Our top pick: Progressive
- Broad coverage
- Transparent pricing tools
- Accident forgiveness on small claims
- Stack a variety of discounts for multiple cars
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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.
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.
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.
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.
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.
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.
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.
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.
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