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Car insurance for young drivers can be a major expense for parents as well as their children, especially during the high school and early college years. Finding cheap college student car insurance can be challenging because younger drivers as a group are identified as higher risk than the population at large. The financial impact of higher student car insurance rates can be lessened in a number of ways. Some insurance companies offer discounts that can reduce the cost significantly if certain qualifying conditions are met.
Additionally, by comparing student car insurance quotes online parents and students can find the best rates and most affordable coverage available.
Discounts and Strategies for Lowering Costs
Many companies offer reduced rates on student car insurance for families that insure their other vehicles with the same company. A good student discount may also apply for students who maintain a high grade point average. Students who take a certified driver education course may also qualify for discounts on their auto insurance. Depending on the age and condition of the vehicle, it may be possible to maintain liability-only coverage in order to further reduce costs. This is not recommended for newer cars or cars that are still being paid off, since financing companies typically will not allow borrowers to drop comprehensive or collision insurance on vehicles still under lien. Increasing the deductible amount can also reduce the monthly premiums.
Another strategy for finding cheap student car insurance is by researching and comparing costs and coverage provided by various companies through online student car insurance quote sites. These sites typically offer basic information on premiums and terms and can sometimes allow direct comparisons of available policies from various insurance companies. By using this information as a starting point for the search, parents and students can often find better rates and more cheap car insurance rates from reputable companies. These tips can also be used when you are looking for car insurance for young women.
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