Most of the auto insurances target the college students because these clients are usually loaded with cash, and are more costly to insure. The insurers are claiming that the young motorists are inexperienced and are more likely to get into accidents and make claims hence they charge higher premiums for the student car insurance. Keeping that in mind, students can expect higher rate of premium than that of the regular car insurance policies. They can prepare their budget to include the cost of auto insurance.
How to save money on student car insurance
Student car insurance is usually more expensive, when compared with the other types of vehicle coverage. This is because young drivers are perceived to be less disciplined on the road, lack training on road-safety standards and therefore more prone to car accidents as such. But getting a cheap student car insurance policy is not impossible.
Third Partycoverage only offers the basic level of coverage. It covers you for claims made against you by other people following an accident. It covers your liability for injury to others and damage to their property.
Third Party Fire and Theft coverage provides the same level of protection as Third Party Only, but also covers your vehicle against fire damage or theft. For cheaper student car insurance, Third Party Fire and Theft coverage is worth considering. In general, it's not that much more expensive than Third Party Only, but provides important cover against fire and theft.
Comprehensive coverage provides all of the above, and includes accidental damage cover for your own car, plus other benefits such as cover for personal possessions or medical expenses for losses due to reasons other than collision with another vehicle. Choosing a higher deductible that you can afford will reduce the rate of premium for your student car insurance.
No-claims discount- A priority
By being responsible while driving students should always throng to get the No claims discounts, as it would considerably bring down the students car insurance rate. The insurers of your parent's car may not wish to continue providing coverage if you take the car with you to the university. If you decide to take your own car you will need to insure it yourself. Once you have your own policy your goal should be to earn your first no-claims discount.
If you drive sensibly, by following the Highway Patrol Codes and stay within the speed limit as prescribed you can avoid making claims on your students car insurance policy. That means you earn a reduction in your premium when you come to renew your insurance policy translating into more savings for you.
The Actual Vehicle
The smaller, older and less sophisticated the car, the cheaper the policy will be. Students should also avoid driving high-performance sports cars such as large SUVs. Experts suggest that parents let their college students drive least expensive cars to cut back on student car insurance expenses.
Mileage also makes difference
It's worth thinking about the amount of driving that you'll be doing while you're a student. If you're driving to the university and you need to calculate the mileage of driving to the campus. You should think about reducing annual mileage by living closer to the university. Try to reduce your annual mileage to receive cheaper car insurance.
By keeping the car in a locked garage, which could mean you pay a lower students car insurance premium. If you are living off campus in an area where you are concerned about car theft, it may be worth installing extra-security devices to your car. Tracking devices and immobilizers are likely to attract the best discounts from insurers.
Driving under Influence
Young drivers should also refrain from driving under the influence of drugs or alcohol. Driving under any of these could mean severe consequences for insurance premiums including getting your insurance cancelled.
Be a good student at Driving Schools
Students who perform well in the schools are often considered as more responsible drivers by the insurance providers. They can usually qualify for “good student” discounts and slash ten percent off their insurance premiums.