There are two types of student car insurance: those which offer limited protection and those which offer comprehensive protection. The former covers only serious injuries to the driver and serious damages to the car, while the latter covers all possible injuries and damages to driver and car. A policy with limited coverage is cheap, but student drivers, naturally, would want a comprehensive coverage that is not burdensome to their savings.
Books and other school related expenses eat a large a portion of students’ allowances. However, there is no way students can give up car insurance coverage. It is the only protection they have in case of accidents. Neglecting this means facing more financial problems should they figure in road mishaps without it. Actually, student car insurance policies need not be too expensive. Students just have to be diligent in searching for the type of policy offering convenient terms.
Certain aspects about the student driver and the car affect the amount of money he has to shell out for insurance. These include gender, age, history of the vehicle, location (cars located in areas with high crimes rates are considered high risk), use of the car, condition of the car, and the driver’s driving record. Insurance companies see young people as naturally inclined to be less cautious when driving compared to older people. A student whose driver’s license is blemished with a variety of violations like illegal parking and over speeding, naturally, is not looked upon with approval. A vehicle which has figured in a few accidents, not well conditioned, and used extensively everyday is considered by insurers as a high risk case.
One recommended method of getting a cheap student car insurance is buying an excellently conditioned, but older model vehicle. Insurance companies charge higher premiums on expensive cars, especially sports cars. The price of a high-end car can only increase insurance premiums.
A primary step in acquiring reasonably priced student car insurance is to know discounts that insurance companies grant. Discounts offered are different from one insurer to another, and a student only has to invest a little of his time on research.
One ideal place to visit would be the internet. Friends, relatives, fellow students are also excellent sources of useful information. However, there is somebody who can really help a student in searching for the most suitable car insurance: an insurance broker. He knows about insurance coverage more than anybody else and knows where to look. In addition, he knows how to negotiate for better terms.