Students Car Insurance

Most students find that they can’t afford to run a car at university but, for those who can, there are several things to consider.

Basically, it’s the same considerations which you need to take into account when looking for Young Person’s driving insurance but, to make sure that you are getting the information you need, we might as well go back over some of the key facts from that page here.



Obviously, if you’ve moved away to university you won’t be able to use your mum and dad’s car but, if you’ve stayed at home in order to try and avoid the crippling accommodation costs which confront many university students then that section may also be of use to you. So, to save you time (because students never have spare time to just idly surf the internet do they?) here are the key facts which you need to know:

There are obviously the three main different types of insurance which you can get, third party, third party fire and theft and comprehensive, which would be the same for any driver at any time. However, when you are a young driver one of the best ways in which you can cut costs is to be named as a driver on your parents insurance. Clearly, you have to have your parents’ permission to do this; not easily gotten. You also have to realise that, although it will be cheaper than just getting your own comprehensive insurance for your car, it will push up your parents premiums and any sort of accident you had whilst driving their car would mean that any no claims bonus which they might have earned over the years would be completely wiped off. This is a big risk to take and thus you would need to sit down with your parent or legal guardian to discuss the possibility of going down this road. Offering to pay the difference between what they were being charged before and what they were paying now may well take the edge off the idea and they may well agree to it. It will be saving you money and, ultimately, they won’t end up having to pay out any more money; everyone is happy.

The worst thing to do would to be to get no insurance at all. As well as being illegal it is also highly dangerous and could end up seeing you having to spend much much more money further down the line. It is also tempting, when you are a young driver, to go with the cheapest most basic form of cover but be sensible when considering this as well. As we have already discussed, there is a great possibility that young drivers will be involved in an accident in their first 18 months of driving; if you are unlucky enough to be involved in one then you really do want the reassurance that you are going to be as covered as possible and that your car will be able to get the repairs which it needs in order for it to run properly and safely. Once you have your insurance then you can simply concentrate on driving as safely as possible and building up a no claims bonus which will ultimately help to lower the costs of what you are paying out in the future.

Students, of course, like to save money and thus car insurance can seem like an unnecessary expenditure. If you’ve come to us for help on this particular issue then there is no doubt that you are probably highly stressed because you just can’t find a decent and cheap quote out there. Every price you seem to be given from a company seems to end up being more than you actually paid for your first car and this just doesn’t seem fair.This isn’t just random discrimination in action, however; the insurance companies do have very good reasons for their pricing structures.

Car insurance works just the same as any other type of insurance does; you are assessed on how much risk you pose to the company. Clearly, no matter how much any company claims to have your own interests at heart, they are a profit making enterprise and are there to make as much money out of you as is possible. Thus, if they feel like you are a risk on the road or are more likely to be involved in an accident, then they are going to charge you higher premiums in order to make up their costs which they may end up having to pay out. Statistically speaking, young people are the most likely to be involved in accidents or crashes on the road and are more likely to make insurance claims or have claims made against them. Thus, armed with this knowledge, the insurer will choose to charge young people more if they do decide to take them on. Thus, whilst high insurance prices may be annoying, they are the literal and metaphorical price which you have to pay in order to ensure that you and the other road users whom you may encounter are safe on the road.