UCLA Students: You Might Qualify for a Car Insurance Discount
It’s tough trying to pay the bills while you are in college. If you own a car, you have gas payments, maintenance costs and your regular insurance premium. Therefore, you must budget your car into your life. Given that you pay tuition and other costs, paying for your car insurance should not be an extra hassle. Instead, talk to your insurance agent about whether you qualify for policy discounts. Sometimes, even your grades might qualify you for the savings. Here is why.
What are Good Student Discounts?
You’ll have to pay your car insurance premium at regular intervals. And generally, based on how much risk you present to insurers, the price you pay for your coverage will vary. The higher the risk you present, the more you might pay for your coverage.
However, insurers often offer incentives to help clients save. These are policy discounts. If you qualify, then you’ll pay a percentage less for coverage than other policyholders. Many discounts relate to your driving record and ability to keep insurance. Still, other discounts might apply if you maintain good grades.
Generally, if you maintain a B average or higher, then you will qualify for a good-student discount. If you keep your grades up, you might be able to save a percentage on the policy. Coverage might apply not only to college students, but also high-schoolers. Even if you haven’t made it to UCLA yet, the incentive exists to work on good grades as soon as you start paying for car insurance.
Why do they Apply?
You might wonder why your insurer will award discounts for good grades. It all has to do with risks.
Data shows that students with good grades tend to be more responsible. Their driving practices, by comparison, will also usually prove safer. The student’s likelihood of having to file a car insurance claim might drop. That will lower the chance of an insurer having to pay out, and the company’s overall cost risk might drop. As a result, they might not have to charge student drivers as much as they would those can’t prove good grades.
Still, insurers determine rates using a lot more factors than a student’s grades. Factors like your driving record will also play a role. So, if you have good grades, but have received multiple speeding tickets, you might pay more for your coverage. As a result, you should work to be as safe a driver as possible to keep your rates affordable.
Call and talk to one of our agents today at 800.773.1663 to see how much we can save you!