Students who are under the age of 18 must be listed on the insurance of an older driver. Once they have turned 18, the student can purchase their own car insurance policy, but the best route is to remain on their parentâ€™s insurance for as long as possible. Insurance companies will allow you to be covered by your parentâ€™s insurance until the age of 25 as long as you live at home or are enrolled in a full time college curriculum.
Because drivers under the age of 25 are the highest risk group of people driving cars, it can be cost prohibitive for a student to purchase their own insurance policy. Instead, adding them to the parentâ€™s policy will save a great deal of money on premiums. If the student is driving an older car that is paid for, you can save money by dropping the collision coverage and raising the deductible as high as you are able to afford.
Students can help save money on car insurance by maintaining a 3.0 grade point average in school. They can also enroll in a driver safety course and use the certificate of completion to get another discount. Maintaining a good credit score, even as a student, is regarded as a sign of a responsible person and insurance premiums are lower for people who keep their credit score healthy.
A car with built-in safety devices can also equate to saving money on car insurance. Electronic Stability Control, anti-lock brakes and side impact are all recognized by most insurance companies as tools that reduce risk. You can even get a discount for installing anti-theft devices or driving a car that offers hands-free radio and communications.
Getting cheap insurance for a student is difficult at best, but you can increase the chances of finding affordable coverage by shopping online. Online insurance quotes will compare the policy you design between multiple insurance companies, giving you the opportunity to choose the most stable company with the best coverage and rates. It is never a good idea to skimp on insurance coverage, but that doesnâ€™t mean you have to settle for paying too much.