A college student’s car is like treasure to a pirate. A car is something that few students have the luxury of having.
Many students commute by bike or walking to school. However, if you’re one of the few who drives to campus on weekends, you need to be ready for the responsibility of driving a car. You will need student car insurance.
Car insurance for students is a major expense that students will have to pay, after books and tuition. However, if you’re careful when choosing student auto insurance you can still save money and fit the payments into your student budget.
Basics of Student Car Insurance
It can be hard to find cheap student car insurance, as younger drivers often have higher premiums. This has nothing to do directly with you, but younger drivers tend to have more insurance claims than older ones, so insurance companies will be more likely to charge you more to make more money.
Other factors can also affect how much a student pays for student car insurance.
- Driving record
- The location of the vehicle
- Vehicle damage history
- Distance driven daily
These are the main factors that must be considered when applying for student auto insurance. However, there are many ways to lower your premium. It is possible to choose the best student insurance.
Tips to Choose Your Student Car Insurance
While you cannot avoid being young and in college there are steps that can be taken to reduce your monthly student car insurance payment. Even though you’re looking for car insurance that is specifically designed for students, not every insurance company offers it. Follow these tips to find a lower-cost car insurance plan.
Browse Around for Options
Get as much information about at least three insurance companies. Compare their premium rates to find the one that offers the most value for your money.
It is important to understand the basics of student car insurance plans in order to choose the best plan for you. While not all student car insurance is created equal, the majority of the plans cover the same areas.
These are the six main components of a student’s car insurance policy:
1 Bodily Injury – Covers bodily injuries you may have caused another person.
2 Personal Property Liability – Covers any damage or injury that you may have done to another person’s property.
3 Collision – This covers you in case of an accident with another vehicle or object such as a parking meter, utility pole or other similar objects.
4) Comprehensive- Provides protection in the event that your car is stolen or damaged by weather or theft. Both of these types are recommended for students who want to insure their car.
5) Personal Injuries Protection (PIP) –Covers medical expenses and lost wages for policy holders and injured passengers.
6) Uninsured Driver – Covers for motorists without car insurance. You are also covered for hit-and run accidents.
Maintain Good Grades
Students with a minimum of a B average are eligible for discounts from many insurance companies. When you apply for car insurance, make sure to bring proof of your grades.
You should always apply for any discount offered by the insurance company, even if you are eligible for a student discount. Many insurance companies will give you a great deal if multiple insurance plans are purchased together, such as car and renter’s insurance. They might also offer a family discount if you sign for the same insurance policy as your family members.
Get the Right Car
Before you can get student car insurance, make sure you get the right car for you. Car insurance is often determined by a car’s safety probabilities. Smaller cars are more at risk. These cars are more vulnerable to theft, so it is better to buy a practical vehicle with reliable gas mileage and reliability than one that costs more than you have money.
Drive Less, Walk More, or Bike More
You don’t have to drive your car every day, even if you own one. You can save money on gas if you live near campus. If you drive less than a certain amount of miles per year, some insurance companies will offer a low-mileage deduction for your car insurance. This allows you to save money on long-distance driving.
Increase your Deductible
You can save 15% to 40% on your student insurance premium by increasing your deductible. This is the amount that you pay towards a claim before insurance companies pay.
Install Secure/Antitheft Devices
You should have your airbags and seat belts replaced as soon as they stop working. If you don’t already have an alarm system installed, install one. Your car insurance company will pay less if you are more secure against burglaries and accidents.
Be Safe Driver
Safe driving is the most important thing you can do to lower your student’s auto insurance. You will save money on your car insurance if you avoid any driving offenses or auto accidents. This means that you shouldn’t drink and drive. You should also ensure your vehicle is kept in a safe place or garage.
You want college to be fun and safe. If you own a car and drive it every day, make sure you have student car insurance.