How to Save Money on Student Auto Insurance

As a young driver, a student will typically pay a lot of their car insurance. Teen drivers are inexperienced and insurance see them as higher risk drivers. Unfortunately, most students end up paying a higher auto insurance rate until they reach the age of 25. Despite this, there are lots of different ways that a student can save on their auto insurance.

Are you a good student? Most car insurance companies offer a good student discount for students with a B average or better in school. The insurance company normally asks the driver to send in proof, so be prepared to send in a copy of a report card or a transcript. The good student discount could save you $20 or more every month.

Are you on your parent’s auto insurance policy? Once you reach the age of 18 you might decide that you want to get your own policy, but that isn’t always the best idea. Student and teen insurance rates are usually lower if they are on their parent’s policy. You could offer to pay your parents for your part of the policy and keep a lower rate than if you were on your own.

What kind of car do you drive? The make and model of vehicle is a huge influence on a student driver’s auto insurance rate. Does your car have good safety features such as front airbags, side airbags, an alarm system, or anti-lock brakes? Any features that prevent theft and reduce damage in an accident lower your risk to insure as well as your auto insurance premium. Also, avoid sports cars because they have a very high risk of getting in to an accident especially among young drivers, and auto insurance companies have been known to charge outrageous rates for teens that drive them.

The best thing a student can do to save money on their auto insurance is compare quotes from multiple insurance companies. After comparing quotes from 3+ companies, you might find that there is one company that is much cheaper than all the rest. If you settle for the first company that you get a quote from, you could be way overpaying.