Cheap Car Insurance for Students
>> Saturday, February 20, 2010
When you're a college or high school student, cheap car insurance can be hard to find! For everyone under 25, auto insurance can be expensive-- especially for men! To top that off, many college students attend school in urban areas or college towns, and both of these geographical locations usually come with higher insurance premiums.
So what can a student do to get cheaper car insurance? To some degree, you'll have to accept that insurance is going to cost more than you want, and look forward to the day you turn 25 and it gets cheaper. However, there are some practical things students can do to reduce the price of their auto insurance.
1. Get good grades. Insurance companies figure that responsible students are responsible drivers, and they'll give you a discount if you have good grades. Ask your insurance company what kind of discount they give, but typically discounts apply to students who are in the top 20% of their class, have a 3.0 GPA, have a grade average of B or higher, and/or were on the Dean's List of Honor Roll the previous semester.
2. Be a good driver. Good drivers pay less for insurance. Avoid accidents and avoid tickets and after awhile, you'll be considered a lower risk driver and will pay less.
3. Take advantage of low mileage and carpooling discounts. Many insurance companies offer reduced rates for people who don't have a long commute, and if you're a student who lives near campus, this may include you! If you're living at home and commuting a longer distance to school, you might be able to save money by finding a carpool buddy.
4. Go on your parents' insurance-- maybe. If your parents are willing to keep you on their car insurance, this may save you quite a bit of money. However, this varies by situation, and sometimes it's cheaper to get your own insurance. Get some quotes from an insurance company and find out.
5. Make sure your credit history is good. Insurance companies check credit ratings and will charge more for people with low credit scores. Most students don't have great scores because they're not old enough to have long credit histories. Therefore, if you're a student, it's very important to pay your credit card bills and make other payments on time so you can build good credit instead of wrecking the little credit you have.
6. Take a community driving or defensive driving class. Insurance companies generally offer discounts to drivers who take a safety class.
7. Don't drive without insurance-- ever! Sure, this could save you some money, but at what cost? Aside from the fact that you can lose your license and go into financial ruin if you get into a serious accident, you can wreck your credit history and say goodbye to cheap insurance for decades if you are caught driving uninsured. It's not worth the risk!
8. Don't drive under the influence of alcohol- ever! Needless to say, there are countless reasons not to drink and drive. But one you may not have considered is how much your car insurance will cost if you have a DUI or a DWI on your record.
9. Consider your choice of vehicle carefully. The price of insuring a car differs greatly by make, model, and year. A sports car will probably cost a whole lot more to insure than your mom's old station wagon. Before you purchase a vehicle, always get insurance quotes.
10. Consider doing without a car. For some students, it's not feasible to get by without a car. But for many, it is, and this choice can save you an incredible amount of money.
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