Once parents allow their child to finally drive a car, one of their biggest concerns is being able to afford good and credible auto insurance for their teenage son or daughter. Parents and their child often have a hard time coping with the financial constraints that getting auto insurance gives them because of the historical accounts that young drivers have concerning accidents. With that being known, companies tend to make rates higher for young drivers because of the higher risk present with teenagers. Fortunately, most auto insurance companies provide a great discount for drivers who have good standings in school.
Usually called the “Good Student Discount,” this is a program offered by most companies that gives considerable discount as the title implies, to good students. Qualifying for this discount is not a very daunting task given that the student is academically excellent. Teenagers only have to maintain a “B” average in high school. And for college students they only have to maintain a 3.0 GPA on all major subjects.
Auto insurance companies regularly 5-10% discounts to people who maintain good grades in school. This percentage is a huge difference and will save a lot of money that can be used for other needs and necessities. When the teenager meets these discount requirements, the following steps are easy. All the teen has to do is hand the company a photocopy of his or her final report card to prove that he/she met the required grade to avail of the discount.
And if you are a teenager that does not at this present time have the necessary grades to avail of the discount, be determined and make it a goal to get that required grade for it will definitely help you or your parents in saving money. Parents can also be of help to their child by giving them the right motivation to obtain the required grade average. It will not only lessen the insurance rate but a good grade will also be useful for the child seeking job opportunities.
Overall, school performance plays a big role when parents or their child applies for auto insurance. It is the easiest and most practical way for young drivers to save money when getting car insured. Though getting high grades takes a lot of hard work, at the end of the day all the hard work and perseverance will all be worth it because the reward teenagers will be able to obtain is far greater that they expect it to be.