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Teen Auto Insurance Discounts

Date posted: 07/06/2012

by Kat Saks on
in Applying for a New License (Teen Drivers)

4209 Teen Auto Insurance Discounts

Whether you’re the proud parent of a new teen driver or a teenage driver yourself, you know that the costs of driving add up. After you pay for drivers education classes, hand over the fees for the permit or license, and buy the car, you still need to consider one more cost: auto insurance.

Teen auto insurance can be especially costly, compared to more standard car insurance rates. Find out how you can save money on teenage auto insurance.

Good Student Discounts

Good grades come with their fair share of rewards. Beyond enjoying a sense of accomplishment and school accolades, teens with high grades can qualify for good student discounts; There are even auto insurance discounts for college students.

Most car insurance companies offer good student discounts to students who meet a certain set of criteria:

  • At least 16 years old, and no older than 24
  • A full-time student (high school or college)
  • Maintains a GPA of at least 3.0 (a B average), or is on the Dean’s List or Honor Roll

Criteria varies from state-to-state and from carrier-to-carrier, so check with your local auto insurance agency for more information.

If you or your teen qualify as a good student, you will need to provide proof of their good studentship. Report cards or a letter from the teen’s school can serve as proof to back up your claim. Keep in mind that these discounts only last as long as the good grades! You will have to provide new proof of high grades at each insurance renewal period in order to maintain your discounted rate.

Teenage Driver Education Discounts

Many states offer auto insurance discounts if you or your teen complete a driver’s training course. When a teen can provide proof of passing a state-approved drivers education course with flying colors, she might be eligible for a reduced rate.

Student-Away-At-School Discount

Some states offer car insurance discounts if your teen resides at a college more than 100 miles away from your home.

Low Mileage Discount

When you don’t drive much, you often qualify for lower auto insurance rates. Many teenagers spend their driving time fairly close to home, traveling to friends’ homes and to school.

If you or your teen drive a low number of miles per year, your auto insurance rate might lower accordingly.

Multi-Car Discounts

Some car insurance companies offer discounts if you insure more than one vehicle. So, if you add your teen’s ride to your existing policy, you might see a dip in your rates.

Available car insurance discounts vary by state and provider. Talk to your local auto insurance agency for more information on how you can keep your teenage auto insurance rates low.

For more info for first-time drivers, check out our section on Buying Car Insurance for Teens. Also hit our full section on Auto Insurance Discounts.

Do you have a teenage driver in your home? Or, are you a teenage driver yourself? Tell us about your experience with teen auto insurance and your tips for getting the best possible rate!

 

 

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About Kat Saks

Kat Saks is a Denver-based writer and yoga teacher. She is also Firefly Partners' Client Solutions Manager. She blogs for DMV.org and shouts safe-driving tips to teens while driving the city streets. More articles by Kat Saks

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