Learning to drive and getting your first car is a big part of growing up—it’s like finally getting your freedom.
Unfortunately, maintaining that freedom comes at a price: high car insurance rates.
Most car insurance companies consider high school and college-aged drivers “high risk” because of their relative inexperience as drivers. This usually leads to astronomically high car insurance rates that can leave a lot of students wondering why they ever needed a car in the first place.
Don’t worry, though! A lot of car insurance companies are willing to offer discounts to full-time students in high school or college who get good grades. Insurance companies believe responsible students translate into responsible drivers.
Read ahead to see how you could be eligible and which companies offer the “good student” discount. But if your grades are less than stellar, you could still save on car insurance—check out the discounts at the bottom of the page!
Before you read on remember: the best, easiest way to find cheap car insurance is to compare rates among companies. This takes very little time if you use a car insurance quotes comparison website like Insurify, which lets you compare prices between up to 20 different companies at a time!
Are you eligible for a good student discount?
Most auto insurance companies require drivers to fit the following profile to be eligible for the good student discount:
- Between the ages of 16 and 25
- Full-time high school or college student
- Maintains a 3.0 or B grade point average
Some companies additionally require you to be on your school’s honor roll or dean’s list or earn a similar accolade.
If you’re a homeschooled student, you may still be eligible for good student discounts if you performed well in standardized tests like the PSAT, SAT, or ACT. Typically, companies stipulate that you must score in the 80th percentile to be eligible for this discount.
Insurance companies have varying policies on how to send over proof of how “good” of a student you are, but generally you will have to email a copy of your current grade card, transcript, or a form signed by your school’s administrator to your insurance agent.
Companies with Good Student Discounts
Below is a list of auto insurance companies with the most generous good student discounts:
|Company||Good Student Discount|
|Allstate||Up to 35%|
|State Farm||Up to 25%|
|American Family||Up to 25%|
|Liberty Mutual||Up to 22%|
|Safeco||Up to 16%|
|GEICO||Up to 15%|
|Nationwide||Up to 15%|
|AAA||Up to 15%|
|Progressive||Up to 10%|
|Esurance||Up to 10%|
Companies with Student-Away-at-School Discounts
If you’re a student at a college or school in another city or state from where you keep your car, you may be eligible for “student-away-at-school” or “resident student” discounts. These substantial discounts could mean a very cheap car insurance rate for you and your family. While requirements vary between providers, generally, if you attend school over 100 miles from where you keep your car, you should be eligible for the following discounts:
Company Good Student Discount
AAA Up to 30%
American Family Up to 25%
Auto-Owners Up to 25%
Safeco Up to 20%
USAA Up to 20%
Progressive Up to 10%
MetLife Up to 10%
Allstate Up to 5%
State Farm Varies
Liberty Mutual Varies
When you compare rates on Insurify, these discounts will automatically be added to your profile depending on the information you provide. You can then compare car insurance rates and discounts between multiple companies in the same place!
More Car Insurance Discounts for Students
If you aren’t eligible for the good student discount or the student-away-at-home discount, you could still find ways to lower your auto insurance rates through these discounts:
|Discount||Who offers it?||Requirements|
|Multi-Policy Discount||State Farm, Allstate, Esurance, Liberty Mutual; Most car insurance companies||If you bundle your renters insurance with your car insurance policy, you could get up to 30 percent off.|
|Multi-Car Discount||State Farm, Allstate, Esurance, Liberty Mutual, Progressive, GEICO; Most car insurance companies||If you insure multiple cars on the same policy, you could get a substantial discount. Consider getting a car insurance policy with your roommates or family members.|
|Driver Training Discount/teenSMART Discount||AAA, Allstate, American Family, Erie, Esurance, Farmers, MetLife, Safeco, State Farm, Westfield, among others.||Drivers (usually under 25) who complete an accredited driver’s education course can get a discount between 10 and 15 percent.|
|Safety Features Discount||Progressive, Clearcover, Liberty Mutual, State Farm, GEICO, among others.||If your car has anti-theft devices, extra airbags, anti-lock braking, electronic stability control, and other safety features, you could get a hefty discount.|
|Alumni Discount||Progressive, GEICO, Liberty Mutual, State Farm, among others.||Depending on where you attended high school or college, you could get a discount from certain car insurance providers.|
The Easiest Way to Find Cheap Car Insurance for Students
Between student loans and everyday expenses, being a student is already expensive, add in the sky-high car insurance premiums, and it can seem impossible to save. And a whole new set of expenses appear for recent college graduates.
But it doesn’t have to be that way. You could be saving $1,000 a year on car insurance by using Insurify to compare rates. All you have to do is answer a few basic questions, and you can compare rates from 20 different companies at a time—for free!