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Car Insurance Rate Discounts for Students

Posted With 16 to 19-year old drivers being involved in more traffic accidents and having the highest insurance rates of any age group, we all have good reason to look for ways to reduce the cost of car insurance and the risk of fatal car accidents. You can have some influence over your car insurance rates if you follow some simple tips.

Before you even begin looking for car insurance discounts, consider the fact that the student’s age and the type of vehicle he or she drives are the two largest factors that influence car insurance rates. The IIHS is looking to increasing the driving age from sixteen to seventeen years as a statistically proven way to reduce traffic accidents and fatalities. A more humane solution can be the use of “graduated licensing” now being implemented in some states. Regardless of whether these factors come into play in your case, the best choice of vehicle is a larger, older, lower performance vehicle for safety and insurance rates. You may not be the envy of the fraternity or sorority, but a 2000 or older FWD 4-door sedan or minivan (Ugh!) is likely to be the cheapest to insure and offer the safety of a larger vehicle.

Driver Training Discount
Young drivers under 21 years old may receive a discount of up to 20 percent on car insurance for completing Advanced Driver Training or defensive driving courses, if not used to mitigate a tarnished driving record.

Good Student Insurance Discounts
A student who performs well in school is more responsible and statistically less likely to get into a traffic accident according to insurers. Most insurers consider students for a “Good Student Discount” if their grades are in the top 20 percent of the class, has a “B” average, a “3.0″ GPA, or is on the Dean’s List.

Infrequent Driver Student Discount
You can save money insuring the family car if the student only uses it when home for winter break. Some insurers will not require this type of student to be covered. With such infrequent usage, the son or daughter will be covered just like any other relative or friend who may use the family car very infrequently.

Low Mileage Student Driver Discounts
If a student needs to drive only a short distance to campus daily and uses public transportation or carpooling to cut down on the number of miles, a Low Mileage Student Discount may help reduce your car insurance rates.

Discount for Adding a Student Driver to an Existing Policy
Parents who add another driver to their existing car insurance policy can save on their car insurance rates, especially if they already receive a safe driver discount.

Youthful Driver Discounts
Drivers who are single, under 21 years old, and living at home with their parents can reap car insurance discounts. When considering adding another driver to your existing car insurance policy, it is always better to consult your agent first.

The Biggest Student Driver Discount
It doesn’t take a rocket scientist to recognize that the greatest Student Driver Insurance Discount will be reaped by avoiding an accident. By getting into a traffic accident that requires the filing of an insurance claim, you run the risk of increased car insurance rates which will take much effort to repair. By maintaining an unblemished driving record, you can help save on lower car insurance rates, and keep you and your passengers safe.

Posted 8:50 AM  View Comments

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