Student car insurance
Are you a student looking for car insurance?
If you're a student looking for car insurance, chances are that you're a young driver.
Car insurers determine their premiums based on factors including:
- Age
- Gender
- Area you live in
- Type of car you drive
Based on age alone, most students will tend to have higher premiums because statistics show that younger drivers are more likely to be involved in accidents and therefore make claims on their policies.
How to lower the rate of your car insurance premium
Choose a lower risk car
Insurers increase the premiums for cars associated with high speeds and frequent thefts, so avoid those types of cars. Also avoid modified cars and those that require rare or expensive parts.
Keep a good driving record
A clean driving record, clear of traffic offences and accidents, may increase your chance for a lower premium, as taking an approved driving course like Defensive Driving might also. Keep in mind that car insurers will not cover you for damage caused by drunk driving, racing or other illegal activity.
Don't modify your car
As mentioned above, modified cars are harder to insure and attract higher premiums, but did you know that by modifying your car, you could even nullify your policy? Don't risk your claim being rejected when you need it most. Either avoid modifications or inform your insurer beforehand to see how it will affect your policy.
Be aware of excesses
You can choose a basic excess for your car insurance policy to reduce the cost of your up-front premium, but be aware that there are other excesses that may apply for student drivers. For example, the age excess is applied on top of your basic excess if the driver at the time was under 25, and the inexperienced driver excess may apply for drivers over 25 who have not held their Australian drivers licence for over two years.
Compare quotes to save money
The best way for student drivers to save money on car insurance is to compare a few quotes from different insurers before choosing the one that suits them best.
This is general information only and does not take into account your personal objectives, financial situation or needs. You should consider the relevant PDS available on this website prior to purchasing any product. Choosi offers insurance products from a range of brands but does not compare all products available in the market.