Student away credit refers to a discount on an insurance premium for drivers who are students living away from home while attending school. This discount is typically available to students whose school is located more than 100 miles from their permanent residence and who do not own a vehicle. The rationale behind this discount is that these students spend less time driving, which reduces their overall risk as drivers.
This term is commonly used in the context of auto insurance policies. It falls under the broader category of insurance law, which governs the terms and conditions of insurance contracts. Understanding student away credit can help users manage their insurance costs effectively. Users may find legal templates on US Legal Forms that assist in navigating insurance agreements and discounts.
Here are a couple of examples of abatement:
Example 1: A college student attends a university that is 150 miles away from their home and does not own a car. They apply for student away credit and receive a discount on their auto insurance premium.
Example 2: A student living on campus at a university that is 120 miles from their hometown qualifies for the discount because they do not have a vehicle. (hypothetical example)
Examples of state differences (not exhaustive):
| State | Student Away Credit Availability |
|---|---|
| California | Available if all criteria are met. |
| Texas | Available, but specific documentation may be required. |
| New York | Available with additional discounts for full-time students. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Difference |
|---|---|---|
| Student away credit | A discount for students living away from home and not owning a car. | Specific to students' living situations and vehicle ownership. |
| Good student discount | A discount for students who maintain a certain GPA. | Based on academic performance rather than living situation. |
If you are a student living away from home and do not own a vehicle, contact your insurance provider to inquire about student away credit. Gather necessary documentation, such as proof of enrollment and your school's address. Consider using US Legal Forms to find templates that can help you navigate the process. If your situation is complex, consulting a legal professional may be beneficial.
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It is a discount on auto insurance for students living away from home and not owning a car.