How to Save Money on Student Auto Insurance

We all know that high school and college boil down to fashion shows and an arms race in material possessions in a lot of ways, but don’t let this affect your pocket book when it comes to your child’s car. Auto insurance companies will charge much more money to insure a truck or sports car because of the increased risk based on the drivers that typically drive these vehicles. In other words, nobody believes that someone who drives like a Grandma will buy a Miata.

Instead of getting mixed up in making sure that your child thinks they have a cool car or a popular car, ensure that they are driving a car that is generally viewed as safe and insurable. Nothing says safe like a nice four-door sedan such as a Ford Taurus or a Mercury Sable. These vehicles are generally driven for safe transportation only, not to race or prove how fast you can go.

Also, remember that the year of the vehicle can also affect how much the auto insurance company will charge you. If you are driving a 2009 Ford Focus then it will be charged more due to the fact that it is new and new parts will cost more. Whereas a 2001 Ford Focus may not cost as much to have parts replaced and the general value has gone down on the vehicle.

Another benefit to an older vehicle is that most banks won’t require you to carry comprehensive or collision coverage on a vehicle that is 10 years old or older. The reason being that this vehicle isn’t worth enough to pay for the coverage and would likely be totaled if a decent amount of damage was done to it. In turn, the insurance company doesn’t charge as much as there isn’t as much being covered.