Cheap Car Insurance For Students
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Being a student with a car can be really depressing. Sadly, you are in the highest premium group because of your age and experience. New drivers are considered a much higher risk on the road, and it can become a Catch 22 situation with needing to gain experience to bring your motoring costs down to a more reasonable level and trying to afford the insurance premiums to get there in the first place. Thankfully there are a few things you can do to bring your initial costs down a bit and make it easier to drive and be a student all at the same time!
So, What Can You Do?
First of all, you need to make sure you are driving a suitable vehicle. While it might be tempting to have something sporty or modified, forget it. You are much better off having a small engine car as these are known to be cheaper to insure. Next, consider the security of your vehicle, are you able to part it in a garage or at least on a driveway off the road? This will help, and even better is a car alarm or other security device which can be fitted if not already included with the car. ‘Old fashioned’ steering wheel locks do not cost much but will still deter thieves who are looking for a quick getaway.
Consider having telematics insurance. This is where you have a Black Box device fitted to your car that monitors you’re driving. It might seem to be a Big Brother-style measure, but at the end of the day you want to get a decent premium as soon as possible, and most people just want to drive, sensibly and carefully. Select a higher excess; you will find that you have a compulsory excess that the insurance company impose which needs to be paid before a claim, but there is also a voluntary excess, and if you can up the value of this you will help save money on your premium.
Don’t be tempted to add other drivers unless it is unavoidable, in particular, do not add anyone who is under 25. It makes the most financial sense to be the owner, and the only driver of the vehicle and this, along with no claims, will be the quickest way to bring your premiums down to something more reasonable. That said, you should, therefore, avoid making claims unless you really need to, so if you can afford to repair the damage and there is no other vehicle involved you should avoid claiming. As soon as you claim you will lose any no claim bonus you might have accrued and be back to square one.
If you are away at university and only drive when you come home, you might be better off looking at temporary car insurance policies rather than annual ones as these can be more affordable. It will take you longer to build up a record, but it might be financially more comfortable.