Perfect Hints On How To Buy Car Insurance For Students
The first car is often a long-awaited event for young people, which marks a further step into adulthood. At the same time with adulthood comes responsibility. To drive a car, you need to purchase car insurance, which is more expensive for young drivers. This is because young people are more risky drivers and do not have enough experience to drive safely, and they are also more prone to risky behavior on the road. In this regard, annually in the United States about a million young people become participants in road accidents. This is the reason for high insurance rates for young drivers, but there are ways to reduce the cost of insurance for you, especially if you are a student.
Insurance companies offer discounts on insurance for young drivers who have a high GPA. They probably believe that those who are responsible for learning are same responsible for driving a car. In addition, students who study well spend more time at home studying and are less likely to drive drunk after parties. So, good grades are your chance to get cheaper insurance.
Take a driver course
Even if your state does not require additional education for drivers, you, as a young driver, can significantly reduce the cost of car insurance by passing such training. This is especially true for teenagers. By spending few hours a week going through driving courses to gain your skills, can end up saving a few hundred dollars, which will be very useful for the high cost of insurance.
Choose an old car and drive like an old
Give preference to the old low-cost reliable brands when choosing a car. This car will be cheaper not only by itself, but also significantly reduce the size of the insurance rate. Of course, the 10-20 year old Japanese compact car is not as attractive as the new sports car, but in terms of economy it is much more attractive. You should also turn into a pensioner at the wheel when you drive such a car. Insurers will appreciate this when you buy car insurance for students next time.
Increase insurance deductible
The deductible determines that part of the costs in case of an insured event that you will pay from your own pocket. The higher deductible, the bigger part of repairs cost, medical care and other expenses you will pay in case of an accident. At the same time, the higher deductible is, the less insurance will cost you. If you stick to the previous rule and drive slowly and carefully, the probability of getting into a road accident and being its culprit is greatly reduced.
Choose Go Green
Cars with environmental technologies are accepted by insurance companies as a safer option for driving. On most of them, it is much more difficult to exceed the set speed limit than ordinary cars with fuel engines. In addition, these are usually modern cars equipped with all modern amenities and technologies. It is much more convenient to use such cars than old clunkers without GPS, Bluetooth, USB and other modern technologies.
Use long distance
When you leave your home for a long time and leave your car there, let your insurance agent know about this. For example, when you are a student studying in college far from home, you leave your car for a long time and do not use it. This will also have a positive effect on the cost of insurance, which is noticeably reduced if you use your car not so often.
Allow the insurer to track your driving habits
If the insurance company installs a sensor in your car that tracks your driving style, then you will get a big discount on car insurance. This system will track various parameters of your driving. Days of the week on which you drive, speed of movement, manner of braking and other parameters.
You can combine your policy with the policy of your teen child. So you will receive a discount for the purchase of a multi-user insurance plan. It will be much more profitable for you than buying a separate insurance for your child. In addition, in order to save on insurance for a young driver, you can use the opportunity to add your teenager to the family insurance policy, as an additional driver on one of your cars. Of course, for this you should choose the cheapest and the oldest car. This will greatly reduce the cost of car insurance for students compared to buying a separate policy.
Now you know what methods exist to reduce the cost of car insurance for students. You can use them to improve your financial situation, as well as many others that you can read about in our financial blog.