Student discounts are a way for young drivers to save money on Auto Insurance Coverage in Tyrone PA. Teenage drivers present a higher risk to insurance companies, and they pay higher premiums than those paid by adults. On average, teens pay about $500 more per year than for a comparable adult policy. Costs add up quickly, and it’s sensible for young drivers to find as many discounts as possible.
How Student Discounts Work in Car Insurance
Most major auto insurance companies offer some sort of discount for students. However, discounts are based on more than just being in school at the time. Because almost every teen is a student, insurers don’t offer discounts just for staying in school. Rather, the discount is offered to those who are good students.
When calculating a monthly premium, insurers evaluate a variety of factors. Over the years, companies have determined which segments of the population cause the most accidents that lead to claims. In the collection and analysis of data, insurers have found that a good student is less likely to cause a crash than a poor student is.
Because of these findings, most major car insurance companies offer “good student” discounts to eligible teens. The criteria used depends on the student’s choice of an insurance company. Some require good students to be on the dean’s list or the honor roll, and others want to see As on report cards. Calling an insurance agent to determine the criteria for student discounts is the easiest way to find out whether a teen can get a student discount.
Eligibility for Student Discounts
In most instances, student discounts are available to any driver who is in school. This group can include high school, college or graduate students. Some insurers allow discounts for adults who’ve gone back to school, while other companies cap student discounts at a certain age, usually 25. If one is in school, regardless of their age, it is a good idea to Click Here to ask about discounts for students. These offers can help young drivers save significantly on their Auto Insurance Coverage in Tyrone PA, and asking questions can definitely be worthwhile.
