15 August 2016
Is It Possible for College Students to Save on Car Insurance?
Learning to drive is a very exciting experience for most teens. While it’s also nerve-wracking at times, the freedom that goes along with being able to drive is generally a big enough motivator to keep new drivers on track until they officially get their license. Receiving a driver’s license often comes with big dreams about all the new possibilities that will be opened up. However, that excitement is commonly tempered when teens realize the full scope of costs that go along with driving.
In addition to the cost of a vehicle, there’s also gas. And even though we’re currently in a period where gas prices aren’t too bad, what catches many new drivers by surprise is the cost of auto insurance. This is especially true in the state of Ohio, which TheStreet ranked as the fifth most expensive state for insuring teen drivers. Their data shows an average premium increase of 100.17% for adding a teen driver.
Another interesting aspect of being a young driver in Cincinnati or anywhere else in Ohio is you don’t get a full driver’s license until 18. That’s why the experience of getting a full license and starting college are quite close for many teens throughout the state. Because college presents a whole other level of expenses, we want to dig into if there’s any way for a member of this age group to cut down their car insurance costs.
3 Tips to Help College Students Save On Their Car Insurance
The first tip for saving on insurance for your car is being aware of the impact that different makes and models have on insurance rates. Although a college driver may not have much control over which vehicle they end up with, it’s definitely worth looking up a list of the cheapest cars to insure (along with the most expensive ones). Vehicles with certain safety features can also noticeably reduce rates.
Our second tip is that major rate breaks really don’t happen until 25. But don’t take that as bad news. It simply means that instead of a student trying to look for their own insurance, the best strategy may be for a student’s parents to compare policies and then add their child to the one they choose.
Another tip that will directly apply to college students is the discounts providers often make available for some version of being a “good student.” We regularly speak to car owners who didn’t even realize this type of discount was available with their policy, which is why it never hurts to ask!
If you have any additional questions about this topic or would like to take advantage of our expertise to get the auto insurance coverage you need at the best possible rate, don’t hesitate to get in touch with us.