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Car insurance is expensive for students
16 September 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."
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