How Can College-Age Drivers Save on Auto Insurance?
Auto insurance discounts are often available for teen and college-age drivers.
How can teen drivers lower their auto insurance costs?
Teen drivers are more likely to get into car accidents than any other age group, according to the CDC. That higher risk translates to higher rates for auto insurance.
A defensive driving course can help teens develop good driving habits and knowledge of road safety—and possibly save you money. Young drivers who complete a driver safety program may get a discount on their auto insurance. Some safety courses can be taken online, and many are designed with young drivers in mind.
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Do auto insurance companies offer discounts to good students?
Yes, many auto insurance companies believe that students who get good grades tend to be responsible in other areas of their lives. Full-time students in high school or college who maintain a specific GPA can often get a good student discount.
Car insurance companies usually require students to maintain a B average (3.0 GPA) to qualify for the good student discount. There is often an age limit, and drivers usually need to provide a copy of their report card or college transcript as proof of good grades.
If a college student only drives during the summer while at their parents’ address, can they save money on auto insurance?
Yes, the student’s parents may be able to save money on their child’s auto insurance coverage if they only drive a few months of the year.
Many insurance companies offer cheaper car insurance for students who attend school far from home and only drive during the summer months at their permanent address.
Are there other ways to save money on an auto insurance policy if you’re a teen or college-age driver?
Yes, younger drivers—like all drivers—can take some basic steps to get better rates on auto coverage. Practicing safe driving and maintaining a clean driving record is key. Many insurance companies also offer discounts to drivers who install an anti-theft device on their vehicle. And be sure to look for bundling discounts. If you rent an off-campus apartment, for example, getting rental insurance and your auto policy from the same company may save you money.
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