Auto Insurance Tips For Students

With spiraling tuition costs, and an ever-increasing rate of student debt-with many students seeing mortgage-level debts before they’ve even graduated, who would be a student nowadays? And what about insurance? What if you absolutely can’t afford to be without your own transportation-what are the implications for your budget? Can you cut any corners? Well, the very first point to address is that, if you are a student and you absolutely need a car, do not think about cutting any financial corners by ignoring insurance. If you do so and either get caught or get into an accident, it could end up being one of the most costly decisions you will ever make. Quite apart from any immediate legal consequences, you will find that your insurance premiums will be astronomical-possibly for decades to come. So, instead of cutting this vital corner, let’s look at ways in which its edges can be softened somewhat.

The first, and most obvious point to remember is drive well! It’ an incontrovertible fact that the best drivers pay the lowest insurance premiums. Good driving, unlike your age, is a factor that is totally within your control. So by avoiding accidents and tickets you will place yourself in a low-risk tier, thereby lowering your premium.

Secondly, as if you needed any further incentive to work hard, insurance companies will often look at grades when deciding which tier to place you in. Research tells them that, often, the most responsible students make the safest drivers. Be sure to check with insurance companies if they offer such a discount.

As insurance companies will take into account time on the road when determining premium levels. So, if you live a way away from campus, consider car-pooling, as many companies offer car-pooling discounts.

Also, don’t be tempted to buy a sports car-no matter how cheap it may be! This initial cost can merely be considered a ‘surface cost’ as a student, under the age of 25 driving a sports car will get hammered when it comes to paying an insurance premium. premium. Always get a quote before you buy a vehicle. You don’t want a nasty shock!