car insurance for college students

Good or Bad Idea about car insurance: I am a broke college student with a $200 car payment a month………?

I am a broke college student with a $200 a month car payment. My monthly insurance is $240. So every month I am paying almost $450 for a car plus full coverage.And that is with a deductible of $500. NOW….i found online that if a pick a deductible of $1,000 or higher I can save over a hundred dollars a month on car insurance. Is this a good or bad idea????????

As long as you’re prepared to fork over $1000 when you are in an accident, its a good idea. If you can save $100 per month, you just have to go for five months without an accident and you’ll break even. Go longer without an accident, and you’re saving money.

BE SURE that you have $1000 to pay for your deductible, though, if you get in an accident.