7 Ways College Students Can Save Money on Car Insurance

Save Money on Car Insurance I hate paying car insurance. Don't get me wrong. I love my car. I don't know if I could survive the Texas heat without it. But forking over a huge chunk of change every month leaves me wishing for the days when I was on my parent's insurance. Paying for car insurance is not my favorite part of adulthood. I'm not the only one. Everyone is strapped for cash these days. Especially college students, even if they are saving thousands of dollars with CollegePlus! It's just hard to make ends meet.

Sometimes I feel bad for CollegePlus! students. Why? Most of them don’t know that they could be saving money on car insurance. They’ve saved cash on college but not on their car. True story. Every CollegePlus! student should have gotten a Proof of Enrollment/Insurance Letter in their welcome packet. If you are a CollegePlus! student and need a new copy, you can request the Proof of Enrollment/Insurance Letter online. This will be your first step in lowering insurance costs.

Want to know how to save even more money on car insurance? Try one of these seven tips.

STUDY – it’s that simple. Get good grades and get rewarded by the insurance company. Most insurance companies give good students discounts of 10-20% off insurance. That’s worth a few extra hours of studying every week.
Stay on Your Parents Insurance – this will probably save you the most amount of money. They’ve (hopefully) built up a great history with the auto insurance. Staying on their plan will give you the chance to pay them a small monthly premium instead of forking over a bigger one to the insurance company.
Drive Safe and Obey the Law – It’s not rocket science. Keep your driving record clean and you’ll keep your premiums down. So follow the speed limit, watch out for crazy drivers, and drive safe. This also means never driving without insurance or under the influence of alcohol. Indulging in those can get you in some major trouble.
Choose Your Wheels Carefully – I pay more in a month for my sports car than my coworker does in a year for his motorcycle. Someone who has a Dodge Dart will pay a whole lot less than someone with a BMW. Get a car you can afford. If you are car shopping, shop with the added cost of insurance in mind.
Take a Class – Passing a defensive driving class will take some money off your monthly insurance bill. For a few hours of one weekend, you’ll be reaping in the rewards for the rest of your insurable days.
Get the Right Amount of Coverage – How much do coverage do you need beyond your state’s minimum limits? It can be tempting to lower your liability and save a lot of cash, but you can run the risk of not having enough money to cover the accident when it does happen. Be realistic about what you need and budget accordingly.
Check your Credit – A clean credit history can give you lower premiums. Insurance companies factor in credit history to your insurance quotes. If you have a great history, you’ll be viewed as stable and a low-risk for an insurance company. Don’t have credit history? Ask your parents to help you build some.

Want to save money on college AND car insurance? CollegePlus! can help.

Caitlin Caitlin loves her car. There's no getting around it. It's probably her favorite possession. Caitlin has her BA in Journalism. Want to connect with Caitlin or send her a blog tip? Send her an e-mail.

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7 Ways College Students Can Save Money on Car Insurance

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