Are there any age eligibility requirements to get a good student car insurance discount?
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Asked March 26, 2014
Young drivers are the highest risk faced by insurance companies, and the rates they have to pay reflect those risks. The risks are higher for boys than girls, because boys tend to take more risks behind the wheel. But all young drivers can get a discount on their car insurance if they qualify as good students, and those discounts are available until their mid-20's.
The age requirements for young drivers to qualify for a good student discount are straightforward. From the time the student is allowed to drive legally until they turn 25, insurance companies will provide a good student discount as long as they are enrolled full time and continue to maintain good grades.
To be eligible for a good student discount, the young driver has to maintain a minimum grade average of 3.0. If their grades drop below the B average, they lose their good student discount but can get it back again by bringing their grades back up and keeping them there for a period of time, usually one semester.
If the driver drops out of school or graduates, they are not eligible for the discount. If they turn 25 and are still in school, they still lose the discount but will receive lower rates because they have matured beyond the high risk stage of car insurance. By the same token, if the young driver moves out of the family home to live in their own home, they lose their student status in the eyes of insurance companies and are considered to be emancipated. The idea is that by the time they are 25 or begin making their own way in the world, they are considered a legal adult and will be treated that way by insurance companies.
Answered March 26, 2014 by Anonymous