Car Insurance for College: What Every Student Needs To Know

Going to college comes with a lot of costs, and you need to carefully monitor your spending if you are going to graduate without a huge and unmanageable amount of debt. There are many ways to save money as a student, and one of the best ways to cut regular costs is by getting a better car insurance deal. Here are some top tips every student should know if they are going to keep the cost of their coverage under control.

Ask Parents Or Grandparents For A Little Help

A student can stay on a parent’s or even a grandparent’s policy if they are comfortable with it. Shared insurance policy payments will increase, but by a much smaller amount than if a student takes on a sole policy. Make sure you shop around together for the best deal that will keep the costs down for both parties. Even if a student does start their own insurance policy, there are still ways to save money.

Remember to search for prices where you will be living. Your college accommodation may be in a different town or state from your university. Students in D.C. or Virginia universities may find their living spaces in Maryland. Look at car insurance policies for Maryland to get the right prices. The Hartford can help you find a quote for a policy in any state, for businesses and the over-50s. Find the best price for Maryland car insurance to help save you money every semester.

Get The Right Level Of Coverage

You might be tempted to only get the most basic insurance coverage possible to save money, but this can be a costly mistake. Young drivers experience more accidents, which is why their insurance costs are a little higher. These accidents are not always their fault, but they can still be left with a big repair bill if they cannot prove an accident was another driver’s fault. You should make sure you have a good level of coverage to avoid big bills later on.

The minimal amount of insurance coverage you should have is for bodily insurance, property damage liability, and collisions. This should help you avoid most costs in the event of an accident. For a higher level of protection against every eventuality, choose comprehensive coverage. This will protect you from the costs of damages caused by severe weather, vandalism, or fire. You should also consider getting mechanical breakdown insurance (MBI) if you are driving a newer car with fewer miles on the odometer.

Install Some Tech That Can Reduce Costs

Some insurance policies will allow you to reduce your monthly or annual costs by installing technology that monitors your driving, or the driving of others. It can be difficult to prove liability in some accidents, and you may be left with a repair bill when an accident was not your fault. Insurers may reduce the cost of your insurance if you install front and rear-facing dash cameras. These can record incidents on the road, and in parking lots, and help prove that another driver was responsible for an accident.

Insurers may also encourage you to install a ‘black box’ to help reduce your insurance costs. These can monitor the number of miles you drive regularly, which can have a massive impact on your costs. The fewer miles you drive, the less likely you are to be in an accident. They will also monitor your speed in the area you are in. If you are a driver that adheres to the speed limits and drives responsibly, this can help push your insurance costs down even further.

Make Extra Savings On The Cost Of Driving

There is a limit to how low you can get your insurance costs. Even if you take all these steps, you can still be left with an expensive regular cost. There are some things you can do to help you reduce your overall costs of driving to help put more money in your pocket while still enjoying having a car and going places with it. The biggest regular cost that comes from driving is the amount you spend at the gas pump unless you drive an electric car.

If you have the option, choose to drive an EV or a hybrid that can drastically reduce your fuel costs. You can also use your car less, especially for short journeys. You could also use other forms of transportation whenever possible to reduce your fuel costs and the chances of you having an accident. Taking the bus or another form of public transportation to classes can save you a lot of money. You could also use a bicycle for a quick trip to the store instead of driving your car.

Follow these top tips and you should be able to make a saving every month, or every year. Reducing the expense of your car insurance puts more money in your pocket to spend on textbooks, meals, or just going out and having some fun with friends.