If you’re a student looking to buy car insurance, then you may be wondering what questions you need to be asking. This blog includes five points for you to consider when thinking about insurance. Each policy will vary in regards to what they can offer you, we want to help you get the best deal to suit your lifestyle! Are you using your car to commute? Or are you travelling home for holidays?
Questions Students Looking for Car Insurance Need to Ask
1.What Kind of Car Insurance is Necessary for me?
No matter how often you use your car whilst you’re at college, it’s essential to have good car coverage. It’s safe to say you’re going to need something affordable whilst you’re studying. It’s important not to confuse affordable with cheap and limited coverage. If you go for the cheapest option you could be setting yourself up for an expensive pay out if you were in an accident.
We understand you may be a safe driver, but it’s important to consider others on the road to who may not be. Accidents can happen to the safest of drivers due to irresponsible drivers around you.
If you’re a college student the types of coverage you should be looking at for your car insurance are:
- Collision coverage – this is protection for physical damage to your vehicle as a result of a collision.
- Comprehensive coverage – this pays for losses for all types of damage to your vehicle other than a collision, such as theft, fire, vandalism, weather and so on.
- Medical payments coverage – this helps pay for any medical, dental and funeral expenses for you and your passengers, no matter who’s at fault.
- Uninsured motorist coverage – this provides you with protection if you’re in an accident with someone who doesn’t have liability coverage. You’ll also be covered if you’re in an accident with a hit and run driver.
- Underinsured motorist coverage – this provides protection if you’re in an accident with a motorist who is at fault but doesn’t have enough coverage to cover your losses.
Does my Driving Record Affect my Insurance?
The answer is: yes it does! Your driving record will have a massive impact on your car insurance quote. As a young student you’re already classed as high risk. Your insurance premiums will increase if you’ve got a mark on your driving record, such as a speeding ticket. You must try to keep a clean record to get the best rates and avoid spending a fortune.
A good trick of the trade for students trying to keep costs down is to leave your car at home. If you can stay on your parents’ insurance policy then you’ll save yourself thousands. This is the perfect option for students who are only travelling home for the holidays.
You’ll likely be able to stay on your parents’ insurance if you’re under twenty-five and attending college. If your college is far away, it’s likely you can stay on their policy if you’re only using the car for school breaks.
Am I Entitled to Student Discount?
As a student, you may be eligible for certain discounts. It’s your responsibility to ask this when setting up your new insurance policy. Some of the discounts available to students are:
Resident Student Discount
Choosing to leave your car at home and using it only for school breaks is favourable to your insurance company.
This means they’re likely to give you something in return due to the decreased risk of you being in an accident. This is good news for your wallet, it’s a win-win situation!
Early Signing Discount
Being organized and shopping for your insurance before it expires will benefit you. Many insurers like that you’re being proactive and feel you’re more reliable.
Multiple Policy Discount
You may be needing other types of insurance, such as content insurance. If you decide to use the same company for each insurance you’re likely entitled to a discount.
Most Common Discounts Available
- Good student discount
- Safe driver discount
- Pay-in-full or automatic payment discount
- Driving school discount
- Anti-theft discount
- Safety equipment discount
- Data tracking discount
Will my College Location Affect my Insurance?
Your location will be one of the biggest contributing factors to your quote. A rural area will pose less risk, thus a lower rate. If your school is in an urban area or big city then your risk of an accident is much higher. The abundance of cars, people and obstacles, along with the narrow roads, pose a higher risk, meaning higher rates.
This is when decisions need to be made. We advise you gather quotes to cover you leaving your car at home and using it to commute. You can then compare the costs and choose which suits your budget.
How Do I Find the Best Rate?
Many individuals find insurance brokers are the best way to find a rate that suits them. By using brokers you’ll save yourself so much stress. Insurance brokers can search for the ideal policy based on your criteria. They can relay the information back to you and you
can then choose. Make sure you tell your broker what you want them to include and ask questions like those included in this blog.
We understand college is an expensive time. You don’t have the free time to earn a large salary and you need to save money where possible. Make sure you’re getting the most out of the discounts you’re entitled to and get the right coverage. If you don’t you’re at risk of a large pay-out along with your tuition fees.
We can find you the perfect rate to suit your budget while meeting your needs. Get in touch today to speak with one of our brokers!