Good Student Car Insurance Discount: How to Qualify, Potential Savings, and More
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Written byMandy Sleight
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Mandy Sleight has over 15 years of insurance knowledge and expertise in auto, home, life, health, pet, supplemental benefits, and other insurance products. She’s a sought-after insurance expert, appearing in Bankrate.com, Moneygeek.com, U.S. News & World Report, Reviews.com, CNET, and other publications, and she's been writing for Compare.com since 2023.
Mandy uses her background and experience working for well-known insurance companies like State Farm and Nationwide Insurance to create engaging and easy-to-understand content that helps readers make smarter insurance choices that have a positive effect on their budgets and finances.
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Edited byLequita Westbrooks
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Lequita WestbrooksSenior Editor
Lequita Westbrooks is an insurance editor at Compare.com. Her writing and editing experiences span several industries, including insurance, personal finance, higher education, and more. She excels at explaining complex topics like auto insurance in simple, easy-to-understand language and is passionate about helping readers save money. Lequita graduated from the University of South Florida, where she earned her Bachelor’s degree in English.
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Getting and maintaining good grades is an accomplishment you should be proud of. For your hard work, many car insurance companies offer a good student discount if you’re a full-time student with a B average or above.
Though discount amounts vary by insurer and state, eligible students (and their parents) can save up to 35% on car insurance premiums. We found that insurers like COUNTRY Financial, State Farm, and GEICO offer some of the highest discounts.
Keep reading to learn how and where to get a good student discount and other ways you can save on your auto policy.
How Much You Can Save With a Good Student Discount
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The amount you can save with a good student discount depends on your state and auto insurer. Most companies advertise good student discount savings ranging from 10% to 35%. COUNTRY Financial has the largest discount we found, providing up to 35% savings for eligible full-time students.
Unfortunately, some car insurance companies don’t advertise how much you can save with a good student discount. If you have a teen driver or full-time college student in your household, it’s worth asking your insurance agent if your company offers this discount, how much you can save, and how to qualify.
How to Get a Good Student Discount
Here are some general criteria you must meet to get a good student discount:
Be a full-time high school or college student under age 25
Earn a B average (3.0 GPA) or better
Rank in the top 20% of your class
Make the honor roll or the dean’s list
Choose a company offering a good student discount
Qualifications can vary by insurance company. For example, Progressive offers the discount only to students younger than 23 who are on their parents’ policies. USAA will accept full-time students who are also in technical or vocational schools and will take your word that you qualify in most states (rather than require proof of grades).
Since most insurance companies require proof of good grades to get this discount, you usually have to add it to your policy by calling or visiting your insurance agent or company. Acceptable proof can include a copy of your most recent report card, standardized testing results, a signed form from a school administrator, or an honor roll certificate.
Where to Get a Good Student Discount
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The good student discount is relatively common and available from most car insurance companies. But remember, the amount you can save on your auto insurance policy depends on your state and company.
We highlight several insurers and each company’s advertised discount amounts in the table below.
Company ▲▼ | Advertised Discount ▲▼ |
|---|---|
| COUNTRY Financial | Up to 35% |
| State Farm | Up to 25% |
| GEICO | Up to 15% |
| AAA | Up to 14.5% |
| USAA | Up to 10% |
| Progressive | Average of 10% |
| Liberty Mutual | Varies |
| Allstate | Varies |
| American Family | Varies |
| Farmers | Varies |
| Nationwide | Varies |
| Travelers | Varies |
Teens and young adults pay more for car insurance than any other age group because of higher rates of risky behaviors like reckless driving, driving under the influence, and not wearing a seat belt, according to the National Highway Traffic Safety Administration (NHTSA).
For this higher-risk age group, discounts like the good student discount can make your car insurance more affordable. Comparing quotes from companies with the largest discount can help you find lower rates.
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Which companies offer the largest good student discounts?
Just as car insurance quotes from different companies vary — even when comparing the same coverage options, limits, and deductibles — so can savings opportunities. If you or your child qualifies for a good student discount, it’s worth getting quotes from companies offering the largest discount to get the lowest rate for your coverage needs.
The following three companies have the largest advertised good student discounts, according to our research.
COUNTRY Financial
Advertised discount amount: Up to 35%
COUNTRY Financial offers the highest good student discount of any insurer — up to 35% for eligible full-time students. Teen drivers must earn at least a B average or better to qualify. College graduates under 25 can earn an additional discount once they send a copy of their degree or college transcripts to the insurance company.
State Farm
Advertised discount amount: Up to 25%
The State Farm good student discount is available for teens and young drivers up to age 25, providing up to 25% in savings on your car insurance premium.
Full-time students should provide their latest report card to their State Farm agent showing a B or above GPA to earn the discount. Homeschooled students can also qualify by submitting standardized test results from the last 12 months showing they rank in the top 20% nationally.
GEICO
Advertised discount amount: Up to 15%
With the good student discount through GEICO, full-time students can save up to 15% on specific insurance coverages (in most states). The only qualification is a grade point average of B or better.
You can also qualify for a good driver discount if you haven’t had an accident in the last five years and an affiliation discount if you’re a member of a student organization, college, university, fraternity, or sorority.
How to Maximize Your Good Student Discount Savings
Qualifying for a good student discount is a great way to lower your auto insurance cost. Here are some other ways students can get cheap car insurance:
Drive an older car: If you drive an older vehicle that you’ve paid off and isn’t worth much, you may not need full-coverage insurance. Liability-only insurance is around half the cost of full coverage, according to Compare.com data, so it could lead to substantial savings. That said, it may only make sense if you can afford to repair or replace your car out of pocket.
Consider your deductibles: If you need full coverage, you can save money on your premiums if you choose a higher deductible for comprehensive and collision coverages. Just make sure you can pay the higher amount if you have to file a claim.
Stay on your parents’ insurance policy: Adding a child to a parent’s car insurance policy is usually cheaper than a new driver getting their own policy. Compare both options to see which is best for your specific needs.
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Other Common Car Insurance Discounts
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The good student discount isn’t the only car insurance discount young drivers can qualify for. Here are a few other available discounts you may be eligible for to get lower insurance rates:
Teen driver: Some insurers offer a discount for drivers 18 and younger.
Safe driver: You can get a good driver discount by avoiding car accidents and being violation-free.
Student-away-at-school: Full-time college students who go to school at least 100 miles away from home and don’t take a car with them can qualify for the student-away-at-school discount.
Multi-car: Insuring more than two vehicles with the same insurer qualifies you for a multi-car discount.
Multi-policy: To get a multi-policy discount, bundle your car insurance with other insurance products from the same company, such as homeowners, renters, boat, or life insurance.
Good Student Discount FAQs
We answered the most common questions about the good student discount to help you understand how to qualify.
What’s the maximum good student discount percentage?
COUNTRY Financial offers up to 35% savings for its good student discount, making it the highest percentage, according to our research. But most insurance companies don’t advertise the exact savings amount, so it’s a good idea to ask your insurance agent how much you can save.
How do you get a good student discount?
To qualify for a good student discount, you usually have to be between the ages of 16 and 25, be in school full-time, have a B average or above, be in the top 20% of your class, or be on the dean’s list or honor roll.
How do you know if you qualify for a good student discount?
You’ll likely qualify if you’re under 25 years of age, are a full-time student, and have a B average or better. But qualifications can vary by insurer, so it’s worth discussing qualifications with your insurance agent.
What GPA is good for an auto insurance discount?
Most auto insurance companies require a minimum B average, or 3.0 GPA, to get a good student discount. You can also usually qualify if you’re in the top 20% of your class, even if your GPA is lower. Homeschooled students can also qualify if they’re in the top 20% range for national standardized testing.
Does being a student decrease car insurance costs?
Potentially. Teens and young drivers under 25 are among the most expensive to insure, but being a full-time student with a B average or above can make you eligible for a good student discount. It can decrease your cost of car insurance by up to 35%, depending on your state and insurance company.
Sources:
National Highway Traffic Safety Administration, “Traffic Safety Facts Young Drivers,” accessed October 14, 2024.
Insurance Information Institute, “Auto insurance for teen drivers,” accessed October 14, 2024.
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Mandy SleightInsurance Writer
Mandy Sleight has over 15 years of insurance knowledge and expertise in auto, home, life, health, pet, supplemental benefits, and other insurance products. She’s a sought-after insurance expert, appearing in Bankrate.com, Moneygeek.com, U.S. News & World Report, Reviews.com, CNET, and other publications, and she's been writing for Compare.com since 2023.
Mandy uses her background and experience working for well-known insurance companies like State Farm and Nationwide Insurance to create engaging and easy-to-understand content that helps readers make smarter insurance choices that have a positive effect on their budgets and finances.
Lequita WestbrooksSenior Editor
Lequita Westbrooks is an insurance editor at Compare.com. Her writing and editing experiences span several industries, including insurance, personal finance, higher education, and more. She excels at explaining complex topics like auto insurance in simple, easy-to-understand language and is passionate about helping readers save money. Lequita graduated from the University of South Florida, where she earned her Bachelor’s degree in English.