Affordable Car Insurance for Students


Graduation cap and diplomaInsurers take many factors into consideration when they calculate the premiums of applicants and age is a key factor that is used by auto insurance companies to determine the price they will charge for coverage. Since students are usually younger motorists they generally pay higher rates due to the risk that they pose of being involved in a traffic accident based on statistical data.

Young drivers are those considered to be under 25 and account for a large percentage of traffic accidents in the country even though they make up only a small portion of licensed drivers. A student looking for coverage may find it difficult to find an affordable rate, but comparison shopping and comparing options can be the most effective way to get a youthful driver insured at a reasonable price.

Keeping the Cost of Student Car Insurance Affordable

Students may tend to pay more for automobile coverage than their older counterparts, but there are many ways that the price of auto insurance for young drivers can be kept at a reasonable rate. Although these younger motorists may not qualify for discounts that more mature motorists may be able to obtain, such as combining an automobile and home policy, they are actually entitled to some discounts that only apply to youths and taking advantage of them can trim a decent amount off of a premium.

One such discount that should definitely be taken advantage of is the "Good student" discount; of course parents always encourage their children to do well in school and a child doing so will not only put a smile on a parent's face, but could potentially save money. Many insurers will reduce premiums for students who maintain a "B" grade point average or higher. In addition, since a student is usually under the age of 25 they can also receive a rate reduction for completing a recognized driver's education course; a combination of the two can lead to significant savings.

Another option which may lead to cheaper car insurance is to compare the price of adding the student to a parent's policy versus obtaining coverage on their own. In many cases this can be far more affordable unless the parent owns a luxury or sports vehicle, which leads to the next point. If possible, younger motorists should avoid purchasing an expensive automobile and take a more economical route; the more it costs to fix or repair a vehicle, the more it will cost to insure. The best bet is to purchase an automobile that will not need comprehensive and collision coverage which can increase premiums dramatically.

Students may be faced with high rates as it is, so there is no reason to add fuel to the fire. Younger drivers should always practice safe driving and obey traffic laws; obtaining traffic citations and/or being involved in an accident will only lead to higher premiums. Additionally, if a 16 year old becomes licensed and maintains a clean driving history for three years they can become eligible for a good driver discount which is usually about 20%; that can make a big difference in price.
Happy student
Student motorists under the age of 25 may have to pay higher rates than older drivers, but quote comparisons, weighing different options and taking advantage of discounts where available can lighten the load on a pocketbook. All options should be explored before settling for an automobile policy to help ensure the best deal is found.

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