Students do have many reasons to spend a lot of money and it is unfair to burden them with a high cost of insurance premiums but nevertheless, the insurance companies justify their stand by saying that students tend to travel more and hence are liable to incur high car insurance costs. But the fact remains that the student car insurance cost is quite high and there are many ways to minimize this cost.
Primarily, a student can opt for a small car instead of a sports car to reduce the premium amount to be paid. There are many online insurers, who trade online and the biggest savings on student car insurance can be made by comparing the various quotes on different sites offered by different companies. There are brokers too, who help in this regard but charge a fee for it.
There are certain sites that work especially for students and young drivers and offer discounts and incentives to buy from them. The type of car insurance that the student has to take, has to be decided first and it is a good choice to take third party insurance. Comprehensive coverage is not recommended for students as the insurance prices would be too high.
If security devices are installed in the car, like wheel and steering locks and windows having registration, anti braking systems, air bags, reinforced safety belts and so on, then, the cost of student car insurance can be reduced. In fact, the place where the car is kept also influences the cost of student car insurance and it is better to mention in the application if the car is to be kept in the campus with security.
Students who have passed an extended and advanced driving course are eligible for a reduced premium than those who have passed only their driving test. This would fetch them an added discount of five percent till they reach the age of twenty five. There are online driver education courses that would cost only half the amount of offline classes.
Though it is a subject of argument , the fact remains that the student who does his or her academics well in school is less prone to get into a car accident and hence is offered a student discount -as much as twenty percent of the premium-depending upon the grades in school.
The insurance premium of car is priced according to what is known as risk profile of the geographic area, where the car will be driven. If the student possesses a good driving record, the chances are high that he gets a cheap car insurance. Also, having a high deductible would save on the premium and the deductible that suits the budget can be chosen.