Insurance companies offer many student discounts aimed towards helping young drivers lower their insurance rates. You need to meet specific requirements to apply. The most popular are good student, good driver's, and live-away-from-home discounts.
Different types of student discounts
Insurance rates are an average of 80% higher for drivers aged 16-25 compared to drivers 26 and older. Fortunately, saving money is made easy with student discounts, including:
- Good Student Discount: Students qualify for a 7% average decrease in their insurance premiums. Qualify for this discount if you've got a high GPA.
- Good Driver's Discount: Students who have completed driving courses qualify for a good driver's discount. The classes you need to complete depend on which insurer you're with. Liberty Mutual offers safe drivers up to 30% off. Contact Liberty Mutual to see how much you're able to save, today.
- Students Away From Home Discount: Qualify for this discount if you're boarding or live on your college campus away from home. Students who've got their car garaged or parked an average of 100 miles (or further) away are able to apply. Save money based on the fact that you only drive your vehicle during weekends and vacations.
Which car insurance companies offer student discounts?
We've compiled a list of insurance companies with the best student discounts available.
- Progressive: Progressive's one of the most well-known auto insurance companies out there. All you need to apply for their student discounts is proof of your good grades (3.0 GPA, B grade or higher). Apply for a Live Away From Home discount or save with good driver discounts. Contact Progressive for an easy quote, today!
- GEICO: GEICO's an affordable insurance company that gives students three great discounts. To qualify for a good student discount with GEICO, you need to have a B average or above grade. Apply for a good driver's discount and an affinity membership discount to save even more money.
- Allstate: Allstate gives drivers aged 16-24 the opportunity to apply for the good student discount. Students need to have a B average (or above) grade. If you're homeschooled, you need to provide a report that shows you have grades above 20% of the PSAT, SAT, or ACT. Contact Allstate to get your personalized quote, today!
- Nationwide: Nationwide offers students a discount who don't often drive their cars. Students and college members who leave their vehicles at their parent's house are able to apply. Students need to live 100 miles, or further, from where their car gets garaged.
- State Farm: State Farm allows for students to save money with their student discounts. These discounts get offered to students who've completed a Steer Clear program. You also receive a good student discount if you've got a B average or above grade.
3 things to consider when applying for a student discount
- Save money with a student discount (by cutting back on high insurance rates) as a young driver. Get better, more affordable coverage.
- There are other ways for you to save money as a student, such as applying for minimum coverage or adding to your deductibles.
- Some companies provide higher student discount rates than others. It's essential to understand your options and compare as many quotes as possible.
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