May 29, 2022
The best car insurance for college students

The best car insurance for college students

 

You’re excited to be going off to college, and the first thing on your mind should be where you’re going to live and what classes you need to take in order to graduate. Unfortunately, though, car insurance may have crept into the back of your mind before anything else did. That’s because driving isn’t just about getting from point A to point B anymore; it also entails accidents, speeding tickets, and other small mishaps that can easily add up over time and raise your insurance costs or make you drop your policy altogether.

Best Insurance For College Students
When you’re a college student, your biggest responsibility is usually going to class—which means leaving your car parked in a lot or parking garage for most of the day. If you live on campus, it may be even more tempting to ditch your vehicle and walk everywhere. But if you move off campus and decide to keep driving, or if you live at home and drive to school every day, auto insurance is something worth considering. The good news? There are several affordable options out there.

Best Car Insurance Companies For Young Drivers
College students may have less driving experience than some older drivers, but that doesn’t mean they don’t deserve quality coverage. Take a look at our rankings of young driver-friendly car insurance companies and see if you agree with our list. There are a lot of factors to consider when choosing an auto insurer, such as how much coverage you need and how much it will cost.

Best Car Insurance Rates For A Student
The main reason you should consider getting a policy that’s tailored to your student demographic is because it will almost always be cheaper than a standard policy. If you have perfect driving records, great grades and are living at home while attending school, chances are you’ll save on car insurance premiums with a customized plan. Allstate offers an exclusive Student Discount Program and many other companies offer plans specifically designed for young adults going to school. These policies generally include

Liability Only vs. Comprehensive & Collision Coverage
Comprehensive and collision coverage are also called full coverage or other than liability coverage. It will pay to repair or replace your vehicle if it is damaged in an accident—regardless of who was at fault. If you have sufficient funds to purchase a replacement vehicle, comprehensive and collision coverage may be unnecessary. There is one caveat: Collision will not pay to repair your vehicle if you are at fault in an accident that causes more than $1,000 in damage.

Finding The Cheapest Auto Insurance Company
Your young age is great news as far as auto insurance rates are concerned. Most companies will offer low rates to young drivers because statistically, they’re much safer on the road than older motorists. You’ll also get a discount if you live at home with your parents, or if you have a parent that regularly drives your vehicle. The key to getting cheap auto insurance is research and comparison shopping.

Discounts Available To College Students
College students can sometimes qualify for discounts on auto-insurance, which are tailored to student drivers. Students that have good grades can often qualify for a discount, while other discounts are available if they meet a certain driver’s ed requirement. Drivers should look around and compare their prices before choosing their plan – as some will be more expensive than others. College students should also keep track of what types of discounts they qualify for, so that when renewal time comes around they’ll know exactly how much they can save.

How to Choose Your Deductible Amount
When choosing your deductible amount, consider how much you can afford to pay if you get into an accident. If you’re just starting out in life and have a low income, it might make sense to go with a higher deductible; however, if your finances are strong, then a lower deductible is probably more beneficial.

How Do I Get My First Car?
If you’re looking to get your first car, but don’t have an established credit history, you may be interested in learning about how to get a cosigner for a loan. A cosigner takes on some of your financial obligations, so lenders will be more likely to approve your application. Talk with your cosigner about whether they’re willing to help out and then apply online or over the phone with a lender who offers loan products that include cosigners.

Don’t Forget About Additional Coverages When You Drive on Campus!
When you’re a student at a university, not only are you paying sky-high tuition prices to earn your degree, but most universities force you to have a school-approved parking pass. So if there’s even one ding on your shiny new Ford Focus, it’s going to cost you a lot more than just replacing that missing hubcap. If your car is damaged by an accident or theft, comprehensive and collision coverage can help keep expenses low.

Conclusion
Most people are confused about their car insurance because they think it’s a one-size-fits-all product. Luckily, auto coverage is customized to fit your individual needs and those of your fellow students. It doesn’t cost anything to call around and get quotes from different providers, so take a few hours out of your day to compare rates and figure out what makes sense for you.

2 thoughts on “The best car insurance for college students

  1. Very interesting info !Perfect just what I was searching for! “If you could choose one characteristic that would get you through life, choose a sense of humor.” by Jennifer Jones.

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