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Which companies offer the best discounts for students on auto insurance?
If you cover a student-age driver on your auto insurance policy, or you are yourself, it can be difficult to find affordable coverage. Given their lack of driving experience, drivers ages 16 to 25 pay nearly 80 percent more per year than the average driver: $ 1,799 per six-month policy, compared to the United States average of $ 1,004. . Although this rate hike varies from state to state, most auto insurance companies offer discounts for students with a GPA of 3.0 or higher. Along with a good discount for drivers, a good discount for students can generate savings of $ 186 per year in car insurance.
The above figures are not specific to the insurance company or the state, so there will be price variability. Here are some of the companies and what type of discount can get.
Farmers
To get the Good Student Discount, a driver must be between 16 and 24 years old, enrolled in school full time and maintaining an average grade of "B " or better. Earning Dean's List or Honor Roll inclusion also qualifies a student for the Farmers discount.
Nationwide
Nationwide offers the discount for students residents who leave their vehicles at their parents' house. The discount is eligible for policyholders with a college student residing 100 miles or more from their parents' home. The Nationwide discount is based on the assumption that this student driver will not use the vehicle as frequently, making it less likely that he will file a claim.
Liberty Mutual
Liberty Mutual announces two ways for students to save on auto insurance: discount membership through an alumni association or professional affiliation and a package savings for students away from home. The first requires that you live within 100 miles of the residence listed in the policy.
Allstate
Allstate gives a discount for good students. Eligible drivers must be 16-24 years old and maintain an average grade of "B" or better. Home schooled drivers must show proof of performance at the 20th percentile or higher on the PSAT, SAT, or ACT.
GEICO
GEICO offers three ways to get a student discount on auto insurance. A discount membership affinity, un good student discount and a discount for good drivers.To get a good student discount, you must maintain a "B" or better average. To qualify for good driver savings, you must maintain a clean driving record for five or more years. To receive affinity membership insurance benefits through GEICO, you must be a member of a fraternity, brotherhood, or honor society.
Progressive
The discount for good students Progressive require ongoing maintenance of a "B" or better GPA level. Offering savings for college students Progressive are eligible for enrolled at the University of drivers 22 years or less.
State Farm
Aside from its standard student discounts, State Farm offers a unique way to save for young drivers. State Farm's Steer Clear program allows young drivers to obtain a certificate of safe driving through a mobile app. The program requires:
- Completing a five-course lesson plan.
- Five hours of driving practice (up to 10 trips).
- Mentor Registration Completion
State Farm does not announce an exact discount rate available through its Steer Clear program. State Farm offers discounts for out-of-home students,good drivers, and good students. To get the good State Farm student discount of up to 25 percent, a driver must keep their GPA above 3.0.
USAA
State Farm does not announce an exact discount rate available through its Steer Clear program. State Farm offers discounts for out-of-home students,good drivers, and good students. To get the good State Farm student discount of up to 25 percent, a driver must keep their GPA above 3.0.
- Ages 16 to 25
- Full-time student
- Ranked in the top 20% of the class
- Greater than average B (3.0 GPA)
The cheapest auto insurance for bad students
Not qualifying for a discount for good students does not necessarily mean that can't find cheap auto insurance. Compare by weighing as many options as possible: Various rating factors are used to determine your insurance premium, and different companies will value policies differently based on these factors.
