How to save money on your car insurance if you're a student.
Car insurance can seem ridiculously expensive at a time when saving money is essential, especially as insurance premiums tend to be higher for those (especially males) under 25. This is because individuals in this age group are statistically more likely to make a costly claim on their insurance than any other age group. Car insurance is however, required by law and the consequences (not to mention cost) of not being insured are much greater than the cost of any premium.
If you are moving away from home to attend college or university, it is essential to get student car insurance that will cover you and your car whether you are away studying or home for the holidays. Although this could result in slightly more expensive premiums, especially if you are moving from a relatively rural area to a city where, because of the increased crime levels and congestion claim levels are higher, it is well worth it. If you do not inform your insurance provider that you (and your car) will be spending time living away from home and you need to make a claim the insurance company could refuse to pay out.
There are several factors that can reduce your car insurance premium, for instance by choosing 3rd party, fire and theft or simply 3rd party cover, your premium is likely to be much lower than if you go for comprehensive cover, however do bear in mind that you will then have a lower level of cover. Additionally, several student insurance companies offer discounts to individuals who have completed Pass Plus and it is possible to begin building up a no claims discount as soon as you have your own insurance, some companies even offer fast track no claims.
Where you keep your car whilst living away from home will also impact the premium, if it is possible to keep your car in a garage or on a private driveway, your premium should be less than if you were to store your car on a main road. Additionally, the type of car you drive will also have an effect, as cars with larger engines are more expensive to insure. Having a good alarm system installed (check with insurance companies to see which they recommend) could help to reduce the premium and would be particularly beneficial if you are moving to a city area.
By comparing quotes from several different providers, you should find a suitable student car insurance that offers comprehensive cover for your car at university and at home at a price that doesn?t break the bank.
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