University Goers Warned Over Hikes In Car Insurance Premiums

Wed, 03 Sep 2008

Students planning to take their cars to university could suffer from a significant rise in their insurance premiums, according to comparison website moneysupermarket.com.

It suggested that first year university students are likely to see their premiums rise by as much as £1,300, as they are usually forced to park their cars on the streets of larger cities, increasing the risk of theft, and therefore premiums .

Peter Gerrard, head of insurance research at moneysupermarket.com, explained: "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."

Online bank Smile recently claimed that the current economic slowdown has made it even more important for students to manage their finances efficiently.

Additionally, reports by the Telegraph suggested that the economy downturn has caused the number of graduate recruitment schemes being offered across the UK .
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