Can Students Get Affordable Car Insurance?
Reader’s Question:
I’m 18 and I’m moving out of my parents’ home in a few months. I don’t earn a lot and I’m still in college so I need to know if there is any chance I can get a cheap car insurance policy for a car I’m planning to buy. Any tips?
Essence
Cleveland, OH
Getting cheap car insurance for a teenager won’t be easy, but it is definitely worth the effort. There are ways to maximize your ability to get the most affordable coverage and there are certainly a lot of things you can do to keep it that way for a long time. Here are some excellent tips to get you started:
1. Be a Safe Driver - Teens (in general) have a very high tendency to get into car accidents. Take a defensive driving course that will teach your to better avoid collisions and will also entitle you for some discounts. Speaking of discounts…
2. Be Aware of Discounts – Insurers today offer a lot of discounts and it will be worth your time to find out which ones you qualify for. Always ask about discount options.
3. Compare Rates Effectively – Use car insurance comparison websites (like this one) to get free rate quotes and be able to compare deals and insurers effectively. You can save time and increase your chances of finding the best offers out there.
4. Streamline Your Policy – Study your policy well and find out which coverage you can do without. If you drive an old car you may not need as much (or any) comprehensive coverage.
5. Get a Vehicle with an Excellent Safety-Rating – the Insurance Institute for Highway Safety (IIHS) website is an excellent place to find out which cars have the best (and worst) safety ratings. The safer the vehicle, the lower the rates.
6. Pay Annually – Monthly billing can be more expensive for you in the long run. If you can afford to pay annually or semi-annually in advance, do so. Insurers usually give discounts or lowered rates which can give you as much as 20% in savings.
7. Maintain Good Credit – Someone with excellent credit is also seen as a responsible driver by insurers. Take care of your credit to ensure you get affordable rates.
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