It's not uncommon for the college years to be an individual's first introduction to budgeting and bill payment. Whether you pay for college through student loans, scholarships, grants, parental contributions, savings or a combination of methods, it simply isn't easy to balance a restricted income with the sometimes overwhelming expenses of college life.
It is because of this difficulty that many college students look for ways to cut their spending. Often they’ll forgo services and products they generally want or need in order to use their income for school costs instead. But there are some expenses that are potentially dangerous to avoid and one of these is an Missouri auto insurance policy premium.
The Cost of Being Uninsured
College students may be inclined to ask themselves whether they can afford auto insurance but it would be smarter to ask whether you can afford not to have auto insurance. An auto insurance policy can cover damages to the vehicle that you use to get around town and campus while also protecting you from the potentially tremendous liability expenses that come from your causing damage to another person or their property.
Without auto insurance, a college career could be cut short as funds intended for tuition are instead used to make good on a bodily injury claim after a student unintentionally causes an accident. But with auto insurance, a college student ensures that they can afford to stay in school even if they're involved in an expensive car accident.
Auto Insurance Is Affordable
There are many ways auto insurance can be tweaked to fit into a restricted budget. Premiums can be discounted if the college student takes a defensive driving class and has a good driving record. Premiums can also be reduced by good grades and increasing deductibles. However, it's important to remember that deductibles are an out-of-pocket expense so they shouldn't be higher than the student can afford to pay.
If you’re heading back to school this fall and are concerned about your auto insurance coverage, or lack thereof, give us a call. We can get you set up with an auto insurance policy that’s perfect for your driving habits and history and that has premiums you can afford.