Going To College? Save Money On Car Insurance

Doodled DesksWith young students heading to college, the burden of educational and other costs on the family budget can be heavy, especially in this time of world financial upheaval. Adding a vehicle to the expense of sending a child to college can cause even more financial stress on the family.

There are; however, ways a student can help cut the financial responsibilities to the family budget.

  • Knowing exactly how much insurance coverage is needed is one good start. Dropping unneeded coverage can help lower the insurance cost, different cars can subsist under different insurance amounts.
  • A less expensive vehicle can mean less on insurance rates due to the cost of repair or replacement.

With an older car, you may want to leave off the comprehensive and collision coverage as the repair or replacement of the car would negate any value achieved in that sort of coverage. The general practice is that cars with a value worth under $3,000.00 would not be money smart to insure with comprehensive or collision.

Money can be saved by adding the young driver to the family insurance rather than having a separate policy specifically for that individual.

The way an insurance company looks at it, an inexperienced driver living with experienced driver parents are much less of a risk for an accident. Keeping the driving record clean and the grade point average high can also have a strong effect on insurance premiums.

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