Should I Keep My College Student on My Policy?
Introduction
Covering a student-age driver on your auto insurance policy can be challenging due to the high cost of insuring young drivers. Drivers aged 16 to 25 pay nearly 80% more per year than the average driver, averaging $1799 per six-month policy compared to the U.S. average of $1004. However, many auto insurance companies offer discounts for students with a GPA of 3.0 or higher, which can help reduce these costs.
Best Discounts for Students on Auto Insurance
Farmers
To qualify for the Good Student Discount:
- Age: 16-24
- Enrolled full-time in school
- Maintain a "B" average or better
- Dean's List or Honor Roll inclusion also qualifies
Image Description: Illustration showing Farmers insurance discount for good students.
Nationwide
Nationwide offers discounts for:
- Students residing 100 miles or more from their parents' home
- Assumes less frequent vehicle use, reducing claim likelihood
Image Description: Illustration showing Nationwide discount for students away from home.
Liberty Mutual
Liberty Mutual offers:
- Discount through alumni association or professional affiliation
- Package savings for students away from home
- Must live within 100 miles of the residence listed in the policy
Image Description: Illustration showing Liberty Mutual's discounts for students.
Allstate
Allstate provides a Good Student Discount for:
- Ages 16-24
- Maintain a "B" average or better
- Home-schooled drivers must show proof of performance at the 20th percentile or higher on PSAT, SAT, or ACT
Image Description: Illustration showing Allstate's good student discount.
GEICO
GEICO offers three ways for students to save:
- Good Student Discount: Maintain a "B" average
- Good Driver Discount: Maintain a clean driving record for five or more years
- Affinity Membership Discount: Member of a fraternity, brotherhood, or honor society
Image Description: Illustration showing GEICO's student discounts.
State Farm
State Farm provides various student discounts, including:
- Steer Clear Program: Complete a lesson plan, driving practice, and mentor registration for a certificate of safe driving
- Discounts for good drivers and students with a GPA above 3.0
Image Description: Illustration showing State Farm's Steer Clear program.
Progressive
Progressive offers a Good Student Discount for:
- Students maintaining a "B" average or better
- Drivers enrolled at a university aged 22 years or less
Image Description: Illustration showing Progressive's good student discount.
USAA
USAA provides discounts for:
- Ages 16-25
- Full-time students
- Ranked in the top 20% of the class
- GPA above 3.0
Image Description: Illustration showing USAA's good student discount.
Cheapest Auto Insurance for Bad Students
Not qualifying for a Good Student Discount does not mean you can't find affordable auto insurance. Compare multiple options as different companies use various rating factors to determine premiums.