Teens, as well as young adults, often deal with very expensive vehicle insurance costs. This is in large part because, statistically, they have less experience and so are more likely to have accidents. Most insurance companies provide an option to combat these significantly higher rates. They accomplish it by offering a good student discount to eligible drivers. Read on to learn more.
What Is It?
Carriers give the good student discount to reward students monetarily for their scholastic success. This discount helps alleviate costs for current full-time students that maintain a 3.0 GPA or higher.
Good Student Discount Qualifications
Specific qualifications vary from state to state. Different providers also have different requirements. However, most carriers generally require students to meet the following requirements:
- Be single and under the age of 25
- Have less than 8 years license experience
- Maintain at least a 3.0 GPA or a B average
- Presently enlisted full time in high school or college
- Provide documentation supporting the discount (note: the student must maintain the GPA through each renewal or the discount will not apply).
How Can I Get This Discount?
In order to get and maintain the good student discount, you will need to present both proof of current enrollment and evidence of a qualifying GPA. This evidence can be provided to your insurance agent in the form of a transcript, a report card, or a letter from a college administrator.
When it comes to a home-schooled student, they can still qualify but you will be required to show proof of academic success by providing a letter signed by a home-schooled certifying body, such as a district official or the State Department of Education.
Are you or anyone you know ready to benefit from the Good Student Discount? Please get in touch with TPG today at 909-466-7876 and we’ll be happy to tell you about this discount and perhaps more discounts you might be eligible for! Also, visit our Auto Insurance content at your earliest convenience to learn more about protecting your car.