What Is Student Car Insurance?
About Student Car insurance and what it covers.
What Is Student Car Insurance And What Does It Cover?
Student Car insurance is designed for university students who are looking for the right level of cover at the most competitive price. Young drivers end up paying more for their insurance premiums than older drivers do due to limited driving experience and no claims bonus, and those who are moving away from home to live at university, whether in halls of residence or private rented accommodation, can find their premiums increase further due to the perceived higher risk based on their inner city locations – so a specialist product designed especially for university students could help reduce the cost you could face.
Student Car Insurance Explained
Being a student, due to your potential inexperience on the road and your age combined with insurance industry statistics involving young drivers and insurance claims, you are deemed to be a much higher risk then older, more experienced drivers. Likewise, because most universities and their student accommodation are located within or close to city centres, where insurance claims and risk of property damage is often far greater, most insurance providers will charge more to cover this risk, or may even refuse to provide insurance altogether.
A student car insurance policy will usually acknowledge that the vehicle is going to be parked in communal parking areas or car parks, usually overnight, and accounts for the risk associated with this.
Policies can usually be spread across a number of payments to help with the affordability – particularly as you are likely working towards a budget. Policies may come with a range of additional/optional features depending on the insurer, such as low mileage discounts, legal expenses, breakdown cover, windscreen cover and protected no claims bonus.
Student Car insurance is available in three levels of cover; Third Party Only, Third Party, Fire & Theft and Comprehensive cover. Third Party Only is the cheapest form as it will only cover damage to any third parties involved. Then there’s Third Party, Fire & Theft which will also do the same but you will have the added benefit of covering you if your car gets stolen or receives any damage as a result of a fire. Comprehensive is the most expensive type of cover, as it includes all of the above as well as covering your own vehicle against any damage.
So what are the basics of Student Car insurance?
- Affordable Premiums For Students
- Black box fitted to help lower premium
- 3 Levels Of Cover
- Third Party Only
- Third Party, Fire & Theft