Being a college student is crazy! Between homework, tests, and maybe a part time job, who has time to research student car insurance? Let us do the legwork for you. Here's what you need to know about the key factors that can influence your car insurance as a college student. With this info in hand, you can learn how to cut insurance costs and keep more cash in your pocket. Because, textbooks aren't cheap!
Yes, you could cut car insurance costs in college by...
Rethinking your parking situation
Where do you normally park your car overnight? This is what insurance companies like to call your "garaging address." Drivers with garaging addresses in big cities and urban areas tend to pay more for car insurance than those in rural areas for two reasons:
- Rates of theft and vandalism are often higher in big cities.
- Auto repair and labor costs can be higher.
From a car insurance company's perspective, you're also more likely to need your coverage in the city than in the suburbs/country. There are more cars, more people, and greater chances that something could go wrong on the road! If you live in a major city, parking in a secure, covered garage can help prevent theft or vandalism, as well as investing in a car with the latest anti-theft technology.
Changing up your ride
What do you drive? The car you drive plays a major role in determining if you can get cheap car insurance or not. Newer cars and trucks tend to cost more than older ones to insure, along with sports cars with high performance parts.
We know you may not be able to change the car you drive, but it's worth considering. Could you let your mom or dad drive your sports car while you're in school? And you take their fuel-efficient sedan to campus until graduation? If you can, consider going with a safer car with fewer bells and whistles. It'll pay off in cheap car insurance while you're in college!
Building healthy credit
Many car insurance companies now use your credit score or insurance credit score to help determine your risk-factor as a driver, and to help ensure that you’re not overpaying for your car insurance. However, if you have bad credit or no credit history, you could pay higher premiums for your policy and some companies could choose not to insure you.
Check your credit report to see where you stand. Then, do your best to build strong credit. Pay your bills on time, avoid borrowing the maximum amount on your credit, and don't open a whole bunch of credit cards and accounts at the same time. This could signal to lenders and others that you're headed for financial distress.
Have you ever gotten into a fender bender, only to see your car insurance premium go up when it’s time for renewal? It can happen. If you’ve been convicted of a DUI/DWI or have a driving record that’s filled with serious accidents and a traffic violations, you can usually expect to pay more for student car insurance than another student with a clean record and the same amount of driving experience.
Do your best to drive defensively to avoid trouble on the road. Use public transportation and carpooling when possible, since the less you drive, the fewer chances you have of getting into an accident! Driving less could also help you qualify for a low mileage discount, regardless of your driving history.
Qualifying for a good student discount
The easiest way to save on student car insurance in college? Stay in school! If you live in a state that offers a Good Student Discount, you may qualify if you're unmarried, a full-time student, and maintain a "B" average or better. Put on your learning cap and jot down our tips for qualifying for a good student discount.
Calling Direct Auto for student car insurance
Qualify for a Good Student Discount* with Direct Auto & Life Insurance and you could save up to 10% on your car insurance. Even if you don't qualify for this discount, we may be able to help you find other ways to save. Stop by a Direct Auto location near you or call 1-877-463-4732 today to see how affordable student car insurance can be!
More Tips for College Students on the Road
- Why College Students Need Towing Coverage
- Is "Full Coverage" Car Insurance a Myth?
- Your First Auto Insurance Policy
*Insurance is underwritten or administered by members of the Direct General Group, Nashville, TN and is only offered in states where we are licensed to do business. You can find this information on our website: directgeneral.com. Discounts may only apply to certain coverages and are subject to terms and conditions and may not be available in all states or distribution channels. Price may vary depending on how you buy.