Students and Auto Insurance

March 9, 2010

As you may already know, it is required by law to have auto insurance.  Although aut0 insurance is an expense that we do not see an immediate benefit from, it protects all drivers on the road.

As a student, you may feel that your auto insurance rates are higher then others and you may be right.  Due to the age of most college students, insurance companies often view them as higher risks because of their limited driving experience.  If you fall into this category there are a few things you can do to try and limit your expense.  First, make sure you shop around and compare rates.  Review quotes online and determine which policy has the ability to give the widest coverage for your budget.

Although students tend to have higher premiums, discounts are available for students.  When students receive good grades, insurance companies take note of the students’ capability to be responsible in school and translate that into a discount as a driver.

If you are in the market for a new car, go with a  basic car.  Owning expensive vehicles often leads to higher prices on premiums.  Installing extra security measures can sometimes lead to discounts as well but this particular discount varies so check with your carrier.

Most college students have a very short credit history, if any but having a high credit score will ultimately lead to lower premiums.

Finally, be a safe driver!  The better your driving record, the lower your premium is going to be!

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