Cheap Car Insurance For Students - Is There Such A Thing?
As someone who’s in school and on a tight budget, you’re probably looking for ways to save money. That’s why it might surprise you to learn that student insurance rates are among the highest of all car insurance policies. It doesn't matter if you're a high school student or in college. The reason is because teens and young adults make up the largest demographic of drivers without having much driving experience. So, when they get behind the wheel, accidents are more likely to happen.
That’s why it’s important to be diligent when looking for a car insurance policy that fits your budget. You don't want to end up paying more than you need or putting yourself in danger by driving around with an older driver who has a history of accidents. Here are two tips that should help you find a cheap student car insurance policy.
Getting quotes online is cheaper than going to a physical office because:
You can find out how much you would pay for different types of policies and what kinds of discounts are available. You can get quotes from multiple companies instead of just one, which makes comparing rates easier.
After you get a few quotes, make sure you compare the coverage each policy offers. If you're looking for full coverage car insurance for students , there are a lot of options to choose from. This article gives examples of how to find auto insurance that's a good fit for your needs.
Protect Your Teenager with Full Coverage Car Insurance
Cheap car insurance - If your teen has just started driving, they need full coverage protection against lawsuits and injuries. This type of coverage is usually a combination of bodily injury and property damage liability, uninsured motorist coverage, personal injury protection, medical payments coverage and physical damage coverage.
You can get a quote for car insurance with the right combination of coverage options by using an online tool from the Insurance Information Institute . The site will give you a quote for liability-only, which doesn't protect you against lawsuits or your own injuries.
If you decide to go with full coverage car insurance for students , make sure your teen has these options:
Collision - If your teenager wraps their car around a tree or hits another vehicle head on in an accident (without insurance), it's likely that their provider won't cover getting it fixed. This doesn't mean they don't have a claim and can't get reimbursed. However, if the accident involves a tree with branches or other parts that are designed to carry weight and do damage, your teen's car insurance company may not cover the repairs.
Comprehensive - This is the main type of coverage you'll find on student car insurance policies. It covers damage to your vehicle from things like fire, theft, vandalism and running into something with their car. You can get full coverage car insurance for students that protects you against expensive repairs if your teen hits another vehicle or breaks down in an unfamiliar area without knowing how to fix it.
Personal Injury Protection Supplement - This is also known as PIP or medical payments coverage. The best car insurance for students with serious injuries have this kind of protection. That way, they won't have to worry about paying for a car accident that was their fault. Some basic policies may include $2,500 to $5,000 in PIP coverage. If your teen has an expensive vehicle or is looking for the best car insurance companies , they may need more than that.
Filing Your Claim
The hardest part about filing a claim comes from waiting for the money to come through from your auto insurance company. That's why it's good to know about the other options you have that can take some of the stress out of this process.
Performing your own repairs - If your teen gets into a fender bender with their car, you don't always have to send it back to the auto body shop for repairs. You can take on these tasks yourself or hire a friend or family member who has experience with cars and auto body repair. Just make sure you get permission from your insurance company first before disassembling and repairing any part of the car.
Taking advantage of safe driver discounts - Some insurance companies will give incentives to drivers who've been on the road for three years or more without any accidents or violations reported to their companies. You can also find discounts for taking a course that tests your driving skills, having an alarm or security system on your car, or putting a restrictor on your vehicle so it can't go more than 25 mph.
Getting cheaper student car insurance - If you've been driving for less than three years without any accidents and violations on your record, getting cheaper student car insurance policies may be difficult to find. In this case, try asking a parent who has an auto insurance company to get an idea of what kind of discounts they offer their members. You'll also want to look at getting multiple quotes from other companies and see if anyone's offering a better deal with fewer restrictions on the types of coverage options included in the policy.
Other ways to save money on car insurance for students
A personal accident protection (PIP) is the same as full coverage car insurance except that it doesn't pay for your injuries. Instead, it pays damages you may sustain if you're hurt in an accident, including medical and lost wages. This type of coverage comes at a premium price but there are things to consider before you decide whether or not this extra protection is worth it.
If your teen has medical expenses that exceed $750 as a result of accidents they've been in, talk to them about doing their best not to have any more accidents after they get their license. Another option is to purchase a PIP policy that offers $5,000 in coverage instead of the standard $2,500. This may be affordable if your teen only has liability insurance on their vehicle and they can cover the difference out of pocket between claims from the two policies. You may also want to consider raising your deductible from $500 to $1000.
The final way to save money on car insurance for students is by getting multiple quotes from different companies and comparing rates. Most companies will offer several ways you can talk with them about your medical history and driving record before you agree to sign up for their policy. Make sure you reflect these major changes in all companies' quotes before you agree to one provider's quote over others'.
Conclusion: How to Compare Car Insurance for Students
When your teenager first gets their license, they can be more of a risk to insurers because they have fewer years on the road and may not have their full driving history. That's why you'll want to compare car insurance for students before you agree to one company over others.
When comparing car insurance rates, it's also important not to overlook the coverage options included in each plan. You might think you don't need some of these features like insuring yourself against lawsuits or paying for a rental vehicle if yours is being repaired after an accident. In reality, these types of policies can save you a lot of time money in the future.