you may want to look into a storage plan. With a storage plan, the liability coverage and collision coverage are removed, and only comprehensive coverage would remain. This would provide you with an extremely low premium, but keep in mind this means the car can not be driven at all until coverage is put back on.
If this is not an option with your carrier, get a quote from GEICO. They do have a storage plan option and work well with students.”
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Shannon Martin
Answered on Jul 28, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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