How can I get a good student discount on car insurance?
UPDATED: Apr 28, 2023
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Melanie Musson
Published Insurance Expert
Melanie Musson is the fourth generation in her family to work in the insurance industry. She grew up with insurance talk as part of her everyday conversation and has studied to gain an in-depth knowledge of state-specific insurance laws and dynamics as well as a broad understanding of how insurance fits into every person’s life, from budgets to coverage levels. Through her years working in th...
Published Insurance Expert
UPDATED: Apr 28, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our car insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different car insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about car insurance. Our goal is to be an objective, third-party resource for everything car insurance-related. We update our site regularly, and all content is reviewed by car insurance experts.
UPDATED: Apr 28, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our car insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different car insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
UPDATED: Apr 28, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our car insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different car insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Car insurance is most expensive for teenagers and young adults. Until you have a few years of driving experience any car insurance company must rely on statistical information about other people your age in order to set your premiums. Unfortunately, young people are more likely to be involved in auto crashes than any other age group, so their insurance rates are comparably higher.
There are several reasons that young adults have a higher rate of accidents than older drivers. Teenagers are especially likely to be involved in alcohol-related crashes, possibly because they are afraid of getting caught drinking if they call for a cab or ask for a ride home from their parents. Teenagers and college students are also somewhat more likely to drive without seatbelts, speed or engage in other risky driving behaviors. Additionally, young drivers do not have the experience necessary to train their reflexes and response times to deal with a crisis, so they may not be as skilled at avoiding accidents.
What car insurance discounts are available for student drivers?
Fortunately, there are some insurance discounts available to high school and college students. One discount aimed specifically at young drivers is the good student discount, which rewards young drivers for good grades in school. You can receive this type of discount whether you own your own policy or are listed on your parent’s policy. In some cases, if a parent has multiple children on his insurance, multiple good student discounts could apply.
In order to qualify for a good student discount, you must maintain a GPA of 3.0 or above. This translates into a solid B average. Some companies will offer the discount for being placed in the top 20 percent of the class or being on the school’s dean’s list, but the 3.0 GPA is the most common deciding qualifying criteria for most students.
Each semester, you must send a copy of your transcripts or report card to your insurance company. These will be reviewed and, if you qualify, the discount will be applied to your car insurance. On average, the good student discount will save between 10 and 15 percent off of your auto insurance premiums for the year.
Not all car insurance companies offer a good student discount, but most major providers do. If you already have insurance, you can contact your agent or the insurance company’s customer service department to see if you can obtain this type of discount. If you are purchasing new insurance, you can fill out a quote online; the quote form will ask about any students in the household and their academic record, and provide you with an adjusted rate accordingly.
Why do good students get lower rates?
In some ways, your grades replace your credit score when applying for car insurance. Because most young drivers do not have established credit, car insurance companies gauge a driver’s responsibility by looking at the student’s academic record instead. Good students are generally more responsible and statistically have fewer accidents than those who get poor grades. Good students may also be more financially responsible and thus more likely to pay premiums on time.
What other discounts are available to students?
Whether or not you qualify for a good student discount, you may be able to save money on your car insurance through other means. Most companies will offer a discount for drivers who take advanced driver’s education courses, such as defensive driving. You can also obtain a discount by installing safety devices into your vehicle or agreeing to keep the vehicle parked in a garage or covered carport rather than in an open lot.
After several years of safe driving, your rates will begin to drop. The longer you have an insurance policy and the better your relationship with the insurance company is, the more likely you will be to qualify for discounts. Whenever your policy renews, be sure to ask your company about any additional discounts you might qualify for.
If your rates are still too high, you may wish to change your insurance company. You can begin the search for a new company online by filling out your zip code above to find a list of local car insurance companies and an idea of how much insurance will cost.
Frequently Asked Questions
How can I get a good student discount on car insurance?
There are several ways to get a good student discount on car insurance:
- Maintain good grades: Many car insurance companies offer discounts for students who maintain a certain grade point average (GPA) or who are in the top 20% of their class. This is because students who perform well in school are often seen as more responsible and less likely to get into accidents.
- Take a defensive driving course: Completing a defensive driving course can not only help you become a safer driver, but it can also help you qualify for a discount on your car insurance.
- Compare insurance rates: Shop around and compare rates from different insurance providers. Many insurance companies offer discounts for students, so be sure to ask about any available discounts.
- Join a student organization: Some insurance providers offer discounts to students who are members of certain organizations, such as fraternities, sororities, or academic clubs.
- Bundle policies: If you have multiple insurance policies, such as car insurance and renters insurance, you may be able to get a discount by bundling them together with the same insurance provider.
Be sure to ask your insurance provider about any available discounts, as they may have specific requirements or limitations for each discount.
What is a good student discount for car insurance?
A good student discount is a type of car insurance discount aimed specifically at young drivers, which rewards them for maintaining good grades in school. You can receive this type of discount whether you own your own policy or are listed on your parent’s policy. In order to qualify for a good student discount, you must maintain a GPA of 3.0 or above, which translates into a solid B average.
How much can I save with a good student discount?
The amount you can save with a good student discount varies by insurance company, but it typically ranges from 10 to 25 percent off your premium. Contact your insurance provider to find out how much you can save.
Can I still qualify for a good student discount if I am enrolled in an online school or a homeschool program?
Yes, many insurance companies will still offer the good student discount if you are enrolled in an online school or a homeschool program. Check with your insurance provider to see if you qualify.
Can I still qualify for a good student discount if I have already graduated from high school or college?
No, most insurance companies require that you are currently enrolled in school and maintain good grades in order to qualify for the good student discount. However, some companies may offer a similar discount for recent graduates, so it is worth checking with your insurance provider.
Can I stack discounts to save even more money on my car insurance?
Yes, in most cases you can stack multiple discounts to save even more money on your car insurance. For example, if you qualify for a good student discount and a safe driving discount, you may be able to combine them for even greater savings. Check with your insurance provider to see what discounts can be combined.
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Melanie Musson
Published Insurance Expert
Melanie Musson is the fourth generation in her family to work in the insurance industry. She grew up with insurance talk as part of her everyday conversation and has studied to gain an in-depth knowledge of state-specific insurance laws and dynamics as well as a broad understanding of how insurance fits into every person’s life, from budgets to coverage levels. Through her years working in th...
Published Insurance Expert
Editorial Guidelines: We are a free online resource for anyone interested in learning more about car insurance. Our goal is to be an objective, third-party resource for everything car insurance-related. We update our site regularly, and all content is reviewed by car insurance experts.