Students face a lot of challenges, including tuition fees, rents, maintaining a healthy academic standing, and work. Student car insurance is another great challenge. For one, availing of coverage is never an easy task because of high costs. This is true since most insurers view students as risks, thus, they offer them high premium costs.
Many auto insurance companies are too hard on students because they see them as a group loaded with money and costlier to insure. Insurers justify expensive premiums, explaining that since young drivers are generally inexperienced behind the wheels, they are more likely to be involved in road mishaps. Although this is the case, the industry definitely does not lack cheap coverage for youngsters on a budget.
There are many ways in obtaining an affordable student car insurance. Asking for quotes from different insurers and then comparing them takes a large part of your research work. You may want to contact your family’s or friend’s agent or get quoted online. There are many user-friendly websites out there that return various offers for you. Here is the idea: Get as many rates as you can, compare them, and find the best coverage.
Some insurance companies consider students who are consistently having good grades. They give discounts to these young drivers because insurers see them as responsible persons. Moreover, the vehicle you drive is a major factor. If you drive a high-end sports car, student car insurance premium may rise because of the higher risk of theft. Thus, if you want to save on average, get a basic and low maintenance auto instead. However, make sure that it has sufficient safety features.
Others try to save on premiums by piggyback riding on the existing policies of their parents. The advantage is that it covers the young driver at a lesser cost compared to having a different policy where the rate is 50% higher than the regular auto insurance.
Try to change your classification to an occasional driver to get less expensive student car insurance. If you go to a school far from your residence and your school has a good and efficient transportation system, then consider leaving your vehicle at home, using it only during breaks. If you attend school in the city and you live in a rural district, your premium will increase due to risks. Overall, be well aware that insurers strictly consider your qualifications and classification. Thus, try to maintain a clean driving record, get a good grade in school, and maintain an outstanding credit score.