I’m a current college student in the middle of transferring schools and getting a new insurance policy. I have two schools in mind, one is 5 minutes from home in a suburban neighborhood and the other is 200 miles away in an urban city environment.
Depending on where I attend, will this affect my new insurance policy? Will living at home going to school close-by have a lower insurance rate than going to school outta town and living by myself?
Both schools and my home residency are in the same state (TX) , I should add.
What matters is if you are renting an apartment with your name on the lease or utility bills, or if you are living in a dormitory. If you are in a dorm, your permanent address is still considered to be your parents address. If you are living in an apartment, that is considered to be your address, because you have signed a lease or pay utilities.
So, if you are living in campus housing, you will use the rates available at home regardless. If you are living off-campus, you will use the rates locally, and yes there will be a difference in rates.
Good luck.