College days can be the best time of your life. You’ll make new friends, experiences and funny memories to look back on, including the month you almost ate noodles for every meal to save for your city break to Berlin.
Freedom is a huge part of student life for some, this includes driving independence. But with the freedom of a car comes the cost of insurance, road tax and fuel.
We’ve compiled a list of tips to keep your insurance premium lower when trying to maximise your college life budget.
1. Car Type and Value
Are you about to embark on buying your first car or are you already on the road? The type (engine size, make & model) and value of your car can impact how cheap your car insurance will be. It may be worth downsizing.
Student Tip! Buy a car that has a smaller engine size, and is of a standard model, and free of modifications. A 3 or 5 door hatchback with approximately a 1 Litre capacity, or a car in a lower insurance group will give you the best value.
2. Keep a Clean Licence
When you’re behind the wheel, be sensible and drive safely. Avoid penalty points and convictions as this will influence your insurance premium. Don’t use your mobile when driving, speed and never drink and drive.
If you’re a novice driver (N plate) you have a lower threshold of seven penalty points for breaking the rules of the road. Penalty points may affect your next insurance premium renewal, and also you have a higher chance of a driving licence disqualification.
Student Tip! If you’re still learning to drive, did you know as a Liberty Insurance customer, learner drivers can get €250 back by completing 12 lessons with the Irish School of Motoring (ISM) until end December 2014. http://www.libertyinsurance.ie/ism/
3. Keep Your Mileage Low
The less you drive, the less of a risk you are. We understand this, and therefore having a low mileage may reduce your premiums.
Student Tip! If you commute to college daily, try to park your car for the day and avoid additional driving. If you live near the college, leave the car at your college house in a safe parking space and walk/cycle to campus. This also reduces your fuel cost if you’re on a tight budget.
4. Avoid Modifications
Modifications are likely to increase the insurance premium. By avoiding changes such as engine modifications or a lowered suspension, you can keep the price of your insurance down. Of course not all modifications will increase your insurance premium but you must tell us before you go ahead with any modifications or tell us of any existing modifications to your vehicle.
Student Tip! Avoid potential insurances claims and car breakdowns by regularly performing car maintenance checks. Car servicing tends to be neglected while at college. Tyres, oil, water and lights are a good starting point. This will reduce your likelihood of calling for breakdown assist or the cost of a major repair or accident that may have been prevented.
What is cheaper a new tyre or a new tyre hub? It’s okay to miss one or two gigs to ensure you drive safely.
For young or provisional licenced drivers, we have some great benefits available.
5. Pay in Full for the Lowest Price Available
If you pay upfront, this will mean no monthly payment charge. If you are able to pay in one go, do.
Student Tip! If you can plan your start/renewal date, arrange your car policy to begin during the summer months when chances are you have a summer job and some additional income to pay your policy in full.
We understand that getting insurance cover whilst studying in college can be a costly, so if you adhere to this advice, you can reduce your insurance premium. If you start driving now and begin to build up a history of accident free driving with no claims, it won’t be long before you build a good driving record and a ‘No Claims Bonus’ entitlement that will dramatically reduce the cost of your cover.
Get an online quote from Liberty Insurance and we will give you an estimate in minutes.
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