There’s a lot going on in life when you’re in high school and college. The future is bright and you have a lot of decisions to make – life can feel hectic. Thankfully, when you’re a student, discounts are almost everywhere you look. That goes for your auto insurance, too. If you have good grades, insurance companies will reward you with discounts!
When you’re younger, car insurance rates are much higher than those who are more experienced drivers. That’s because when you’re younger, you’ve had less time on the road – which equates to being a bigger risk to your insurance company. You’re more likely to have to file an insurance claim, and cost your insurance provider more money.
You can expect a 10%-15% discount off of your premium for showing you are a good and focused student in school. High school and college student the ages of 25 and below are eligible. Of course, in order to get the discount, you’ll need proof of your achievements – the following are valid proof of being a good student:
When you can show your insurance provider that you pose less risk, you get discounts on your premium and deductible. Most auto insurance companies offer a Good Student discount, such as:
GEICO offers three ways to earn a student discount on auto insurance. A good student discount, a good driver discount, and an affinity membership discount.
Eligible drivers must be aged 16 to 24, and maintain a grade average of “B” or better. Homeschooled drivers must show proof of performing at or above the 20th percentile in the PSAT, SAT, or ACT.
Progressive’s good student discount requires the ongoing maintenance of a “B” or better-level GPA. Progressive’s college student savings offer is eligible to college-enrolled drivers aged 22 or younger.
The resident student discount caters to college students leaving their vehicles at their parents’ home. The discount is eligible to policyholders with a college student residing 100 miles or further from their parents’ home
To earn Farmers’ good student discount, a driver must be 16 to 24 years old, enrolled in school full-timeand maintaining an average grade of “B” or better. Earning Dean’s List or Honor Roll inclusion also qualifies a student for Farmers’ discount.
USAA requires to be top 20% of class, full time student, GPA of 3.0 or higher.
State Farm offers discounts for students away from home, good drivers, and good students. To earn State Farm’s good student discount — of up to 25 percent — a driver must keep their GPA above 3.0.
They offer a membership discount via an alumni association or professional affiliation and a student away from home savings package. The former requires you live 100 miles away from the residence listed on the policy.
The thing about the Good Student discount, is it can be stacked upon other discounts that your insurance provides – thus, more savings for you. Are you a good driver? Couple that with your good student discount and you could save up to $186 on your car insurance per year. Ask you provider to see if you qualify for the good student discount, and search around to see if you’re getting the best quote. It pays to be a good student.