How College Students Can Save Money on Car Insurance
Let’s face it: college is a fantastic opportunity for education, but it’s a lot harder to have fun when you don’t have a vehicle. What more reasonable expectation could a senior in high school have than to finally have his or her own car? However, purchasing a vehicle comes with the headache of having to pay higher insurance rates, which are higher for the younger demographic of society. This is due to the fact that people under the age of 25 have been statistically proved to be high-risk drivers. I am curious as to whether or not there is anything that I, as a college student, can do to keep my vehicle insurance costs as low as possible. All you college students who drive, here is a list of five things you should and should not do with your auto insurance.
Do’s:
Maintain a high grade point average. Auto insurance companies believe that students, on general, are more likely to drive recklessly since they are still in the process of learning how to drive. In point of fact, 61 percent of teenage drivers confess to engaging in unsafe driving behaviors such as not wearing a seatbelt while behind the wheel. They seem to have a greater propensity for being easily distracted and acting on impulse when it comes to making judgments while driving. However, if a specific student can demonstrate that he is responsible, then the insurance company may be willing to provide a reduction on the student’s auto insurance premiums. Keeping up solid academic performance is one of the most effective methods to demonstrate that you are a cautious driver. Students who have a grade point average that is higher than 3.0 may be eligible for the “Good Student Discount” offered by some insurance providers.
Participating in a carpool One piece of advice that is applicable to anybody who is interested in purchasing automobile insurance is that the less you drive, the cheaper your monthly premium will be. How much less do you have to drive before your insurance will change because of it? If you drive fewer than 10,000 miles per year, the majority of insurance providers will lower your costs. Less time spent behind the wheel equates to less time spent on the road overall, which implies a reduced risk of being involved in a collision. Carpooling is not only an excellent strategy to cut down on the number of miles you travel but also to increase the number of friends you have.
Outfit your vehicle with anti-theft devices and airbags Any form of security precaution that you place in your vehicle will lower the likelihood that it will be stolen or seriously damaged in an accident. Airbags are a good example of this. You may save valuable dollars off of your monthly premium by installing safety features like air bags and car alarms in your vehicle. These are some of the most practical methods to make driving safer for yourself.
Routine maintenance and service Just as it is more cost effective to get life insurance when you are in the top of your health, it is also more cost effective to purchase auto insurance while your vehicle is in good shape. Cars that have been properly maintained are less likely to have breakdowns and get better gas economy.
Invest in a pre-owned vehicle Rather of purchasing a brand-new vehicle for the first time, consider the numerous advantages of purchasing a used vehicle instead. If it’s your first time buying a car, you should probably choose something used rather than brand new so you don’t have to go through the trauma of damaging a brand new vehicle. You should put off purchasing a luxurious SUV or a branded sports vehicle until later in life, when you have previously shown that you are a safe and responsible driver by maintaining a lengthy and spotless driving record. Having said that, when you are just starting out, you should definitely get a pre-owned vehicle.
Insurance companies believe that secondhand automobiles have a lower likelihood of being stolen. [Citation needed] Even if it is totaled, the cost of repairing it will be less than the cost of buying new components for a comparable vehicle. It becomes even better if you purchase a tiny car since smaller vehicles have a less powerful engine, which makes it less likely that you will get into a truly horrible accident at a high speed. This is because smaller cars are less likely to be involved in a collision with a larger vehicle. Used automobile insurance is often sold at a discounted cost by insurance providers because of all of these reasons.
Don’ts:
Don’t drive after drinking alcohol: The easiest method to obtain a decent bargain on your insurance coverage is to have a spotless driving record and to keep it that way. A few DUIs will destroy that record far more quickly than anything else. Driving under the influence of alcohol or drugs is not only against the law, but it also poses a significant threat to your own personal safety as well as the safety of others who are sharing the road with you. In 2009, intoxicated drivers were involved in 32 percent of all traffic incidents that resulted in fatalities. Drinking and driving demonstrates a callous disregard for both others and one’s own life.
Permit other people to drive your vehicle It’s natural to want to assist a friend who is in need of transportation, but rather than continually offering to take the buddy to wherever it is that they need to go, consider letting other people use your vehicle instead. Do not lend your vehicle to a friend because if they get into an accident while driving it, you will be held responsible. Not only will your insurance company have to pay for the damages, but you will also have to pay the deductible and it will have an impact on your record, even if you weren’t the one driving!
Avoid getting tickets for moving violations: If you have more than two moving infractions on your record in a given year, your insurance price is going to go through the roof.
Drive a Sports Car: Vehicles that are larger and of higher quality have a greater chance of being stolen. When they are involved in accidents or break down, they also need more expensive repairs. From the point of view of the insurance business, sports vehicles have the most powerful engines, which might encourage the driver to drive aggressively and at higher speeds. When you compare the cost of insuring a brand-new sports vehicle with the cost of insuring a used car, you can see that purchasing insurance for a brand-new sports car on the first day of college will undoubtedly be more costly.
Skimp on the coverage: College students may feel the need to get inexpensive insurance that provides just the bare minimum of protection. But you should not proceed in that manner. You should seriously consider purchasing and maintaining full coverage insurance on a used vehicle rather than basic coverage on an SUV because if anything were to happen to you and your car, you would have peace of mind knowing that you would be insured for the majority of potential outcomes. Full coverage insurance often comes with a larger deductible, but having a higher deductible may serve as a motivating factor for drivers to reduce their risk behind the wheel.
Before you go out and acquire auto insurance, it is important that you give some thought to the following dos and don’ts. The fantastic thing is that you can get free quotes for auto insurance online, and you can even compare the auto insurance quotes offered by several companies to choose which one gives you the greatest coverage and the most savings for your particular vehicle.
