You’re proud of your good student! Now let them help you with his/her car insurance rates.
Not all auto insurance companies offer a Good Student Discount but for the ones that do, it can help with rates for your younger drivers. They put in the work so you might as well save the money.
What are the typical qualifications to be classified as a ‘good student’ for auto insurance discounts?
To qualify, typically these qualifications must be met:
§ Often given to drivers under the age of 25 but this age threshold can vary by carrier
§ Must be enrolled full time at a high school or college or university
§ Must maintain at least a 3.0 grade point average
How does the good student qualify for auto insurance discounts?
By submitting proper proof/paperwork when the discount is added to the car insurance policy. Here are the most common forms of proof:
· Dean’s List
· Honor Roll
· Report Card
· Some companies also take letters signed by an administrator testifying to your student’s academic achievements or if the student has a class ranking in the top 20% of his/her class
· If you home school, some companies will also take standardized test scores (such as their SAT or ACT scores)
What about the savings?
It varies from company to company but the discount often ranges anywhere from 5% to 10%. This makes it well worth pursuing for the minimal effort it takes to get. Plus, it’s a win all the way around incentive (kids getting good grades is a beautiful thing and helps them feel good about themselves too).
If you have a good student, the Good Student Discount is an easy, achievable car insurance discount that you may be missing. Talk to an insurance agent to see if your carrier offers it; otherwise you’re leaving money on the table that could be spent on school supplies.
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