Data from an auto policy quote provider showed the two insurers offer the most attractive deals.
Popular car policy quote provider, 4AutoInsuranceQuote, there are two insurers that stand out for their good student insurance discounts: Allstate and State Farm.
The founders of that website posted an article meant to help parents to save more on their kids’ coverage.
The founders of the car insurance quote service published the article to show parents the best opportunities for good student insurance discounts. They illustrated the way that parents can save a lot of money on insuring their young driver teens. They acknowledged that younger drivers are typically quite expensive to insure. In fact teens are usually the demographic with the highest car insurance premiums. This can be stressful to a family’s budget, so discounts can make a notable difference.
The founders of that website focused on one specific type of discount, which was a reward for students who earn good grades. They examined the types of savings offered by a number of top insurers in the country and determined that Allstate and State Farm were the top companies in terms of the savings opportunities they offered to both high school and college students getting top marks.
Good student discounts from Allstate were up to 35 percent and from State Farm were up to 25 percent.
“State Farm claims students who maintain good grades can save up to 25 percent,” said the article, as quoted by Yahoo Finance. This opportunity was available to students right through their college graduation or until they turn 25 years old while still a student.
On the other hand, “Allstate offers the biggest potential student discount on this list. Allstate claims students who maintain good grades can save up to 35 percent on car insurance,” said the article.
This is not only a substantial opportunity to save money, but it can also be a substantial motivator for students to do well. In order to be deemed a good enough student to obtain discounts, insurers usually require the policyholder to maintain a B average or a GPA of at least 3.0. This means that qualifying for a discount is certainly possible for many students and is not limited to only those who are valedictorian contenders.
Other insurers identified by the site as offering good student insurance discounts included GEICO, Progressive, USAA, Liberty Mutual, and American Family.