Overcome high student car insurance premiums
A university education doesn’t come cheap these days, what with the costs of tuition, accommodation and living expenses- so the added expense of car insurance is the last thing you need.
But you don’t need to commit yourself to a budget diet of just beans on toast just yet; as there are things you can do to make car insurance for students as cheap as possible without compromising on cover.
Car insurance for students is expensive
As a group, students are statistically more likely to make a claim on their insurance than older drivers.
This could be because students tend to be young people with limited driving experience and therefore more likely to be involved in an accident. Or, it could be because they tend to live in areas with higher crime rates and be more prone to theft or vandalism.
But there’s no getting around it, car insurance is a legal requirement for all UK drivers – no matter how tight their budgets may be
This means that student car insurance premiums tend to be higher than average as the insurance companies need to offset the risk of paying out.
But there’s no getting around it, car insurance is a legal requirement for all UK drivers – no matter how tight their budgets may be, so students need to work harder than many drivers to get the best possible price for the cover they need.
How can I get cheap car insurance for students?
Of course one of the most important things to do is to shop around for student car insurance policies. MoneySuperMarket’s quick and easy car insurance comparison service will tell you if you could save money and help you find the right level of insurance at the lowest price.
You might want to invest in some extra security for your car if it’s going to be parked in a high-crime student area. Industry-approved steering wheel locks and immobilisers reduce the chances of your vehicle being stolen and a claim being filed, so they can lower your premiums.
You could even consider a black box insurance policy, where the insurer fits a small ‘black box’ to your car which measures how much you drive and monitors your driving style, rewarding safe and infrequent drivers with lower premiums.