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Auto Insurance

Budgeting for Car Insurance: A Guide for College Students

Budgeting for car insurance can be tricky for many, especially those on a tight budget. College students are often seeking their own insurance for the first time, and there’s a lot to consider. Car insurance rates can vary for a multitude of reasons, and navigating the different variables can be tricky. Here are some suggestions for how to lower your car insurance premium and stay on budget.

Student Discounts 

Insurance companies know that students tend to be financially limited, so they offer discounts to help out. The “Good Grades” discount is a common price reduction insurance companies offer to students who maintain a certain GPA. Some companies have discounts for students in certain organizations or those with a clean driving record. When looking for the insurance company that meets your needs, ask about any available discounts. 

Safe Driving Record

Trusting a driver with a clean record is easier than one with a lot of claims. Insurance companies offer lower premiums for students who don’t have a history of accidents and haven’t filed multiple claims. They also might reduce your rate if you have taken and passed a defensive driving course. This kind of history makes you appear more trustworthy to insurance companies and can help you save money. 

Choosing the Right Car

Owning a reliable car is the first step in saving money when it comes to car insurance. Flashy, expensive cars generally require pricey repairs or services, which can increase your insurance rate. Having a standard, reliable car with strong safety features is more appealing for many insurance companies. When purchasing a vehicle, it’s smart to do your research on the insurance rate that car might generate so you can make your decision with confidence. 

Shop Around 

Finding a company that fits your needs and stays in your budget is important, so make sure you are looking at all of your options. Go to multiple companies and compare quotes and coverage options. Each insurer has different packages and prices, so it’s important to check out all of your options to figure out what works best for you.

Car insurance can be hard to budget for students, but that doesn’t mean it’s impossible. Nsure is here to help. Review auto insurance options from over 50 top-rated insurance carriers today on, and be sure with Nsure!

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