Affordable New Auto Insurance for College Students

Beginning college is a great milestone. It can be a great expense as well. Fortunately, as a student, you don’t have to pay outrageous premiums for a new auto insurance policy. You can expect to pay a little more for coverage than someone over 25, but there are still ways to lower your payments.

Great Student Discounts for New Auto Insurance

Who doesn’t like getting discounts, especially on new auto insurance? Students can reap the benefits of multiple discounts that are available to them, including:

• Good grades
• Driving carefully
• Low mileage or carpooling
• Taking a safety course

An added incentive for achieving excellent grades is getting a good student discount. Auto insurance companies consider students who do well in school more likely to drive well on the road. To qualify for a good student discount, you must meet the following standards:

• Maintain a GPA of 3.0 or higher
• Have a B average or better
• Made Dean’s List from the previous semester
• In the top 20 percentile of the class

In addition to maintaining decent grades, being a safe driver can reduce rates on new auto insurance policies. By steering clear of traffic tickets and avoiding accidents, over time you will be considered a low-risk driver. And since you are already taking classes, why not also take a driver safety course? Auto insurance companies typically give discounts to drivers who have attended a driver’s education class.

Do you live on campus and generally drive only to see your parents on weekends? Most insurance companies offer a low mileage discount on new auto insurance owners who have short commutes or don’t drive frequently. Live at home and commute daily? You may still be able to get the low mileage discount if you carpool with someone.

More Ways to Save on Your New Auto Insurance

So you typically spend more time partying than studying and don’t exactly have a clean driving record. Hope is not lost. There are still opportunities for students to save on their new auto insurance.

• Get on your parents’ insurance
• Maintain positive credit history
• Consider your vehicle purchase

One way you may be able to have a lower rate on your new auto insurance is by asking mom and dad to keep you on theirs. It isn’t always cheaper to go this route depending on certain situations; so find out by checking quotes you get from other insurance companies.

It can be very difficult for a student just starting college to have a great credit score. It’s tempting when you start out on your own to buy nice things for your pad and max out your credit card. However, you don’t want to ruin the little credit you do have. Staying mindful of your spending and paying your credit card bills on time could save you more than you think. Some insurance companies charge more for new auto insurance owners with bad credit. Not to mention, that paying your bills on time can save more by avoiding late fees and increased APRs.

When shopping for your vehicle, remember what you will be paying for your new auto insurance. Consider a small or midsized family vehicle instead of a sports car. By opting for an economy car, you are more likely to have lower rates and save more in gas. That’s definitely worth considering if you will have a long commute.

You already know it pays to stay in school. Save on your new auto insurance while receiving an education. Aside from the occasional all-nighters, what’s there not to like?