Juanita Martinez is associated with the AmPmInsure Community and has been offering her suggestion on insurance to the community since 2007. Further, she has also written contributory articles for various financial sites. Some of her articles include “˜Ho3 Policy: An open peril insurance’, “˜Insurance for fire damages’ and “˜Buying life insurance on someone without their consent’.
If you’re a high school or a college student and just bought your first car, you are probably in the market for insurance to cover your vehicle against any sort of damage. Most of the insurance companies consider young drivers to be highly risky, so they charge a higher premium. To go easy on your pocket, you should look for companies which offer affordable auto insurance for students.
How to get low cost car insurance
You may qualify for affordable auto insurance if you meet the criteria outlined below:
- Good grades: You need to have good grades to get a discount on your car insurance premium. Generally, the insurance company considers students with high grades as responsible drivers. You may get a discount of 10% to 15% if you have a GPA of 3.0, average grade of at least B and your name was on the Dean’s List of Honor Roll in the previous semester.
- Use your parent’s policy: Most insurance companies offer discount on multiple vehicles. You may remain as a secondary driver in your parent’s policy and save money. However, this option may vary from one state to another. So you need to speak with your insurance company first.
- Higher deductible: You can choose a higher deductible which in turn reduces your insurance premium amount. If your car is a few years old, going for higher deductible will lower your premium towards collision and comprehensive coverage. But, you have to make sure that you have the deductible amount ready with you, in case you have an accident.
- Avoid high performance cars: You should avoid going for a high performance car, as it will increase your insurance premium amount. If you choose a standard car like a sedan, your premium will be lower.
- Enroll in a driving course: You should get enrolled in a certified driving course to get a discount on your premiums.
- Be a good driver: After driving safely for some days, if you have not met with any accident, haven’t got any ticket and have not violated any traffic rule, you can contact your insurance company to give you discount for being a good and safe driver.
- Low mileage policy: You can ask for a low mileage policy if you drive your car only during the holidays. Insurance companies offer low premiums to students whose car remains on the driveway most of the time. If your school is far from your residence and you need to drive your car to commute to school, you can take a carpool buddy and ask for discount on premiums from your insurance company.
- Have a good credit history: If you have a credit card, make sure to make regular payments so that you have a good credit score. You can also get your credit report from the credit bureaus prior to going to the insurance company, and make sure that all the information stated there is correct. If you find incorrect information, you should notify your creditors and have it corrected. A good credit score will lower your insurance premium.
- Install safety features: You can lower your insurance premium by installing safety features in your car like an anti-theft system, airbags, anti-lock brakes, etc.
You need to be aware of the various types of policies, premiums and coverages offered by different insurance companies. You should also ask them about the discounts offered. Search the internet and choose the company which offers affordable auto insurance so that you don’t pay too much out of pocket.
There are some things can be done to lower the students auto insurance for ex use your parent’s policy,Use your parent’s policy,Avoid high performance cars and by installing some safety features in our car.
These is a great article. If you read it and follow it it could save you lots of money. Shop around and gets lots of quotes.
Thanks.
I've recently read an article stating that students may have chances to get a discount auto insurance only if they have good grades. It makes sense to me at first but then again this too can be arguable. Do you guys know anything about that?
Thank you! Really helpful!
Such car insurance is especially needed if you are driving someone else’s car or a company car. Even driving a car on a loan would be much safer if you have it fully insured. The only car owners that don’t need it, are the ones whose car value is so low, that he or she would lose much more with this kind of auto insurance rather than totaling the car.
When you are shopping for insurance, you should know what you need and what you can afford to pay for. If you drive an old station wagon that is 15 years old, you don’t need as much coverage as someone who is driving a brand new convertible.