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Understanding Student Car Insurance
By John
You have finally passed driver's education classes and your driving test to get your driver's license. So what now? Time to take the family car for a spin and show your friends that you are finally street legal? Not without some type of student car insurance. In many states, it is illegal for anyone to be driving without some form of auto and if you get caught and you are under the age of 18, you could have your license suspended until you reach the age of 21.
With that being said, student car is an important thing to have. Luckily, many of the commercial companies that provide your older family members with auto will typically be able to provide student car policies as well. The bad news is it will cost you, a lot. People under the age of 25 pay the highest auto premiums of anyone and students under the age of 18 pay the highest rates of all.
The High Price Of Student Car Insurance
Why are the premiums for student auto so expensive? It is because teenagers who have just received their driver's license do not have any real driving experience and are therefore more apt to get into a car accident. Add to this the fact that many teenagers drive while distracted, whether talking to friends in the car with them, talking on their cell phone, or showing off by driving at unsafe speeds, and
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you have the perfect reason for companies to require a higher monthly premium for student car policies. A high percentage of accidents in the United States are caused by people under the age of 25 and high student auto rates will typically remain high until the driver reaches this age.
In some cases, the company will offer a discounted premium rate on student car policies to students who maintain good grades. The companies believe that keeping up with your schoolwork demonstrates a sense of responsibility and they believe that shows that you will be a responsible driver. But if you get into one accident or get one speeding ticket, the discounted rate will be revoked and you will have to pay the full premium price for your student auto until you reach the age of 25.
Student car policies are no different than traditional car policies in terms of coverage and deductibles. The only difference is the high price of the premium. If you can maintain a good driving record and keep your grades up until graduation, then the rate for your student auto may decrease over time. And that frees up your money for more important things, like books for college.
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