Thursday, November 12, 2009
As the economy has shifted about and soured, many people have decided to go back to school for additional training or a degree to give themselves an edge in the job market. If you are one of them, congratulations on making the investment in yourself and your future. Now, it’s time to make sure you are saving all the money you can with your new student status.
There are all kinds of student discounts out there that are official and advertised. However, there are also substantial savings that can be had by simply letting others know that your lifestyle has changes. One place to look for those savings is in your car insurance premiums.
When you take on full-time student status, many of your usual routines will change. Students don’t have regular commuter schedules. They often walk, bike, or take public transportation to get around. Their cars spend long stretches of time parked instead of out on the road.
As a result, students don’t have the same risk profile as regular drivers. You just aren’t facing the same things on the road as a corporate warrior who has to drive in peak traffic five days a week. You may fight for a good spot close to your building on campus, but you aren’t fighting urban traffic to get a good spot in a competitive corporate lot.
Thus, you should explore how your changed risk profile as a driver can save you money on your car insurance. The first step is to realize that your standard car insurance cover likely isn’t pricing your premium right any more. You’re paying average, working driver rates, subsidizing a lifestyle that simply isn’t yours any longer.
When you look for new insurance, you will want to look for an insurer that is going to make the effort to differentiate between you and average drivers. You’ll want a company that is willing to keep up with the changes in your life and price your insurance cover accordingly. After all, why pay money for coverage that doesn’t fit your needs?
The process of establishing yourself as a lower risk driver, or at least a different risk level driver, involves using a more inquisitive quotation process. It can be done completely online, between classes or whenever you have the time. Just answer additional questions about the number of days that you drive, where you usually keep the car, and your average driving distance to start separating yourself from the commuter crowds.
When you get back your quote, you can be confident that the cover you are offered has been priced based on your true risk level. You may be quite surprised at the amount of money you can save with customized premium pricing on car insurance. However, as a student, finding extra money by cutting out unnecessary spending is a great way to find the money you need to get the most out of your education.