What car insurance discounts are there for college graduates?
- Good credit score discount
- Good driver discount, no accidents within a specified amount of time
- Multi-car discount on family plan
- Bundling your auto and renters insurance can unlock discounts
- Professional organization discount
- Low-risk occupation discount
- Higher education discount
How college graduates can save on car insurance
- If your commute to work is significantly longer or shorter than you’re used to, consider contacting your agent to increase or decrease your coverage based on your new average mileage so you’ll never have to pay outright for uncovered expenses after an accident.
- Be aware of where your new apartment, house, or job is located. When setting your premiums, insurance providers consider the crime and traffic rates of where your car spends most of its time.
If your home or office is located in an area with high rates of both, you may want to add on security or collision coverages that will cover you in the event of theft or damages.
You can even unlock a discount if you buy an anti-theft or tracking device for your car.
- Consider buying higher than your state minimum required liability coverage.
Having just started your career, you probably don’t have much of savings account to fall back on.
You might never recover from being found at fault in an accident and having to pay out of pocket for other’s medical and property damage bills, especially if you also have school loans.
- Avoid choosing the highest deductible simply because it will lower your premium. You may agree to a deductible that is beyond your financial limits.
It’s smart to choose the highest possible deductible that you can afford. Figure out how much you could actually afford to pay out of pocket if you have to at a moment’s notice.
- If you live with roommates consider setting up a carpooling system.
While it may be difficult to find schedules and routes compatible with yours, you might be able to leave your car at home more often, lower your coverage, and simply chip in for gas.
- If you have access to public transportation as a way to get to and from work, consider just using your car on the weekends. You’ll be able to lower the coverage on your policy.
- Consider buying a vehicle that has up to date safety features. Cars that include full-front airbags and restraint devices can qualify you for safe driving discounts.
- Along with shopping for a car with safety features, remember that reliable vehicles such as family sedans are usually cheaper to insure, especially if they’re used. Convertibles are cool, but higher premiums aren’t.
By understanding car insurance terms, coverage options, deductibles, discounts, etc. you’ll be able to shop around for multiple quotes and make sure you’re getting the most affordable price and appropriate coverage from your auto insurance company.
Want to explore money-saving options that are directly crafted for college grads just like you? If you have any questions or want to get a quote, get in touch with your UniAmerica Insurance agent today or give us a call at 1-310-835-3373.