Good Grades? That May Save You $$ On Your Next Insurance Bill
Posted by Donald J. Medeiros Insurance Agency on
Listing your teenager driver on your auto insurance policy more than likely has you paying a higher rate for your inexperienced operator. Is your teenager a good student? What if I told you that you may be eligible for a good student discount on that policy? The good news is that it could save you up to 15% on your bill. There are two types of good student discounts that are available.
Good Student Discount – If you or your child is a full time student in high school or college and carries an average of B or higher, you may be eligible for a good student discount. The good student discount is good for up to 10% off certain parts of your auto policy. Most insurance companies will accept a transcript or report card, or a completed good student application. See the attached Good Student Discount Form. You must reapply for this discount every year as it will not automatically be applied to your renewal policy.
Student Away From Home Discount – If your child is living at college more than 100 miles from home, you may also be eligible for a student away from home discount. This discount could get you up to 15% off certain parts of your policy, but may only be applied to the vehicle assigned to the student that qualifies for the discount.
However, you cannot take both “The Good Student” and “The Student Away From Home Discount”, so if you qualify for both, the higher discount rate will apply. Ask your agent what is required to apply for these discounts, and what you’ll be eligible for to save on your policy. If you have any questions about this blog or any other discounts available, give us a call and we’ll be glad to help you.
Here at Donald J. Medeiros Insurance Agency our goal is to try to help our viewers by suggesting solutions for all insurance needs. By no means can we address each reader’s specific concerns in every incident. So, we strongly advise to check with an insurance representative to address your specific needs. However, you can also contact us for any questions or concerns and we will be happy to help you. We are able to offer a complete line of personal & commercial insurance products for all of Massachusetts, Rhode Island and New Hampshire.