GEICO strongly recommends that you take defensive driving courses, and in turn, you could qualify for a discount that allows you to enjoy a cheaper car insurance policy. The amount you save varies by company and state, but you could save hundreds of dollars on your car insurance policy with these discounts. Car insurance companies can offer a good student discount if you've earned a 3.0 grade point average. Ask your insurance company or agent about discounts on auto insurance and be sure to maximize any savings you can.
A good student discount can reduce a good portion of your car insurance premium, depending on the state and the car insurance company. Auto insurance discounts for students usually require a minimum level of qualification, but some auto insurance companies also offer other ways to save. A young driver who takes out their own auto insurance policy is likely to cost more than parents to add it to an existing policy. Adding a young driver to your car insurance policy can increase costs even more than if you had an accident, were fined for speeding, or were arrested for driving while intoxicated.
What an insurance company considers a “good student” varies, but it can be a great way to save money on your car insurance costs. An inexperienced driver with their own policy is risky for an auto insurance company, while being added to an existing policy with experienced drivers is considered lower risk. With so many options for car insurance companies, it can be difficult to know where to start to find the right car insurance. The average discount for good students is 4%, which can help offset the significant increase in the car insurance rate that can be expected when adding a young driver.
Auto insurers consider this situation to be less risky than if the young driver was driving the vehicle at home. The most common types of student auto insurance discounts include the good student discount, the discount for students away from home, and your child's enrollment in an approved driver training program. The best student discounts on car insurance are the discount for good students and the discount for students away from home. Parents can expect to pay double or more for car insurance after adding a young driver to their policy.