If you have a student driver, you may be able to lower your car insurance rates. Typically, a student or younger driver means the insurance company will raise your rates. However, there are a few steps you can take to help lower your insurance premium if you have a student driver.
First, it helps to understand why insurance companies charge more for students. First, teens and student drivers have less experience behind the wheel. The number one cause of death among teen drivers is car accidents. Car insurance premiums may also seem higher to a student with less money. You may be able to find a lower rate for car insurance for students if you shop around. Following the tips below can also help.
Most car insurance companies offer significant discounts for students with good grades. The discount is usually available even for college students until age 25.
If a student has a clean driving record – no tickets, accidents or other issues – it may help reduce the insurance premium.
Defensive Driving Class
If the student takes a defensive driving class it can help reduce car insurance rates.
A student can lower their insurance rates if they can stay on their parents’ policy. Most of the time a student may remain on their parents’ policy until they permanently move out of their parents’ home. Living away at college is usually considered a temporary residence.
If the student drives a vehicle with an anti-theft device, chances are the insurance company will give them a discount on their car insurance. Students should inform their car insurance company if they move away to college so the company knows where the car is located. This may impact their monthly insurance premiums.
If the student is not taking their car with them to college, their annual mileage will be significantly lower and this may help reduce their insurance premiums. If they do take their car to school with them, they should try and estimate how many miles they will drive every year. If their mileage is going to go up, they may want to consider raising their auto insurance coverage.
When it comes to car insurance for students, good grades, a good driving history, and driving fewer miles can help keep car insurance premiums low. It also helps to shop around and compare quotes from several companies.Car Insurance For Students – Tips For Reducing Monthly Premiums
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