By Stacey Askew
When it comes to auto insurance, students are often screwed over for being young, single, and potential risk-takers.
But the Ryerson Students’ Union has a discount deal that hardly any students know about.
Any full-time student under the age of 25 enrolled in three or more courses is eligible for the 10 per cent discount.
“Insurance companies argue due to their age, demographically, those between 18 to 25 are a higher risk,” said Michael Verticchio, executive director of operations and services at Ryerson.
Last year, about 110 Ryerson students took advantage of the program.
The program was established last year after the RSU approached insurer Belairdirect. The program is a source of revenue for the students’ union because it receives a commission for every student that signs up, Verticchio said.
That money can be put towards subsidizing other costs, such as TTC passes. Marketing costs are covered by the company, he added.
Evan Steenson, marketing co-ordinator for Belairdirect Ontario, admits students aged 18-25 are often faced with steep premiums.
“As far as I know we are the only ones to invest some advertising aimed at students,” said Steenson. Belairdirect is not trying to avoid students with high prices, but it wants to attract them with a discount, he said.
Despite advertising in campus washrooms and student planners, third-year ITM student Soran Nouri hadn’t heard of the discount program.
However, he said he’ll look into it.
“Its so expensive driving a car now, when you’re paying the lease and insurance, it comes out to a lot every month,” he said.
“Gas is expensive, tuition is high and education is not affordable, so if we can provide any savings at all, we will do it,” Verticchio said.