Teens and young adults often face hefty auto insurance premiums because,
statistically, they are more likely to get into car accidents. The Department ofMotor Vehicles reports that the crash rate for those between the ages of 16-19 is
2.7 times greater than that of the average driver. However, most carriers offer a
simple solution to combat this financial burden—offering a good student
discount. Auto insurance for young adults presents a burden on families especially in Michigan. Parents and guardians immediately realize a significant insurance cost increase while teens are faced with apprehension. GBK insurance agents see this everyday and are prepared with options, and these type of incentives to help you make the best choices.
It SAVES To Be A Good Student
The good student discount is an auto insurance discount provided by carriers that benefits students financially for their academic achievement. In other words, this discount offers reduced auto insurance premium
rates for current students that maintain a
specific GPA or other measurable level of
success in school.
The Journal of Accident Analysis and
Prevention found in a recent study that
students with a C or D average in school
are 49% more likely to get into a car
accident than those with an A or B
average. As a result, students with an A or
B average are labeled as low-risk drivers
by car insurance companies and rewarded
with lower rates.
While specific qualifications vary between
carriers and states, most auto insurance
companies typically require students to
meet the following standards:
- Be under the age of 25
- Be currently enrolled full time in high school, college or university
- Maintain at least a 3.0 GPA
- Score in the top 20 percent on the PSAT, SAT or ACT
- Receive recognition on the dean’s list or honor roll
Receiving the Good Student Auto Insurance Discount
In order to receive the good student discount, you will need to provide both proof
of enrollment and proof of academic achievement. This proof can be provided to
carriers in the form of a report card or transcript, standardized test score results,
a letter from a school administrator, or a dean’s list or honor roll certificate. In the
case of a home-schooled student, you will need to provide a certification signed
by a home-schooled certifying body, such as the State Department of Education.
As an independent agency GBK, our experienced auto insurance agents will tell you which carriers offer the good student discount. They will also guide you in selecting the right carrier and plan that both gives the best coverage at the lowest price. Please fill out our online auto insurance quote form to get started today!