How Much Money You Save With Good Student Discount
Teens pay a higher auto insurance rate because of that age group’s accident statistics. National Highway Traffic Safety Administration studies show that on average, drivers under age 20 have more accidents, drive faster and are easily distracted when compared with older drivers. However, several factors can help younger drivers reduce their rates, including having really good grades. But how much money can you save with good student discount? Check the following blog and get car insurance quote from our website!
Good students can often get at least a 15 percent savings on insurance premiums. Depending on your insurance company, this discount can go as high as 25 percent. This means you can save hundreds of dollars in several years, assuming that you keep the good grades throughout the entire college. Not all insurance companies offer a discount for good students, so shop around until you find one that does. If you’re on your parents’ insurance and your siblings also get good grades, you might not get the full discount or you may not get it at all. This is why it is so important to talk with your insurance company about this discount.
According to insurance companies, students with good grades spend more time at home studying and less time out driving. Insurance carriers also say that a good student makes better choices, which translates to better decision making behind the wheel. A good student is also seen as more responsible, making her a better insurance risk than other less-studious classmates.
You may qualify for the discount if you’re a full-time student aged 16 to 24 with a B average or 3.0 grade point average. A recent report card is enough to prove you qualify for the discount. If you get the discount, the insurance companies will require you to provide regular updates on your grades. When your grades drop, the discounts will be cancelled.
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