Finding a good student discount for auto insurance

College Student Insurance

College Student InsuranceCar coverage premiums can be decreased with a strong academic performance.

As the economy continues to struggle, Americans are looking to find new ways to make their money stretch further, and as a part of this, many parents are looking into a good student discount for the auto insurance coverage on their children who have a solid academic performance.

Full time university, college, and high school students may qualify for this savings

Most auto insurers will only apply it to scholars who are aged 25 or younger. The maximum amount that the premiums will be reduced will vary per company, and per state, as each has its own guidelines and regulations.

That said, there are some car insurance companies that will base the years that a good student discount can be applied to the length of time that a driver has had his or her license, as opposed to a specific age range. For example, some will allow a student of any age to apply the savings, but only when he or she has been driving for eight years or less.

Of course, this reduction in premiums can be achieved only if the individual is indeed earning strong grades at school.

Among the requirements that will usually need to be met to benefit from this lower rate are the following:

• A position on the honor roll, dean’s list, or similar academic achievement recognition
• An average of B or higher in the most recently completed semester
• A grade point average of at least 3.0 (out of 4.0) in the most recently completed semester
• A top 20 percent ranking within his or her class
• A top 20 percent ranking from his or her SAT scores
• A top 20 percent ranking from his or her PSAT scores
• If the student is home schooled, equivalency standardized exam results can be applied toward eligibility.

Individuals who performed very well academically and who have recently graduated may be able to maintain their good student discount through insurers who permit this savings to carry on. Though some carriers require a strong final year’s average, others will look into a more cumulative record.


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