(PRWEB) September 19, 2012
These days, going off to college symbolizes not only a time of self-discovery, meeting new people, and being away from home; moving away to college marks the beginning of an independent lifestyle for most young adults. Long gone are the days of turning to mom and dad for cash when needed. Instead, college students are generally expected to support themselves, get a job, and manage their own finances. In fact, more students than ever are paying their own way through school with little to no help from parents or guardians. And while this new-found independence can be liberating and fulfilling, many college students who own vehicles are shocked to see just how expensive their monthly car insurance costs are.
Luckily, by simply doing some research, college students can find a great car insurance discount that is available to them regardless of the specific insurance company that they may currently have their policy with. For starters, all college students with vehicles should know that, even if their policy is paid in full, it is still possible to switch to a different company if a less expensive and comparable policy is found. In these cases, the previous company would issue a refund for the remainder of the policy. Therefore, students can begin shopping around for a car insurance discount long before it is time to renew a policy.
One of the most commonly offered car insurance discount for college students is generally known as the "safe driver discount." The specific terms and conditions of this discount can vary depending on the insurance company, but this car insurance discount generally applies to students who have not had any accidents or major traffic violations within the past three to five years. In many cases, this car insurance discount can save a college student up to twenty percent on the overall cost of their six month policy, which can equate to hundreds of dollars over the course of one year.
In addition to safe driver discounts, many auto insurance companies these days offer "good student discounts." Again, the specific terms and conditions relating this type of car insurance discount will vary from company to company, but this discount is typically for students who maintain a 3.0 grade point average or higher in school. Some insurance companies have stipulations on this discount. For example, they may require the student to send in an official school transcript to prove that his or her grades are up to par. In addition, some insurance companies require that a student be enrolled at least half time in order to receive the car insurance discount. Therefore, it is important for students to read the fine print regarding this discount before applying for it. Generally, a good student discount can save a driver ten percent or more on his or her insurance policy.
Finally, another way for college students to save on their insurance policy is to pay for it in full rather than making monthly payments. This can typically save an addition five percent, depending on the car insurance company. Of course, this is not financially feasible for all students, especially those on a tight budget. Still, it is an option to keep in mind.
There are many ways for college students to save on car insurance. All it takes is a little bit of time and research into a car insurance discount that applies to them.