Going to university or college is an exciting time. New experiences, new friends and new challenges make it one of the most rewarding periods of your life. But it’s also one of the most expensive, and with students increasingly worried about mounting debt and student fees, saving money wherever possible is vitally important. The price of running a car is also spiralling upwards, and one of the biggest costs is car insurance. So how can an impoverished student make their loan stretch a little further when it comes to running a car?
Get the insurance you need
It’s a sad fact of life for most students, but the ‘magic age’ for car insurance is widely regarded as 25. That means you’ll often have to wait until you’ve left university or college to see your insurance costs drop dramatically. But drivers under 25 can still get a good deal by shopping around and getting the car insurance that they need, rather than the insurance they’d like. Fully comprehensive may be out of your price range, but that still leaves you with two options – third party only and third party, fire and theft.
Of the two, the latter is preferable as it gives you greater insurance coverage. However, hunting around on the Internet is a great way of finding a package that may offer much more than you expected. There’ll also be handy tips and hints on how to keep your costs down. For example, if your car is garaged then obviously your premiums will be a lot less than if you leave it parked on the roadside. Look for insurance providers that offer special deals for younger drivers and even those who provide specialist insurance for students.
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