4 Ways For Students To Save Money On Auto Insurance
Auto insurance isn't a luxury; it's a necessity. In fact, nearly every state in the country requires that drivers have some kind of auto insurance coverage. But when you're a college student, struggling to even find enough change in your couch to buy a hot dog, auto insurance can seem like a huge financial burden. Let's face it. School is expensive and money is usually tight. Fortunately, there are steps you can take as a student to lower your auto insurance rates.
Good Student Discount
If you're a good student who works hard to get good grades, your hard work might pay off sooner than you expect. That's because every major auto insurance provider offers some type "good student" discount for students who can demonstrate that they are doing well in their studies. You can save as much as $300 per year. The requirements for what constitutes a "good student" differ from provider to provider but some of the most common requirements are high GPAs (usually 3.0 or higher), impressive standardized test scores, a high ranking in your class, or making the honor roll or dean's list. However, you'll have to prove you've got what it takes by providing transcripts or a letter from a school administrator.
University Discount
The most obvious benefit of being enrolled in higher education is that you can earn a degree but you might also be able to get an auto insurance rate discount just by being enrolled. Many insurance providers have partnered with universities to provide students with auto insurance discounts. However, not every university offers this benefit, so you'll need to check with yours.
Affiliation Discount
Another benefit offered by many insurance providers is a discount for belonging to certain sororities, fraternities, or honor societies. In addition to looking good on your future CV, joining one of these clubs might get you a discount on your auto insurance rates, between 8-15% in most cases. If you're thinking of joining one of these societies, it's definitely worth looking into the discount.
Safety Discounts
Another opportunity to lower your auto insurance rate is by qualifying for a safety discount. Most insurance providers offer benefits for drivers that can prove their car has certain safety features that minimize the risk of theft or serious accident. These features typically include things like dual airbags, anti-lock, or ABS brake systems (which are standard on all newer models), daytime running lights for increased visibility, and anti-theft systems.
Contact an agency that provides auto insurance services for more advice on lowering the cost of your insurance as a college student.
