People buy life insurance so they can secure their family’s future if they die prematurely; or in the case of fire insurance, to be able to replace their house if it burns down. But there is one special group that most companies are training their sights on: students. The cost of auto insurance coverage for young drivers is, and always has been, considerably higher than that for other drivers. Why this is so is based on the fact that young drivers are less experienced in driving and consequently have higher risks of getting into accidents. Nevertheless, if you fall under this category, we can tell you how to get the best budget auto insurance coverage.
Where can you find it? Take a look at the advertising sections in newspapers and other publications, or go online. Some companies are offering low-cost car insurance for young women offering extra benefits such as free legal expenses and a replacement car. The question is how do you know if the rates being quoted are really the lowest you can get?
Here’s what to do to make sure you get the cheapest student insurance coverage:
- Some auto insurance companies offer discounts to students who attain a certain level of scholastic achievement. In other words, keep your grades high to keep your premiums low. Having a reasonably good driver’s record as well as safety features on your car such as airbags, safety belts, etc. will also get the insurance provider to give you a lower quote. To be on the safe side, always ask the insurance company any questions you may have about the policy before you sign on the dotted line.
- Shop around. Compare prices not only company to company, but within the same company. The premium sometimes varies when the policy is purchased directly from the insurance company or from an insurance broker or agent. You can get free quotes from individual insurance companies’ websites. There are also websites where you can get free quotes from several auto insurance providers. You will be asked to fill out a simple form online; sometimes all they need is the ZIP code of your residential address or wherever you garage your car. Some insurers will even give you a discount of as much as 10% if you buy the policy on line.
- Young drivers, especially if they are still in school, usually drive less powerful vehicles. If you have this kind of vehicle, you would be charged more for deductibles. This is the minimum amount you have to pay the insurance provider before you can file an insurance claim. With higher deductibles, you can reduce your premiums.