Know how to save money on your students car insurance

If you're leaving home for college or university, then car insurance may not be at the top of your 'to do' list.
But finding the right cover for your car could save you money, and may help your student loan go further.
Car insurance for young drivers can be expensive, so here we look at the cover that's available and offer some tips which could help you save money.

Levels of car insurance cover

• Third Party only – a basic level of cover for claims made against you by other people following an accident. It covers your liability for injury to others and damage to their property
• Third Party Fire and Theft – provides the same level of protection as third party only, but also covers your vehicle against fire damage or theft
• Comprehensive – provides all of the above, and includes accidental damage cover for your own car, plus other benefits such as cover for personal possessions or medical expenses

Third Party Fire and Theft is usually not much more expensive than Third Party only, but it provides important cover against fire and car theft. If you're a student in a large city then cover against theft is worth considering.

Make your no-claims discount a priority

The insurers of your parent's car may not wish to continue providing cover if you take their car with you to university. So leaving home to become a student could be the point where you switch from being insured as an additional driver of a parent's car to insuring your own car.
Once you have your own insurance policy your goal should be to earn a no-claims discount. By driving sensibly – following the Highway Code and staying within the speed limit – you can avoid making claims, which could earn a reduction in your premium when you renew your policy.

The car you drive

The age, model and engine size of your car will all affect the cost of your motor insurance. Generally, the smaller and less powerful the car, the cheaper the policy should be. When buying a car, look for a vehicle in a low car insurance group.

Think about your mileage

If you reduce your annual mileage by living closer to the college or university campus then you are likely to receive cheaper car insurance quotes.

Car security

Keeping your car off the roadside at night, or better still in a locked garage, could contribute to a lower premium. If you have to park on the street outside your your student accommodation, then park in a well-lit area and do not leave any valuables in the vehicle that can attract thieves.
If you're living off campus in an area where you're concerned about car theft, it may be worth installing extra security devices to your car. Insurance companies can give you advice – tracking devices and immobilisers are likely to attract a discount on your premium.