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Money Geek featured Lubin Professor P.V. Viswanath in "The Best Cheap Car Insurance for College and High School Students on a Budget"
Money Geek featured Lubin Professor P.V. Viswanath in "The Best Cheap Car Insurance for College and High School Students on a Budget"
How should students decide what level of auto insurance to purchase?
This decision will differ depending upon whether the student is paying for the insurance or not. If the student is paying for it, how able is s/he to absorb large payments if a low level of insurance is initially purchased? How careful a driver is the student? If the answer to the first question is that the student does have (parental or other) liquid resources to dip into and the answer to the second question is that s/he is a careful driver, it may be possible to initially buy a lower level of insurance.
What factors should students consider when deciding whether to bring their car to campus or keep it at home?
If the car is kept at home and the student therefore requires frequent travel over longer distances, the cost of insurance will be higher. On the other hand, it may be that chances of risk/theft are higher on a campus.
