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Auto Insurance Savings Tips for Students – TOP 5 Tips

Auto Insurance Savings Tips for Students – TOP 5 Tips

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how to save on auto insurance, save auto insurance, save on auto insurance, auto insurance savings, direct auto insurance, direct insurance
how to save on auto insurance, save auto insurance, save on auto insurance, auto insurance savings, direct auto insurance, direct insurance

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Published by: essaytask on Dec 02, 2011
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Auto Insurance Savings Tips for Students – TOP 5 Tips

Did you ever wonder how insurance companies go about determining how much to charge for an auto insurance premium? There are lots of factors that come into play; some of them being a good driving record, how long you’ve had your driver’s license, and how far you travel to work or school each day. If you’re a college student, or even a college graduate, there are other factors an insurance company will use to determine your insurance premiums, too; the main one being your young age.

The Age Factor

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Drivers who are 25 years of age and younger are considered to be high risk drivers, and are therefore charged more for insurance coverage than other age groups. Statistics have long proven that teenage and college-aged drivers are more likely to get into an automobile accident. This is mostly due to poor decision making, and inexperience on their part. There’s really no way around being charged a higher premium when compared to other drivers, but there are ways to keep your premiums as low as possible. Whether you acquire your insurance through an insurance agent or if you purchase direct insurance, there are a few things you can do to reduce your premiums.

5 Tips for Insurance Savings for Students & Grads 1. Choose a higher deductible
Most insurance companies will reduce your premium if you choose a higher deductible amount. Choose the highest deductible you can, but be sure to put away some money to cover it so you’ll have it if the need arises.

2. Don’t over insure your Junker

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If your car is a clunker you can skip the collision insurance coverage as long as there is no bank loan on it. If your car’s book value is less than $3,000.00, save yourself some money and don’t bother with collision coverage.

3. Keep those grades up
That’s right. Many insurance companies will give a discount on your auto insurance premium if you have good grades in school. I know, I know, another reason to study your brains out, but this reason can save you some money!

4. Choose a car that has a high safety rating
SUV’s and sports cars cost more to insure than sedan-style cars; as do 2-door cars verses 4-door cars. Shop around and buy something that isn’t so expensive to insure. Many of the smaller 4-door cars are good on gas, and you can add a spoiler on the back or sporty tires to give it that souped-up look.

5. Shop around

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Purchasing direct auto insurance can save you money also. Shop around and see what sort of quotes are out there. Once you’ve gotten some data to work with, see what works for you and your budget. It may be a little time consuming but the ultimate savings you can make is well worth all that effort.

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