16th Sep 2008
Many students may be priced out of taking their vehicle to university with them because of the rising cost of car insurance, according to a new study.
Research by moneysupermarket.com revealed that first time students could have to pay an extra £1,300 for their car insurance premiums due to concern over the safety of the vehicle.
At home many students are able to park their cars on a driveway or in a garage, while at university most rely on parking on the street, which is deemed a higher risk.
Peter Gerrard, head of insurance research at moneysupermarket.com, has warned students to amend their policies as not to invalidate their car insurance.
He said: "Students taking their cars to university must ensure they have the correct insurance and amend their policy where necessary; cost-conscious students may want to think twice about taking their car with them.
"For those that do want to get behind the wheel whilst at university I advise them to shop around for the most competitive policy possible."
Source : http://www.yourmoneyhaven.com/
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