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Written by Ricardo Teves
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Understand how auto insurance is
calculated so you can make decisions
that will reduce your premiums. The cost of your
auto insurance is based on factors such as your age
and driving record; the age, repair record, and cost
of the make and model of the car you drive; your
credit history; the distance between school and
home; and your grades. Some of these things you
have no control over, but you can reduce your costs
by maximizing the things you can control that affect
your rates.
If you attend school at least 100 miles
from home and you don’t take your
car with you, make sure you or your parents inform
the insurance company. The premiums should go
down substantially while you’re not using the car on
a regular basis.
If you own a car, don’t ever go without
auto insurance. You risk your
financial future. Without insurance, you could be
sued and forced into bankruptcy, ruining your
credit for many years. Even if you drive an old
clunker and decide it’s not worth covering for collision
damage, make sure it’s covered for liability.
If you belong to a fraternity or sorority,
an honor society, or other student
organization, let your auto insurance company
know. Some insurers offer discounts to members of
various clubs and other organizations.
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Taxes & Finance 
