How Young Drivers Can Save Money on Car Insurance
Whether you’re a full-time student working part-time or a part-time student working full-time or just concentrating on school or work full-time, your life probably demands a set of wheels, which as you know is a money-draining piece of machinery. But there is a financial saving silver lining to car insurance if you’re under 25 years old—check out the following tips designed to help you save on your car insurance premiums.
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When choosing a vehicle to fit your life, make sure it’s equipped with safety features such as anti-theft devices, airbags, and an antilock brake system (ABS); according to The Penny Hoarder Writer Kelly Anne Smith, these high-tech safety features can reduce your insurance rates.
If you are a student, take advantage of this identity and seek out discounts tailored to young drivers who are actively hitting the books.
“Some auto insurance providers offer good-student discounts, which are usually based on your GPA. Insurers have different eligibility thresholds, so call and check with yours,” Smith explains. “You’re in school and want to do well anyways — why not save money for it?”
Another discount you should look into, according to Smith, is one associated with completing a safe-driver course.
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And although saving money any way you can is important to your financial bottom line, don’t let the thought of saving money outweigh solid judgment.
“Auto insurance can be a budget breaker for young drivers, but don’t let the high price stop you from getting the coverage you need,” Smith writes. “You may want to go with only the minimum coverage your state requires, but this isn’t always a good way to cut costs. If you were to get into a serious accident, you might not have enough coverage to pay for all the damage, which may force you to pay out of your own pocket.”
Car insurance is expensive, but it’s an essential expense if you want to drive—with these tips you can make your payments a little lighter.
News Source: The Penny Hoarder