Cheaper student car insurance
The reality is that young people pay more than any demographic for auto coverage. The good news is that cheap auto insurance cannot be achieved as a down payment for students by making a few smart moves. Here are some simple steps students can take to lower their premiums.
1. Comply with your parent’s policy
Unless you are making a lot of money and can afford very high premiums, talk to your parents about adding your car to your policy. This will save you approximately 20% or more. Grouping multiple cars is an easy way to save and this includes students living on a tight budget.
2. Get various discounts
As a young driver, you may think that there are no discounts available to you. This is simply not true. If you have a solid GPA of B or higher, you automatically qualify for a price discount. Getting the best grades will not only help you get a good job later, but it will also reduce your premiums by 5% or more. So why do insurers give lower rates to students with good grades? The secret is in the data. Auto insurance companies have collected a great deal of statistical data on accidents. There is a direct link between people who are disciplined and academically responsible and minor vehicle accidents. Auto insurance premiums are based on the perceived risk associated with a driver, based on a person’s profile. After school is out, you can continue to get these discounted prices for up to one year, which is another incentive to get good grades.
To get this discount, students must meet various requirements. These include:
* Most auto insurers offer these special prices to students who have and maintain a GPA of B or higher during the school year. The old adage that hard work pays off is absolutely true.
* You must be an active full-time student at a high school or college.
* Most auto insurance companies cap this discount at 25.
If you are reading this as a parent, talk to your child about how to use it as motivation to get good grades. Reward them with something special, like a night out at a special restaurant, if they come home with a good report card.
3. Take a certified safe driver class
A great way for students to learn about safe driving and lower their fees is by taking a driver safety class. Classes are typically taught by retired highway patrol officers who will share their amazing tips on staying safe on the road. You will learn how to drive safely in rainy weather, snow, and what to do to avoid accidents, to name a few lessons. After completing a certified class, call your provider and request this discount. Many companies will offer an automatic 10% price reduction.
4. Buy a vehicle that is cheaper to insure
The vehicle you buy is one of the most important things that will determine your auto insurance costs. If you are a young student with a steady income or do not have a job, it only makes sense to buy a car that is cheap to insure. Yes, this means a boring car like a used Toyota Corolla or Subaru. Vehicles that are 5 years old or older can be purchased at a 50% retail discount. If you buy the car outright and don’t finance it, you have more control over the coverage you buy. If you don’t drive too much and are careful on the road, it might be smart to get a cheap liability policy. This can be had for around $ 100, even for young students under the age of 25.
5. Consider a resident student discount
Most people have never heard of a resident student insurance discount. Simply put, those students heading off to college in a different state or city can get a huge discount on fees. However, the most important thing to consider is that students cannot drive while school is in session. They will be restricted to special events, such as the Christmas holidays or the summer holidays. Students who want to take advantage of this program should first contact their insurer to make sure it is available and then provide the appropriate documentation, which is a certified copy of the admission to the school or university in which they are enrolled.