Student Car Insurance: Discounts and Coverage
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UPDATED: Jul 15, 2021
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Whether you are a student in high school or college, you are going to be in a high risk category for the purposes of your car insurance. Young people face higher car insurance premium payments, and will do so until 25 years old. Fortunately, there are ways that students can save money on their car insurance that you can take advantage of.
TIP: Insurance for students can be pricey, but you can reduce your car insurance rates by showing that you are a responsible student, person, and driver. When shopping for student car insurance, look for discounts that you can qualify for.
Are You a Student?
Some people can be students well into their 30’s, so whether or not you are considered a student for the purposes of getting a student discount on car insurance may not be simply as cut and dry as being in school. The high risk category that includes most students is actually based on age, not whether or not someone is in school. Typically, a car insurance company will consider a young driver to be high risk if they are under the age of 25, which is where high school, college, and even some advanced degree students usually fall.
TIP: If you are under the age of 25, and you are a student, then you may qualify for student car insurance discounts to help you reduce your premium payments. If you belong in this group, look for discounts when getting your student car insurance quote.
Common Discounts on Student Car Insurance
Each auto insurance company is different, and as such will offer different discounts on your student auto insurance. When shopping, get as many quotes so you can compare them to find the best price, and consider the following common ways to save money:
- Good Student: The most common discounts for students is one offered for those who perform well in school. If you maintain a good Grade Point Average (GPA), then most car insurance companies will take money off your premium payments. Typically, car insurance companies require a GPA of 3.0 or above in order to qualify for the good student discount.
- Driver’s Education: Typically, this is available only to students who are new drivers, and is offered if you have taken and completed a driver’s education course approved by your insurance company. Sometimes these courses are online, and sometimes they require you to get driving instruction. When getting a quote for student car insurance, ask how you can get a driver’s education discount.
- Stay on Your Parent’s Plan: An option to reduce your insurance is to be on a plan with experienced drivers like your parents. Typically, this option is only available for students who still live with their parents, however, if your parents still claim you as a dependent on their taxes then you may be able to remain on their insurance plan.Ask their insurance provider how you can remain on your parent’s plan and save money.
- Miscellaneous Tips: In addition to the primary ways you can save money, some insurance companies offer discounts for things like:
- Living close to the school in an effort to reduce your driving
- Getting an old car, or a car with safety features that prevent damage in an accident
- Going to college in a rural area where insurance rates are lower
- Driving carefully and establishing a good driving record
TIP: Regardless of what discount you qualify for, keep in mind that any traffic accident or citation can result in you losing the discount and paying more for your premium. Drive safely and obey the laws of the road to avoid an increase in your student car insurance!
When you are purchasing student car insurance, there are a number of discounts available to you. Further, there are some companies that tend to have lower rates for young people, and you will only be able to take advantage of your cost-saving opportunities by comparing several student car insurance quotes before buying.
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