Home » Insurance » Auto Insurance » Cheap Student Auto Insurance

Cheap Student Auto Insurance: How to Save as Much Money as Possible?

Updated: November 6, 2018

Cheap student auto insurance is a great way for students to obtain coverage for their cars.

While the cheapest student insurance is not usually the most comprehensive, it does represent a way for individuals on a budget to obtain legally required coverage.

Students who compare auto insurance are usually willing to sacrifice full coverage levels in order to get a lower price.

Cheap auto insurance may not offer comprehensive and collision coverage, but it does come with lower monthly premiums that students can afford.

College students auto insurance is the best way for a student with low income to make sure they can drive their vehicle safely and legally.

How to Save Money with Cheap Student Auto Insurance?

One possible way to save money with cheap student auto insurance is to get enrolled in your parent’s insurance plan. This option is available for students who are within a certain age bracket. It allows for better levels of coverage while maintaining low prices.

Getting the absolute cheapest student insurance is another way to save money. This means sacrificing good levels of coverage for a very low monthly premium.

Cheap auto insurance rates are also available for college students who are good drivers. If a student can show their driving history contains no accidents or traffic tickets, they are more likely to get a deep discount on their policy.

Some insurance companies also offer students a chance to get cheaper auto insurance rates as their policy continues. If the student shows they are a safe driver and a reliable premium payer, the insurance company will lower their rates every six to twelve months.

Getting the absolute cheapest student insurance is another way to save money. This means sacrificing good levels of coverage for a very low monthly premium.

Some students will also negotiate with their insurance company to increase deductibles in order to get a lower premium.

What is Covered with Cheap Student Auto Insurance?

The idea behind a cheap student auto insurance policy is to offer students and other young adults the option of car insurance for very low monthly premiums. However, insurance companies must cut corners when offering these policies.

When you compare auto insurance rates, look into whether the policy has comprehensive or collision insurance.

Coverage in a more expensive policy is not always present in the cheapest student insurance.

When you compare auto insurance rates, look into whether the policy has comprehensive or collision insurance. In most cases, the cheapest student insurance will not have these coverages. This means that damage to the insured’s vehicle through their own negligence is not covered, while damage from fires, floods or vandalism is not covered either.

However, even cheap student auto insurance will offer the minimum level of liability coverage that is mandated in the area. Every state has their own legal levels, which impacts the minimum offerings from insurance companies.

These policies are not meant to offer total protection. They are a way for students to get cheap auto insurance that makes their cars legally eligible to take on the road.

Advantages of Cheap Student Auto Insurance

The biggest advantage of cheap student auto insurance is the cost. There is a reason students want cheap auto insurance: they do not have a lot of money! They are looking for the cheapest student insurance for their vehicles that is available.

With the cheapest student insurance, a young individual does not have to stress about the possibility of missing premium payments.

Even if this policy only covers the minimum legal requirements, students are willing to take the deal. In these situations, compromises are necessary to make their monthly budget work. A student prioritizes money for books and food, instead of getting a more comprehensive insurance policy.

Students also have a tendency to drive older and less valuable vehicles. This makes cheap student auto insurance a sensible option, because the car is not worth an expensive policy. For example, a vehicle that is worth $2000 does not need a policy with high levels of coverage.

With the cheapest student insurance, a young individual does not have to stress about the possibility of missing premium payments. With such low rates, they can pay for the policy six months at a time, ensuring they are never without the basic levels of insurance.

Disadvantages of Cheap Student Auto Insurance

Similar to any cheap car insurance policy, cheap student auto insurance comes with a set of negatives. Not all cheap auto insurance policies are worth the money, because the coverage is too low or the company is not trustworthy.

In some cases, the higher deductible is a calculated risk on the student’s part, because they cannot afford more expensive insurance.

Students must be wary of dealing with companies that have a negative reputation. A number of companies will have incredibly low-priced student insurance policies because customers with more money do not want to deal with their poor customer service or claims record.

Some of the cheapest student insurance policies also have higher deductibles. This means that a student will owe more money out of their pocket if an accident occurs. In some cases, the higher deductible is a calculated risk on the student’s part, because they cannot afford more expensive insurance.

These policies will cover a student from a legal standpoint, because they have liability coverage.

However, the policy does not have collision or comprehensive insurance, which means that any damage to the student’s vehicle through their own fault is uncovered.

Get the Best Insurance Deal Possible

When a student is looking for the cheapest student insurance, it is important for them to consider the bigger picture.

No matter how much money you want to save, never get auto insurance from a company that has a bad reputation in terms of resolving claims or customer service.

If a student is driving a very nice car that is valued at around $10,000 or $20,000, they need to prioritize getting some level of comprehensive and collision coverage. This may mean paying a higher price, but it makes sense for the long-term.

In contrast, students who drive cheaper, ten-year old vehicles may not need this much insurance. For them, saving money is what matters the most. Getting the minimum level of liability coverage is perfectly acceptable in this case.

One thing that every student must avoid is having to deal with a company that has a bad reputation. No matter how much money you want to save, never get auto insurance from a company that has a bad reputation in terms of resolving claims or customer service.

Saving a few dollars every month is nice, but having an insurance contract with a non-cooperative, unprofessional company is a huge hassle that outweighs those benefits.