Student Driver Auto Insurance Discounts
Reader's Question:
Hi! I am a student from Kansas. I heard about student auto insurance discounts on premiums. What makes a student eligible for this discount? Please tell me more about this.
Venice
Topeka, KS
Yes, most companies do give incentives or student auto insurance discounts for students who have good scholastic records. Most refer to it as "good student discounts or better grades, better premiums policy." It is the auto insurance companies' notion, and statistics proved it for them, that there is a relationship between academic excellence and good driving. Statistics show that high achievers or scholars would most likely prove to be better drivers in the future. This is the basis for giving discounts on students who have good grades. It is because they are at low risk for accidents and are more likely to follow traffic rules.
A student may be eligible to enjoy this student auto insurance discount if he or she is able to maintain a high GPA of (3.0) or at least an average of B. Most auto insurance companies these days will give a reasonable offer of around 10 percent to 25 percent of discount to qualified individuals. The discounted price will be due to your academic performance, as the policy of "better grades, better premiums" implies. If you managed to pull an A average, then you are eligible for higher discounts, some going as high as 25 percent. The amount of discounts you can avail of range from around 10% to 25% depending on your academic standing. For example, auto insurance companies may give a considerable 15% off on premiums under the following condition: any unmarried and full-time students with ages ranging from 16 to 24 years who have good scholastic records, a dean's lister or a student in the honor roll. However, students should maintain their grades in order to continue enjoying this student auto insurance discount because if their grades go down the required average, then so will their discounted premiums on their student auto insurance.