Car insurance for students is generally very high and parents go through a lot of anguish just looking at auto insurance rates that they are expected to pay for their children.
Drivers between the age groups of 15 and 24 are considered to be in the high-risk category for auto accidents. Hence, most insurance companies place very high premiums on that particular age group. Young males are considered to be riskier than the young females. So, their rates are much higher, but students still have some advantages when compared to non-students in that age group.
There are a number of auto insurance companies that offer special auto insurance rates, through the campus group discounts. These discounts are offered to students who manage good grades in their colleges.
Students can also avail some of the standard discounts that are offered to the driver with experience. Installing safety features in the vehicle can help you get a good discount. Having a good driving record is also the key to availing discounts on student car insurance premiums.
Although building up a credit score does help individuals, very often it is not possible for most students as they will not have sufficient credit history to lower their auto insurance rates under this category. Parents who have obtained multiple insurance policies with the same insurers can often get discounts from these companies. Hence, it would be advisable for parents to bundle up their policies such as auto, home, and life insurance with the same company as much as possible.
If student drivers practice safe driving practices, it will help lower the student car insurance premiums as well. So, it is important to teach children good driving habits. It would also make sense to get them enrolled in a driver’s education class as it would not only help them while they are on the roads, but will also help fellow drivers remain safe while they are driving. Enrolling children in the driver’s education class may not necessarily have a direct effect on reducing the premiums, but anything that will help prevent the new drivers in the household from being involved in accidents will keep the rates low. The most expensive thing than having a teenaged driver in the household is having a teenaged driver who has a bad driving record.
Parents can bring down premiums by including every member in the household in the same auto insurance policy, because paying separately for a student’s car insurance policy will always end up in higher premium costs.