Moving Out of Your Parents' Home: Updating Your Auto Insurance

Many times, parents place their new teen drivers on their own auto insurance plan. Doing so is often a good idea because it reduces costs. However, as a child gets older and moves off to college or on their own, it may be time for a change. It is quite common for young adults not to be sure how to handle their car insurance policy after they’ve moved out. It is important to make this a time to speak to an auto insurance agent about your policy.

Can You Stay on Your Parents’ Policy When You Move Out?

For those who are moving off to college for the school year, you may still be able to remain on your parents’ policy. You can still claim to live in your parents’ home while you are at school. You are likely coming back for breaks and summer. In this case, you have not actually moved out to your own, separate residence.

If on the other hand, you have a new apartment or purchase a home, you no longer live with your parents. This means you have a separate residence. Most auto insurance policies require individuals who have bundled insurance plans – such as a young adult and parents – to live in the same residence. Moving out means you should get your own policy at the very latest when your existing policy is about to run out.

What You Should Know

There are a few things to keep in mind when doing so:

Young drivers tend to pay more for auto insurance than middle-aged individuals. Once you reach your mid-20's, chances are your rates will be more affordable than they were when you were younger.
Be sure your new car insurance policy represents the way you use your vehicle. If you won’t use it much, this can help you save money.
Work with an agent to discuss all ways you can save money. Having a good credit score can help. You can often bundle home insurance with your auto insurance to reduce your costs.

Taking these steps can help you to begin on your way to having your own auto insurance. Take the time necessary to choose a plan that fits your specific needs and one that fits your budget as well. You may pay a bit more on your own, but it doesn’t have to be too expensive.

Get in touch with Reliable Insurance Managers, Inc. today. We can get any driver a fast, free Houston auto insurance quote. Go online for a free quote, or call us at 713-227-7283 right now.

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