Discounts Available For Young Drivers
Youngsters are considered high-risk drivers and have to pay pricier premiums. But some discounts will help them recover some money. Read our blog and find out the best discounts available for young drivers. Also, visit our website and get an online auto insurance quote.
- Good student discount. Many insurance companies offer a discount for students who get good grades in school, based on the assumption that the discipline it takes for academic success correlates with safe driving. It’s common for these discounts to extend into graduate-school years. Geico gives up to 15% off some coverage for full-time students as old as 25 who are earning B grades or better. Allstate offers discounts of up to 20% for full-time students with good grades up to age 25.
- Student-away discount. College students and high school students in boarding school who live away from home without their car can earn a discount based on the fact that they drive less and are therefore less likely to get in an accident. Amica Insurance has a discount that increases as the distance from home increases. Allstate offers discounts of up to 35% for students who live at least 100 miles from home.
- Legacy discount. Several insurance companies offer a “legacy” discount for the young adult children of longtime policyholders. For example, USAA (which insures active and retired military personnel) has a discount of up to 10% for policyholders who are under 25 and have been covered on a parent’s USAA policy for at least 3 years.
- Alumni discount. If you’re a recent college graduate and don’t qualify for a good-grades discount and you have a car that’s with you instead of at your parents’ house, you can still get a discount related to your academic career. Many colleges have negotiated special alumni discounts with certain insurance companies.
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