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College student car insurance 101

Janelle Vreeland

What you need to know about car insurance as a college student

Car insurance is a world that isn’t easy for a person t get around in. There are a lot of words and things that people don’t seemingly understand, and we think that it was written that way for a reason. It can be a little frustrating for a person to figure that out, and you’ll find that there are a couple of secrets that the car insurance companies are hiding. They don’t want the laymen to figure out some of their tricks, as it would cost them money, and that’s something that they definitely do not want to do. It’s just not the way that they operate, and they will try everything that they can to keep you in the dark.

College student car insurance 101 tip 1: Formally cancel your policy

The car insurance companies generally state that their former customers can just notify them in writing when the coverage period is up. While they may really want you to think that, it’s hardly the case. Most people just think that they can just fore go the bill, and that’s exactly what the insurance company would like a person to think. In actuality, they’ll just send you the bill, and if it goes without being paid, it will go into collections. We all know that it will impact the credit score. If you’re to cancel the policy, it’s best to contact your representative and tell them that you’re going to be terminating.

College student car insurance 101 tip 2: They really care about credit

Car insurance companies have quite a few things that they consider to be substantial. They are pretty thorough when it comes to investigating your character, and a person should really be thinking pretty hard about their credit score. It happens to be really important to them, and it doesn’t matter what they tell you – they will always pull your credit score. It may sound a little harsh, but they do have a pretty good reason for doing it. The statistics state that there’s a direct correlation between those with bad credit scores and filing claims. If your credit score is a little lower than it should be, be prepared for them to check it out and make a judgment.

College student car insurance 101 tip 3: They have a model rating system

There are a lot of factors in which the car insurance companies determine a person’s risk for insurance, and how much it will cost. One thing that they’ll never tell you is that they have a rating system for makes and models of vehicles. It’s something that a lot of people do not want to think about, especially since they don’t release their rating system to the public.

College student car insurance 101 Tip 4: They charge more if you break down payments

There are a few different payment choices that the policy holder has with their car insurance policies, and trust us, you’ll have to pay more for them. If possible, it’s always best to pay as few of times as a person possibly can. They have the chance for a person to pay monthly, quarterly, and in six-month increments for car insurance for college students. It’s always best to go for the six-month payment, as they won’t tack on all of those administrative fees.

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