Last week, just under 1 million students in the UK picked up their all important A-Level results. Deciding on which University to go to can be life changing, whether you intend to live away from home, or commit to a daily commute to your university or college of choice.
One thing that can often slip the minds of students is their car situation, and more importantly, their car insurance. University is a huge financial commitment, and the last thing you need is your insurance eating into your much needed allowance.
Here are some tips from MyFirst on how to prepare and plan your vehicle circumstances whilst organising your university life:
Tailor your cover:
How often you use your car can have huge implications on the cost of your insurance premium. For example, let’s say you are intending to live at University, but still wish to have your car insurance running for monthly trips back home. The significant decrease in miles you are travelling per year will impact your insurance, and you could be saving a huge amount of money.
Consider your mileage:
Like many students, if you are heading to a big city for university, there are an enormous amount of public transport options that are extremely cost effective and will save those miles on your car. Not only that, but big cities are often looked at negatively by insurance providers, as your risk of an accident or bump increases significantly.
No claims bonus:
You may be thinking “Why do I need insurance whilst I’m living away at uni?”. Whilst this is understandable, you could in fact be building up your ‘No Claims Bonus’ which can have hugely positive financial benefits when you come to renew your policy. What better time to build that up when your vehicle isn’t being used that much?
Payment options:
Going to Uni is expensive, and we understand that more than anyone. A flexible payment plan could be just what you need to ensure your finances are kept under control. We offer some of the lowest deposit payments than any other insurance provider, and can tailor a payment plan that best suits your needs.
Shop around:
Like anything, you need options and quotes. MyFirst specialise in analysing the insurance market on your behalf, and collect data and quotes to give you a balanced, and informed decision. Why not call us today on 0333 305 5116 to discuss your student living circumstances, and one of our specialists will be on hand to give you the best car insurance advice.
