Saving on student car insurance may be trickier than how most people think it is. This is because insurance premiums are determined by a lot of factors and student car insurance is influenced most by the higher risk of having a young driver mitigated by the lower risk brought about by the fact that he or she only drives short distances in a day.
Young drivers under 25 years old are thought to be riskier. According to the National Highway Traffic Safety Administration, drivers in this age range are four times more prone to die in an accident compared to older drivers. This additional risk brings up insurance premiums for students under 25. However, students tend to drive less distance and less often compared to adults. For college students, they often live on campus or near it, which brings the risk down.
There are, however, other ways for students to save on car insurance premiums. Aside from the usual comparison shopping, paying a higher deductible and other typical ways of saving on car insurance, students can also avail of discounts that are especially created for them. Here are some:
- Club memberships often offer discounts on your car insurance policies. Being a member of a fraternity, or AAA, the National Honor Society, can give you discounts from certain insurance companies, so ask around which companies offer what types of discounts on student car insurance.
- Drive safely and do not drink and drive. Driving drunk not only increases the chances that you would encounter an accident on the road; it will also increase your student car insurance premiums if you are caught. A clean driving record is a manifestation that you are a responsible and low risk individual. You can use this leverage to bargain for a smaller premium the next time.
- Install safety features on your car. You can also save up on your car insurance premiums by installing anti-theft devices, alarm systems, theft recovery systems, automatic seat belts, air bags and other safety features on your car.
- Get special student discounts. There are a lot of insurance companies that offer student discounts to those who meet certain criteria like a certain grade point average. You can also avail of student insurance discount through your university.
- Get driver’s education classes. Qualified driver’s insurance courses make you eligible for discounts on your student car insurance. This is because these courses will equip you with basic driving techniques, defensive driving strategies, and even simple traffic and road rules, making you a better driver and less risky to insure!