How Much More Expensive Is Car Insurance If You Don't Get the Good Student Discount?

by Jane Meggitt
Good grades earn you cheaper car insurance.

There are all sorts of advantages to getting good grades. Not only do you have a better chance of acceptance to the college of your choice, along with potential scholarships, but you can save money on your automobile insurance. Qualifying for the good student discount doesn't mean you must earn straight As. In most cases, a B average suffices for the significant savings.

Good Student Discounts

Good student discounts apply to full-time high school and college students, generally ranging in age from 16 to 24. That's a full eight years that you could qualify and save, as long as you maintain your grade point average.

Good Student Savings

How much you can save depends on your family's automobile policy and the criteria used by the insurance company. For example, State Farm Insurance good student discounts cut 25 percent off the driver's insurance payment. Allstate advertises that a good student can save up to 20 percent. If your family's insurance company doesn't offer much in the way of a good student discount, consider shopping around for another insurance provider. Some companies add a small discount for switching from another insurance company.

Good Student Standards

Don't panic if you receive an occasional "C" in a subject. That shouldn't disqualify you. Most insurance companies require a "B" overall average for good student discount eligibility, not a B in every subject. You must submit proof of your grades to the insurance company. That can include copies of your actual report card or a statement signed by a school official. Home-schooled students must send in results of standardized tests, such as the SAT. For a home-schooled student to qualify for the discount, she must score in the top 20th percentile nationwide for a particular test.

Other Discounts

If you're not the best of students, that doesn't mean your insurance agent can't find discounts to help lessen the payment load. If your family has more than one vehicle on the policy, you could qualify for the multicar discount. Having home and other insurance coverage with the same company also reduces costs. If you're away at college and don't drive much, your insurance could be lessened. Some insurance companies offer driving training programs. Pass the test and you'll receive an insurance discount. Allstate's teenSMART discount is 10 percent, for example. Vehicles with specific safety features, such as lane departure alerts and anti-lock brakes, can lower insurance payments.

About the Author

Jane Meggitt has been a writer for more than 20 years. In addition to reporting for a major newspaper chain, she has been published in "Horse News," "Suburban Classic," "Hoof Beats," "Equine Journal" and other publications. She has a Bachelor of Arts in English from New York University and an Associate of Arts from the American Academy of Dramatics Arts, New York City.

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