Is it Possible to Get Cheap Auto Insurance for Students?
When it comes to buying auto coverage, college students and teen drivers are at a distinct disadvantage with crash statistics working against them. Typically, young drivers have the highest auto premiums given the fact that teens are involved in the most number of crashes each year, resulting in an estimated 3,000 fatalities and over 450,000 injuries. However, all is not lost for youngsters seeking insurance. With the simple tips discussed below, it is possible to get the cheapest car insurance for college students without compromising on the extent of coverage offered.
Does Your Status As A College Going Youngster Actually Impact On Auto Insurance Rates?
Yes, the fact that you are a new, inexperienced driver hence more prone to accidents is a crucial factor that impacts the insurance premiums offered to college students. Add to this the fact that the vehicles used by young men and women are often parked in unsecure areas; this simply raises the bar of coverage rates further.
Another issue that will have a bearing on the premiums charged for auto insurance will be the distance between where you live and your university. The area in which the academic establishment is located will also be considered. After all, the more the distance covered the higher is the chance of getting into a mishap. Similarly, people attending colleges in rural areas will generally be offered lower rates than those going to school in urban areas.
The logic is the same as before, a busy road in a bustling metropolis poses a higher risk of accidents. Undoubtedly, how good a driver you are and how diligent you have been about keeping your driving record clean will also make a huge difference to the premium that you end up paying. Finally, your grades will also impact the insurance rates you get. Now, there is the impetus you need to work harder on those school assignments!
Not All Cars Have The Same Insurance Rates!
Sure the prospect of driving around in a flashy convertible which will be your ticket to all the cool frat and sorority parties is an enticing prospect. However, the more expensive or showy a car, the higher you will end up paying to have it insured. For instance, in 2014, the Jeep Wrangler Sport from Ford had the cheapest auto insurance rates, while the GT-R Track Edition from Nissan clocked in a staggering coverage price of almost $3,200 per annum.
For those who are considering a new car, Honda would be a good choice. Not only do their cars have a lower price tag but also they are quiet inexpensive to insure. Moreover, you will be offered a better insurance rate for a preowned car compared to a new vehicle. Also, family sedans are cheaper to insure than convertibles and SUVs.
A lot of car manufacturers such as Acura and Toyota offer car coverage as part of the purchase package; this can help you to reduce the total insurance costs incurred while you are at school. Also, a vehicle which has safety features installed such as an anti-theft system is a surefire way to get the cheapest car insurance for college students.
Think About The Mileage You Are Going To Clock!
The extent of coverage you will need and how much it will cost you will also depend on how much you intend to use the car. For instance, if the car is going to be sitting in your parents’ garage while you are away at the university, you can roll back on the coverage to just a third party insurance and therefore reduce your insurance rates. On the other hand, if you intend to commute to college every day and are going to use your car for the travel, you will need comprehensive cover which will undoubtedly cost you more.
Also, most insurance companies have a program called “resident students” discount which can bring down the auto cover charges down by as much as 30%. Students who are going to schools that are more than 100 miles away from their home and who do not intend to use their vehicles while they are at college qualify for this discount. However, you will have to let the car insurance company know about this as soon as you can after the start of the academic year.
The State You Live In Matters As Well!
Where you live will also have a bearing on whether you get the cheapest insurance for college students or not. For example, according to the National Association of Insurance Commissioners, Washington DC has the highest auto insurance prices while North Dakota has the most affordable coverage rates.
If you want to find out How Much is Auto Insurance per Month by State, please click here.
What Can You Do To Get The Cheapest and Best Insurance For College Students?
One of the simplest ways to save 10% to 20% on auto coverage is to bundle your auto insurance with that of your parents. This is the most viable option for those who do not intend to keep their car on campus but do borrow a friend’s vehicle from time to time or use their own car during vacation. If you do want to have auto coverage in your own name, here is what you can do to save on the premiums.
Get good grades: A stellar academic performance points to the fact that you are a responsible young person hence less likely to get into mishaps caused due to drunk driving and other such wayward behavior. In fact, a statistical analysis of college students who were involved in automobile crashes showed that those with a higher grade point average had considerably fewer accidents on their records. This has led insurance companies to offer reductions of 15% or more to student who earn a B average or better.
Be a conscientious driver: If you don’t have accidents, speeding tickets and other traffic violations marring your driving records, you could save as much as 45% on auto coverage.
Prove your commitment to safe driving: You will find several insurance providers who will be happy to shave off another 10% from your premiums if you were to take a motor accident prevention course.
Greater safety means lower insurance rates: Make sure your vehicle has anti theft devices, restraint devices that work once the doors are closed and front-seat airbags, which can further lower your premiums.
A higher deductible equates to lower cover rates: Depending on the extent on vehicle usage, you could raise your deductible which will automatically bring down insurance cost. However, this is a two sided sword because in case of an accident, you will end up paying out of your pocket.
Top Providers of Cheapest Car Insurance for College Students
State Farm: A well known insurance company, StateFarm offers discounts for good grades, multiple vehicle coverage, good driving and defensive driving courses among others. To find available discounts in your state, go to State Farm Car Insurance Discounts for teenagers.
All State: This coverage provider promises to cut down on insurance costs without compromising on the amount of protection offered. They offer discounts to youngsters who take their online teen safe driving course and you can also expect safe driver rewards. For quotes, visit allstate auto insurance teen-driver.
Nationwide: Another provider that is known to offer affordable insurance to young drivers, from Nationwide, you can get discounts for good grades, multi policies, safe driving records, defensive driving courses and more. To find out how much a policy from Nationwide would cost you, go to nationwide car insurance policy.
Liberty Mutual: This is one of the few insurance companies that will also reduce your premiums if you are part of one of their partner alumni associations. Apart from this, Liberty Mutual also has a scheme in place that allows students to take their computer based TeenSmart driving course to reduce coverage costs. Visit them at libertymutual auto insurance for teen-driving for more information and quotes.
Shop Around To Get The Cheapest Auto Insurance for College Students!
On a final note, remember that auto policies are like snowflakes, no two are made the same and this holds true in case of policy features, coverage extent as well as pricing. So, picking the first insurance product that you come across will be a big mistake, one that you will have to pay for through the whole year.
So, if you are looking for the cheapest car insurance for college students, use an online insurance comparison tool. This will help you to find the best cover for the least amount possible; plus, you could simply buy the policy online. Before signing up, make sure you have read the terms and conditions of your car insurance policy.
If you want to find out How Much is Car Insurance per Month by Age, please click here.
Now it’s time to start hunting around for the cheapest car insurance for college students!
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