This type of insurance is especially applicable to students who are away from their family to go to university. The freedom of being able to travel back to their homes in their own vehicles is tested by the fact that most insurance companies target students with high premiums.
When you select the right student insurance coverage plan for you, you should make sure that you save as much as you can when you use it. The first important thing that you should consider is the type of car that you will be buying. Buying a smaller car with a smaller engine will work out to be a lot cheaper than if you go for a larger sports car with an engine having higher horsepower.
The best tip that you should follow if you aim to cut down on costs involving motor insurance is to make sure that you check up on all the packages available. Not only should you check up on insurance companies, but also on the individual packages that each company offers. There are many online insurers available who only trade online. Comparing all the quotes from all the companies allows you to get the cheapest insurance plan which will not stretch your budget to the limit. If you are confused about all the legs work involved in getting this insurance package, you could hire a specialist broker, who would make things easier for you.
Some specialist sites available online even offer discounts for young drivers as well as students. Make sure that you look into them. Some of them can really help you when you are looking for a particular type of car insurance. When choosing motor insurance, third party is definitely the best choice.
Don’t try to go for a comprehensive package as this type of package is extremely expensive. Try to forgo at least some of the benefits to make the package more affordable.
There are many other ways in which you could keep the cost of your insurance low enough. When adding up all the individual values, the total premium reduction is significantly reduced. One way is to install security devices onto the car. These include wheel and steering locks, etching the windows with your registration, reinforced locks etc. Also make sure that you park your car in a safe place, as even this could affect your insurance cost. If you keep it within campus security, make sure that you mention that in your application.
If you have just passed your driving test, you should consider going for an advanced course regarding road rules and safety. This alone could decrease your premium by a significant amount.
Bottom-line, make sure that you compare policies to make sure that the cheaper option is as cost effective as the slightly higher one.