In addition to basic education, college students have the right to acquire driving skills. There are even special training programs for them. However, acquiring such knowledge can be quite expensive. This is due to the need to buy student car insurance, the cost of which is high. This is not surprising, because insurance companies consider students a high-risk group and thus reduce their financial burden.
According to Market Watch 1https://www.marketwatch.com/guides/insurance-services/best-car-insurance-for-college-students/, the average cost of student auto insurance for drivers aged 18 is $4,958. This is a significant amount that can significantly affect the family budget. This situation is the reason why parents and students are interested in how to find affordable car insurance for college students according to their requests. Following a few guidelines can simplify the task, which can be complicated. We suggest you learn how to save money on car insurance and what you should pay attention to.
Source: Value Penguin
Using the Benefits of the Telematics Program
Each insurance company needs to have confirmation that the student is responsible for the driving process and obeys the rules of the road. In this case, they can provide financial privileges. A key aspect in this situation is the ability to check the driving style.
For this, insurance companies offer students to install special telematic applications. These are convenient mobile applications that have built-in GPS support. They can collect various data about driving, including the frequency of mobile device use, the force of acceleration and braking, as well as indicators of the speed at which the vehicle usually travels.
Using such a program will help save on auto insurance for college students only if the student strictly follows the established rules and prioritizes safe driving. Otherwise, telematics applications can cause auto insurance rates to rise.
Comparison of Insurance Policies of Different Companies
This is a universal and proven method that allows you to find the best college student auto insurance, as well as other drivers. The essence of the method is very simple. You need to search for offers from several insurance companies that offer the best insurance for students at once. This can be done independently, through a usual search in the browser, or on specialized services.
The first method may take more time but it will be more effective. After all, you can get up-to-date numbers by looking at the information directly on the insurance companies websites. If questions arise, you can always find a valid phone number, e-mail, or form for communicating with an insurance agent on web resources.
After studying all the presented data, tariffs, and conditions, as well as, if necessary, receiving advice, you can compare the offers. In the process, several factors should be taken into account: the size of the franchise, terms, conditions, cost, and the possibility of additional options and discounts. In this way, you will be able to choose the best car insurance for students at an affordable price.
Adjusting the Coverage Size
One of the effective ways to reduce the cost of car insurance for students can be to change certain parameters. The table describes the main options.
| Rejection of unnecessary coverage | When choosing cheap insurance for college students, it is worth reviewing existing types of coverage. Some of them may no longer be needed because the reason or risks have disappeared. For example, the car loan has been paid off, so the corresponding insurance makes no sense. |
|---|---|
| Increasing the franchise | By increasing the amount of this item, you reduce the financial burden for the insurer. That is why the company can provide the cheapest auto insurance for students. The ability to pay such a large amount must, however, be considered when selecting this option. |
When choosing one of the presented solutions, it is also worth taking into account the increased probability of a road accident. After all, teenagers are a high-risk group and often get into such situations. Considering this circumstance, it is worth leaving the covers that directly relate to these cases.
Search for Good Offers and Discounts
Dozens of different insurance companies operate on the market. There is always healthy competition between them, so every organization tries to gain a competitive advantage. Sometimes insurers use discount programs or promotional offers for this. Among them, you can highlight:
- Discounts for members of organizations: These are groups of graduates (car insurance for college graduates), sororities, thematic groups, fraternities, and other student organizations.
- Discount for good driving: You can get the cheapest car insurance for a student by demonstrating excellent driving skills. To take advantage of the discount, you need to avoid speeding fines and avoid accidents for a certain time.
- Multi-Car Insurance Discount: Insurance companies may offer one policy for multiple cars.
In addition, cheap student car insurance can be obtained by combining several types of coverage. For example, you can add life insurance or other insurance products to the policy. In this case, you can count on a significant discount.
Attending Special Driving Courses
Some insurance companies offer financial incentives for taking approved driver education programs or defensive driving courses. This allows you to improve your driving skills and reduce the likelihood of getting into an accident. This is beneficial for the insurance company because financial risks are automatically reduced, so there is a high probability of providing cheaper student car insurance.
Getting Good Grades in College
Excellent studies can also be a reason to reduce the cost of car insurance for students. Insurance companies believe that good behavior and good grades are a sign that a person is likely to follow the rules. Accordingly, this situation will also be observed while driving, which is why organizations offer student discounts on car insurance and favorable offers.
Insurance companies must have different conditions. For example, a student needs to be in the top 20% of students in his class. Another common requirement is a 3.0 GPA or B-level average. You should contact the insurance company directly to find out the exact terms and conditions of the discount for good grades. They may also issue additional requests.
Discounts for Students Who Rarely Drive
Students often have such situations when they study in another area and leave their cars at home. In this case, the vehicle is not used often, so the risk of getting into an accident is reduced. This fact can be taken into account by insurance companies to provide cheaper car insurance for college students away from home.
If the organization is convinced that the situation is taking place, then it can allow the exclusion of the teenager's insurance from the parent's policy for the period of the study. In addition, a student can get cheap car insurance for students for trips to another area.
Adding a Student to a Family Policy
American law allows students to remain on their parent's policy until they reach the age of 26. This option provides a reduction in the total cost of car insurance and savings for a teenager for a certain time. This solution is especially beneficial if the parents have good driving experience. In this case, you can apply for significant discounts.
Conclusions
Auto insurance student is one of the factors that can significantly affect the budget. After all, young drivers have less experience and are more prone to impulsive actions, so they are in the high-risk category. However, costs for this item can be reduced. For this, it is enough to contact the insurance company and inquire about the availability of discounts for excellent education, good driving, and taking special courses. In addition, you can consider adding a student to the parent's policy and other profitable solutions.
Additional resources and citations
- 1https://www.marketwatch.com/guides/insurance-services/best-car-insurance-for-college-students/
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