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How To Get Teen Driver Discounts

Teens and automobile insurance can be a costly combo. Adding a teenager to your car insurance policy can cause your premiums to jump 50 percent or even double, according to the Insurance Information Institute. That’s because teens are deemed high-risk, a thing reflected by statistic data for their age group.  Insurers charge higher rates for teens than for any other group of drivers, but teen driver discounts and other measures can help cut the costs. Find out how to get teen driver discounts.

carautoStudying hard and getting good grades is a good place to start.  It’s common for car insurance companies to offer discounts when teens hit the books and earn top grade. Drivers younger than 25 can earn a good student discount of up to 20 percent or even more (Some companies offer even a 35% discount). In order to qualify, the teen must achieve one of the following requirements.

  • B average or higher for all subjects combined.
  • Inclusion on dean’s list or honor roll.
  • A ranking in the upper 20 percent on one of six standardized tests.

Keep in mind that exact savings and requirements vary by state and insurer. So, always check with an insurer the exact procedures for getting good student discount.

A student can also save up to 10% off auto insurance if he or she is a member in one of the employers, alumni associations, and professional associations recognized and accepted by a specific car insurance company.

Students who attend college far away from their home city/state (for example, 100 miles or more from home) can apply for a “resident student discount,” which can offer significant savings to them. This discount typically applies if the student is planning not to drive the insured vehicle while away at school, but may use it during the months when he or she returns home.

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