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Car insurance discounts for good students
Get a payoff for your good grades with 10% or more off your car insurance.
Congratulations on your great report card! Sending in your report card to your car insurer could save you a hefty amount on your monthly car insurance premiums. Depending on the insurer, you could earn discounts from 10% to 35% off your policy by having a high GPA or being at the top of your class.
Which companies have the best good student discounts?
Like most car insurance discounts, you’ll find a range of percentages and amounts from one provider to the next, plus some changes in availability based on what state you’re in or what level of coverage you have.
- Allstate. The discounts offered by Allstate include up to 35% off for good students younger than 25 years old, teens who successfully completed the teenSMART driver education program and to young adults attending college at least 100 miles from home.
- Nationwide. With Nationwide’s list of discounts, you may be eligible for up to a 25% discount if you’re a full-time student holding a B average.
- Geico. The discounts offered with Geico include up to 15% off your car insurance premium for full-time students between 16 and 24 years old who earn at least a B average.
- State Farm. The State Farm discounts for good students offers up to 25% in savings. The discounts can be applied even after graduation, until you turn 25 years old.
- Liberty Mutual. The Liberty Mutual discount for good students starts at 10% off if you earn better than a 3.0 GPA and you’re younger than 25 years old.
- Progressive. A student who earns all Bs or better can earn 10% off using the good student discount from Progressive, though this discount only lasts until you turn 23 years old.
How do I get a good student discount?
All you have to do is ask your insurer if you qualify for this discount. If you’re a high school student or college student with a GPA above 3.0 or a B average, you’re likely to qualify. Most insurers stipulate that to qualify as a “good student” you have to be between the ages of 16 and 24, but certain exclusions from that rule might apply if you’re a nonconventional or graduate student.
In most cases, your insurer will ask you to send a copy of your transcript or report card demonstrating your qualifications. Once you’re approved for the discount you’ll start reaping the benefits.
Is a good student discount worth it?
Yes. The average good student discount awarded by insurance companies is between 10% and 35%. Considering how expensive car insurance can be for drivers under 21, these discounts could help you save a lot on your car insurance premiums. For example, a driver under 21 years old with an annual premium of $1,378 could save between $138 to $482 in annual car insurance premiums.
Compare car insurance with good student discounts
How long does a good student discount last?
Once your savings have been applied, the insurer may limit how many years you can use your good student discount. For example, two years in high school for drivers 16 to 18 years old, and then four more years for a typical bachelor’s degree at a college or university.
With other insurers, like Liberty Mutual, once you’ve opted into its good student discount, your savings will be applied until you turn 25 years old, even if you graduated years before. To find out the rules for this discount with your provider, contact an agent or read the details of your existing policy.
What if my insurer doesn’t offer a good student discount?
You’ve worked hard to earn good grades, and you deserve a little recognition. But before you leave your current insurer in search of that glimmering 35% discount from Allstate, check into your insurer’s other discounts. You could be eligible for other savings — perhaps for having a clean driving record or added safety features — that could save you more money than a student discount with another company.
What other savings are available to students?
If your insurance company doesn’t offer a good student discount or you’re just looking for additional savings there are a few other options to look into.
- Young driver training. If you’re under 25 some insurance providers will give you a discount if you take approved safety courses offered by your state and in some cases your insurance company. Call your insurance provider to find out what courses are available.
- Get insured by your parent’s provider. If you use the same insurance company as your parents you may qualify for a generational or loyalty discount.
- Student away at college discount. If your school is at least 100 miles away and you leave your car parked at home you could score a discount.
The majority of car insurers offer a good student discount if you meet its requirements, and many of those discounts are substantial, offering anywhere from 10% to a near-crazy 35% off the cost of your policy. So keep those grades up, and talk with your insurer or compare car insurance companies to find out how you can save the most.
Frequently asked questions about good student discounts
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