CNBC published a great article this week detailing ways in which students can lower their automobile insurance costs.
Automobile insurance rates for students are typically higher than for your parents. There are good reasons for this; younger drivers tend to get into accidents at a much higher rate than older adults. But rates can be almost double for students and not all students are as risky a bet for insurance companies. There are some ways you can seek better rates.
- Get good grades and then present those to your insurance agent or insurer and request a “good student discount.”
- Consider leaving your car at home. Some insurance companies offer a student-away-at-school discount for those leaving their car at home and attending a school far away, generally of a distance of 100 miles or more. You can still use your care when back at home.
- Bundle your automobile insurance with renter’s insurance. If you live off of campus, you will often be required as part of your lease to have renter’s insurance. You may want to have this type of insurance as well as it covers events like fire and theft. By “bundling” this insurance with your automobile insurance, many companies will offer an overall discount on your insurance bill.
You can read the entire article at CNBC here: https://www.cnbc.com/select/how-to-get-car-insurance-student-discounts/
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