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Some school programs take a lot longer to finish than others. Whenever you finish a school program, you might be wondering how that affects your insurance policy. This really depends on what your insurance situation was like while you were in school. The more time you spent in school, the lower your insurance rates are likely to be once you are done. This is simply due to the fact that insurance companies lower interest rates as people get older. Once you are over the age of 25 years old, you should no longer be penalized for inexperience.

How Do You Set Up An Insurance Policy Once You Graduate?


Setting up an insurance policy may not be something you have done before. When you set up your own policy, you are going to need some information from the insurance company. Things like your license, the vehicle VIN number, how much you are going to drive, and the personal information of other drivers you want on your policy. Once you round up these things, you simply call some insurance companies until you find a good quote. You then set up a policy with them. This is a process that can entirely be done on the phone. Pay close attention to the details though, as this policy is what is going to provide you with compensation if you get into an accident.

Average Student Car Insurance Cost

The average student car insurance cost can vary massively depending on your situation. If, when you were in school, you did not have your own insurance, you might have to pay a fair amount to create your own policy. Whenever you are only listed as a secondary driver on someone else’s policy, your insurance company is going to think you aren’t driving a lot. Even though you may have a decent amount of experience under your belt, you can expect to pay more for your insurance if this is the case. However, if you have been driving throughout your schooling under your own policy it is unlikely that your premium will change very much.

Does Car Insurance Go Down After You Graduate?

Unfortunately, insurance doesn’t exactly go down after you graduate. The only thing that will make your insurance go down is your age and driving experience. If you were driving throughout all of school, it is likely that you have seen a few drops in your insurance throughout your schooling. Just because you have finished doesn’t mean that you should expect to be getting cheaper insurance rates in the near future. Having a clean driving record and safe vehicle and the right insurance policy is going to have a much larger impact on your insurance premiums.

How Much Do Students Save With A Student Discount?


A student discount that works for graduate students can offer up to 10% off in some cases. However, it is important to keep in mind that everyone pays different premiums. Your premium will mostly depend on your age, gender, and driving history. Should you want to get the largest discount possible, you can attempt to minimize the amount you drive. In addition, you can also install things like monitoring systems and anti-theft devices. Anything that reduces the risk of damage being done to your car is seen as a good thing by your insurance provider.

Does Getting Your Full License Lower Your Car Insurance?

Yes, getting your full license does lower your car insurance premiums. However, if you are going from a secondary driver on an insurance policy to a primary driver, you are going to be paying more for your insurance premium. Whenever you have a change in your license, your insurance company is going to re-evaluate you. If you are more of a risk to them as a result of having to drive more, you’re going to have to pay more for your car insurance than you already are. It really depends on the insurance policy that you are coming from and the changes that you make to your insurance policy after you get your full license.

Do I Have To Change My Insurance Policy As a Graduate?

Yes, in all likelihood, you are going to have to change your insurance policy after you graduate. While you were in school, it is likely you are under your current insurance or not driving the same amount of kilometers that you will be. Your insurance company uses the number of kilometers that you drive when they calculate your insurance policy. Any changes to the distances and locations that you’re driving can affect your insurance.

Does Insurance Change at All If You Are a College Graduate Compared to a University Graduate?

No, the school that you went to has no impact on your insurance rates. However, you might be able to apply for a discount if you get good grades in school. As long as you are meeting the average, it is likely that you will be eligible for a discount. Some insurance companies only offer this discount when you are in school. It never hurts to ask and find out for sure, though.

Does My Student Debt Impact My Car Insurance?


Many graduates have student debt. What a lot of people don’t know, however, is that a credit score can impact your car insurance. Any loans that you take out for your schooling, therefore, can potentially impact your premiums. To avoid an increase in your car insurance premiums, make sure that you pay your bills on time each and every time. It never hurts to have some money set aside to pay for emergency situations. You don’t want to have more expensive car insurance just because you forgot to pay your student loan. Set reminders and make those payments!

To Conclude

No matter where you are a graduate, it is important to make sure you get the right insurance policy. The more you look into insurance policies offered by different companies, the more you are likely going to be satisfied with your insurance plan. Try to get a student discount and shop around to try and get the cheapest insurance rates. The harder you work, the more you are likely going to save.

About the Author: Ashley Miller

Ashley is an insurance content professional and very knowledgeable on all related subjects. Ashley has over 12 years of insurance content writing experience working with various insurance companies throughout her career.