Car Insurance for College Students

Posted in Automobile on Dec 20th, 2011

Affording college tuition can be difficult enough without having to worry about other bills such as rent, utilities, and insurance. The cost of driving can be overwhelming for many student budgets, once you figure up costs such as the car payment, insurance, gas, and maintenance on the vehicle. There are some ways to cut corners on costs, however.

Check with several different insurance providers for quotes on car insurance rates. Premiums can vary considerably between providers. Also make sure to accurately state the number of miles you drive, because this can impact your rate. If you live close to campus, you might walk to class a lot, and this reduces the number of miles you actually drive per day.

Remember that many car insurance providers offer a discount for maintaining good grades.  Earning a high GPA can benefit you by lowering the cost of your car insurance. Also, if you took a driver’s education class in high school, make sure to tell your insurance provider. There is often a discount for this as well.

Speeding tickets and other traffic infractions will increase the cost of your car insurance considerably. It literally pays to be a careful driver. Too many tickets can actually increase your car insurance premium to the point you can’t afford it anymore, not to mention the cost of paying the tickets as well. If you do get a speeding ticket, go to court and ask about doing community service in exchange for having the infraction dropped off your record. The judge will not do this if you have multiple offenses, but often will do it for your first ticket. Remember, also, that even one DUI can increase your insurance rate dramatically, and even cause your provider to drop your coverage. Don’t ever drive if you’ve been drinking, because the ramifications can seriously impact your life personally and financially.

Finally, remember there is a discount for paying all of your car insurance up front, usually six months’ worth of payments. If you can time your policy renewal to coincide with the start of the semester, you can use your financial aid to pay your bill in full and save a bit of money.