If you are a college student, you aren’t going to have a ton of money laying around. There are a ton of things to pay for just to live day to day, and you have to pay for books and other college expenses. Combine that with the fact there is little time to earn money through a job, and it is easy to see why a college student wouldn’t have much money for car insurance. However, there are still ways you can get an affordable policy as a college student.
Get On Your Parents Policy
One of the easiest ways to save money is to stay on your parents policy. Using your parents good driving record, and the lower rate they pay, you can save money on your car insurance. You can stay on your parents policy as long as they will have you, so take advantage of that great opportunity to save money.
Good Student Discounts
Check with your insurer about a good student discount. Most car insurance companies will allow you to take 10-20 percent off your premium for having good grades. It is an easy way to combine your love of doing well in school with your love of saving money on your insurance bills.
Up Your Deductible
If you are willing to take on a large deductible, you can save money on your car insurance. Say your deductible is 1,000 dollars, you will be responsible for the first 1,000 dollars of damage. Since the insurance company is not on the hook for as much of the damage, they will be willing to lower your premium. If you car is an older one, getting rid of collision insurance could be a good way to save as well.
Keep Your Credit Score Up
Did you know that your credit score can impact your insurance premium? Having a better credit score will allow you to have a cheaper premium. This is something to think about when you go to fill out a credit application on campus. Not paying your bills can impact something as small as your car insurance.
Take Driving Courses
Taking a course such as defensive driving can not only take points off your license, but it can also lead to a 10 percent discount on your car insurance. Not only will you be a safer driver, but you will be cheaper to insure at the same time.
Pay In Full
Paying your policy in full will allow you to save money on your premium. There are usually fees associated with installment payments, but paying in full will eliminate those fees and save you money every six months. It is something to consider if you want a lower priced premium.
If you are a college student looking for a good policy at a low price, these tips will help you out. Keeping your credit score and grades up will keep your policy costs lower in the long run. Everyone loves to save money, so why not try to save on your insurance policy.
