Save on Your Teen’s Car Insurance With a Good Student Discount

Did you know the State Farm Good Student Discount (or ones offered by other car insurance providers) can help you or your child save on car insurance? Here’s how!

Those good grades pay off! Save money with a Good Student Discount for your car insurance. 📚🚘

If you have a young driver at home, then you know that car insurance can be costly. Forbes recently conducted an analysis of 147 different car insurance companies and found that adding a young driver to your household will cost you an average of $1,830 a year! These rates may not decrease much until your child turns 25 years old. That’s a lot of money to spend!

Parents have enough to worry about without adding the extra burden of high car insurance bills. Fortunately, if your kiddo has been achieving good grades, there may be a way to save. You may have heard of the State Farm Good Student Discount or the incentives offered by other car insurance providers. These discount programs can usually save you anywhere from 3% to 25%.

If you’ve been overpaying for car insurance (or looking for an incentive to get your child to study), here is a list of car insurance companies that offer discounts to high-performing high school and college students.

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Car insurance companies with a Good Student Discount:

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1. State Farm Good Student Discount can save you up to 25%.

If you have a high-achieving student at home, State Farm will offer them up to a 25% discount on car insurance. According to Forbes, State Farm offers one of the highest discounts on our list, and that’s not the only way they will help you save either!

If your child is under 25 years old and has not had a moving violation in 3 years, they can save up to 15%. You can also use the State Farms Drive Safe & Save app to save your household members up to 30%. Lastly, young drivers may save on the cost of insurance if they live away at school and only uses their car during school vacations and holidays.

Call your agent to see if your child qualifies for any of these helpful perks.

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2. The Progressive Good Student Discount is for students with a “B” average or better.

Students 23 and under with a “B” average are eligible for Progressive’s Good Student Discount which is usually about 10%. To qualify, the student must be under someone else’s insurance policy, like their parent’s.

Progressive also offers discounts to teen drivers and to students aged 22 and under who live more than 100 miles from their homes. Talk to your Progressive agent for more information.

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3. The Geico Good Student Discount makes car insurance more affordable for high school and college kids.

This insurance company claims that students can save up to $200 by switching to Geico, and they have some of the most affordable premiums on our list. To make their low rates even better, Geico has a Good Student Discount available to students who can maintain a “B” average or better. Also, if a student is under the age of 22 and has not had an accident in the past 5 years, they also qualify for Geico’s Good Driver Discount.

In addition to the discounts above, the student might be eligible for other special rates. These include membership discounts for sororities, fraternities, honor societies, alumni organizations, and other student organizations. Contact a Geico agent today to see if these discounts are available in your state.

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4. Students with a 3.0 GPA or better qualify for the AAA Good Student Discount.

AAA offers a plethora of ways that your household can save on car insurance. One of these ways is the Good Student Discount. Students with a 3.0 GPA or better are eligible and can expect to save around 10%.

AAA also has a Teen Smart Discount. If you have a new driver, they have until age 19 to complete the program and receive a discounted rate. Visit AAA’s website for more information.

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5. The USAA Good Student Discount is available to those aged 16 to 25.

USAA is an insurance company that serves military veterans and their families. To be eligible for the USAA Good Student Discount, one must be a full-time student and between the ages of 16 to 25. The discount is not automatically renewed so the driver in your family will need to apply each year.

Each student must satisfy one of the following requirements:

• Be in the upper 20% of their class
• Maintain a B-average or higher
• If a number scale is used, the student must be ranked a 3 out of 4 points
• Be on the dean’s list or the honor roll

Fill out this form to apply. According to GetJerry, the discount is 3% off a policy. That might not seem like much, but USAA tends to have lower starting rates than many of the insurance companies on our list.

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6.  The Allstate Good Student Discount qualifications are the most lenient on the list.

The Allstate Good Student Discount is actually called the Smart Student Discount. It’s the most flexible policy on the list. A student only needs to be unmarried, under 25 years old, and meet one of the following requirements:

• Maintain a 2.7-grade point average or higher
• Successfully completed the teenSMART driver education program
• Attend a school over 100 miles away from where your car is garaged

Contact Allstate for an exact quote.

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7. The Nationwide Good Student Discount is available to “B” students under the age of 24.

If you have a high-achieving student at home, help them save on their Nationwide car insurance. Students under the age of 24 that maintain a “B” average are eligible for the discounted rate. These students must provide proof by showing their report card or getting a signed form from a school administrator.

Those who are homeschooled can snag the discount by showing they scored in the top 20% on a standardized test like the ACT or SAT. For more information, contact a Nationwide representative.

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8. The Liberty Mutual Good Student Discount is just one of many discounts offered by the company.

Student drivers with a “B” average qualify for the Good Student Discount at Liberty Mutual. If they live at school and only use their vehicle on school vacations and holidays, they might also qualify for the Student-Away-At-School Discount.

It’s usually the most cost-efficient to add a student driver to a parent’s insurance policy, given that the parent is also a good driver. If you take this route, your family may also qualify for Liberty Mutual’s Multi-Policy or Multi-Car discounts.

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9. Show proof of performance to get The Farmer’s Good Student Discount.

Farmer’s offers a Good Student Discount to drivers aged 16 to 24. To qualify, one must be a full-time student in high school or college. Your school records will be used to prove one of the following:

• Ranked 20% or higher in your class
• Had a grade of “B” or better for the immediately preceding term
• Had an average of 3.0 for the immediately preceding term or cumulative for all subjects combined
• Was included on the “Dean’s List” or “Honor Roll”

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10. Save money with the American Family Insurance Good Student Discount.

American family offers a ton of discounts to help you save. One of these discounts is their Good Student Discount. To get the deal, students must be:

• A full-time student in high school, community college, four-year college, online university, or vocational school
• Be between the ages of 16 and 25
• Maintain a “B” average of rank in the top 20% of the class
• Be on the “Dean’s List,” “Honor Roll,” or comparable list that signifies academic achievement
• If homeschooled, rank in the top 20% on most recent standardized tests like the SATs or ACTs

The amount of the discount will vary by state. Speak to an American Family Insurance agent to get a quote. Don’t forget to ask about other discounts for young drivers. American Family Insurance offers many.

For example, complete the Teen Safe Driver program to qualify for a 10% Teen Driver Discount. Volunteer at a non-profit for 40 hours a year to qualify for the Young Volunteer Discount. Students under 25 who live 100 miles from where their car is garaged can save big with the Away At School discount. Also, if a family has multiple generations with insurance policies at American Family Insurance, the student may qualify for the Generational Discount.

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11. Show proof to score the Travelers Insurance Good Student Discount.

Travelers Insurance generally offers the Good Student Discount to those with a “B” grade average or who rank in the top 20% of their class. Show proof with items like a report card, Honor Roll certificate, or a signed homeschool certification signed by the parent and homeschool certifying body. There may be age restrictions or other exceptions that disqualify a student from this special rate so talk to your Travelers Insurance agent for more information.

Like the other insurance companies on the list, Travelers also has an Away At School Discount for students who live 100 miles from where their car is garaged. Plus, the company offers a plethora of other discounts like an Electric/Hybrid Car Discount, a Safe Driver Discount, a Driver Training Discount, and a New Car Discount.

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