Car Insurance for College Students
Introduction
Whether you’re a freshman about to leave for college, or you have already completed a semester or two, if you’re a car owner, you should make sure that the insurance company you’re with is providing the best car insurance for students.
Whether you believe it’s fair or not, some insurance companies charge higher premium, or have stringent penalty clauses, in the auto insurance they offer to college student. So, before simply accepting the premium that your existing insurance company offers,, it’s worth looking exactly what you’re being offered, and if you can get it for a better deal elsewhere.
Why is car insurance for students so high?
The first thing to remember is that car insurance premiums for students are dependent on the type of car insurance coverage you choose. Legally, you must include at least liability coverage in your car insurance. You can also include collision and comprehensive coverage, etc.
Car insurance for anyone can be expensive, so as a student looking for car insurance you shouldn’t take it personally if you think the premium you’re being asked to pay seems high. The higher cost of the premium you’re charged is probably just due to your young age. Whether it’s right or wrong insurance companies view anyone under the age of 25 as a higher risk than older, more experiences drivers. So, by and large, the fact that you’re a student is immaterial to the insurance company. If you are a student over the age of 25, chances are you’ll be offered a lower premium - the same as someone that isn’t a student.
Saving money on car insurance for students.
Saving money on car insurance for college students is bound to be a topic that’s regularly discussed in dorms, dining rooms and lecture halls. Depending on the value of your car, one surefire way for college students to save money on car insurance is to only take out liability cover. However, you’ll need to make some careful decisions yourself on the wisdom of this choice. As a driver under the age of 25, let alone also being a student, chances are that you may not have the latest Ford Mustang or a brand new neat little sporty European number like a Lotus Elise. - A typical student car tends to be a used auto that was purchased for less than $5,000. That being the case, not purchasing expensive collision and comprehensive cover may well make financial sense.
Another way for college students to save money on car insurance is to increase the deductible. For example, if you have a $500 deductible, and you have an accident in which the damage to your fender will cost $600 to repair, you’ll agree to pay the first $500. This could save a lot of money on a car insurance premium, but is typically only really financially sensible if you don’t have more than one minor accident during the duration of the insurance policy.
Other ways for students to save money on their car insurance.
Calculating car insurance premiums is a complex business for auto insurance companies. It isn’t just dependant on your age. The area in which you live can affect your car insurance premium, especially if you reside in an area with a higher than average crime rate area, especially for those related to cars. If you can keep your car in a garage overnight,, it just might reduce your premium a little, so be sure to ask your insurance company. Similarly installing an alarm system and immobilizer may help and, if you were thinking of modifying your car - like fitting a 300hp V8 engine into a Focus Coupe - don’t, as that could skyrocket your car insurance premium.
A great way of proving to your insurance company that you’re worthy a car insurance discount as a college student is to take some advanced driving training after passing your driving test. So, when searching for great car insurance for students on the Internet, look out for companies offering things like SmartRide(SM) Learning courses.
There is no excuse for not carrying basic liability coverage for your car – it’s the law. Any reputable and established insurance company will be able to provide a quote to meet your minimum legal car insurance requirements and matches the budget you can afford.