There are several ways to save on car insurance and pare down that monthly premium. Many auto insurance providers offer good student discounts to drivers who are currently enrolled in school and can prove they have a good academic standing. Auto insurance providers consider these drivers to be more responsible than the average driver, and therefore deserving of a discount on their insurance policy. If you are a student driver and want to save on car insurance, ask your insurance company about their good student discount policy.
Who Qualifies for Good Student Discounts?
Car insurance companies in most states extend good student discounts to drivers who are under the age of 25 and are enrolled in high school or college. Students need to maintain a certain grade point average in order to maintain their discount and may need to provide information about their SAT, ACT and PSAT scores. Most car insurance providers also require drivers to be full-time students in order to receive their discount.
The amount of the good student discount varies by car insurance provider, but it typically ranges from 10 to 15% off the regular premium – a significant savings for any student!
If the student’s grade point average drops or the student switches to part-time status, they may no longer be eligible to receive a discount and will need to pay the full premium until their academic standing or status changes again.
Getting a Good Student Discount
In order to get a good student discount from your auto insurance provider, you will need to ask your car insurance provider about their eligibility requirements and submit copies of test scores and your report card for review. If you are home-schooled, the car insurance company may base eligibility on standardized exam results.
You will need to submit a regular application and indicate that you are a student driver. The insurance company may ask you to attach copies of supporting information to your application or have this information faxed or mailed directly to them.
It’s important to remember that good student discounts typically apply to certain types of insurance coverage. In most states, the good student discount will be applicable to bodily injury and property damage liability coverage, medical payments coverage, comprehensive coverage and collision coverage. Check with your insurance provider to confirm whether the price of your insurance package will be reduced with a good student driver discount.
Getting a good student discount can pare down the cost of car insurance and also encourage students to maintain a good academic standing in high school or college. If you are looking for ways to save money on car insurance and are a student under the age of 25, ask your insurance provider if you qualify for a discount.