Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: May 22, 2020

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Here's what you need to know...

  • Teens statistically are at a high risk for car crashes
  • If you’re on the honor roll  or are a good student, there’s a high probability that you may be eligible for a discount on your car insurance
  • Even if you’re not on the honor roll, there are some discounts for which you may be eligible
  • A teen’s choice of car will make a significant impact on insurance rates
  • Allstate offers up to a 20% discount for teens with good grades

Raising kids can be expensive, and this responsibility only seems to get more expensive as kids get older.

If your child is a teen or young adult driver, you no doubt are paying the added price of another car payment for your young driver, extra gas money to fill their gas tank and a higher car insurance premium to boot.

Some parents require their young driver to take responsibility for some or all of these driving-related expenses, but others want to help their child out so their child can focus on school.

Regardless of who is paying, you may be looking for a way to make car insurance more affordable.

Many insurance companies offer an Honor Roll discount for young drivers who excel in their studies.

Enter your ZIP code into our FREE comparison tool above to find the car insurance policy that best fits your needs.

Why Young Drivers Cost So Much to Insure

Most adults have seen some pretty aggressive drivers on the road over the years, and these dangerous drivers certainly were not all young drivers.

So you may be wondering why your young driver is paying such high rates and is deemed “high-risk” when older drivers may be even more aggressive at times.

Insurance rates for young adults under the age of 25 are indeed very high, and this is because young adults are statistically involved in a greater number of accidents.

Further, many of these accidents are more costly to insurance companies. Use these tips to save money on car insurance if you are under 25.

To account for the statistically high-risk driving habits of drivers in this age group, drivers under 25 generally pay more for insurance than those over the age of 25.

You should be aware, however, that the age when insurance companies reduce rates does vary slightly from company to company.

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Why Car Insurance Companies Offer an Honor Roll Discount

While young drivers are statistically riskier drivers to insure, statistics have also proven that good students are safe and more responsible drivers.

Many car insurance companies provide those students who are deemed as good students with a discount on their car insurance rates to account for these statistics. You can take steps today to ensure your current policy has this discount in place.

Qualifications for the Discount

Not every car insurance company offers an Honor Roll discount, which may also be called a Good Student discount.

Those that do offer this type of discount may have unique qualifications and requirements in place that must be met before you can qualify for the savings. Some of the common qualifications include:

  • Driver must be under the age of 25
  • Driver must be an “A” or “B” student, or have a certain minimum GPA
  • Driver must be a full-time college student (Some programs are available for high school students or part-time college students)

Keep in mind that the qualifications can vary. If you do not qualify for the discount with your current insurance company, you can shop around and compare rates for other insurance companies whose student discount you may qualify for.

Enter your ZIP code in our comparison tool for FREE car insurance quotes.

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Other Discounts Suited for Students

The Honor Roll or Good Student discount is among the most well-known of the student discounts, but there are different types of student discounts that your policy may also qualify for.

Students often have unique driving patterns, and discounts are available to offer additional savings to those with certain driving patters.

These discounts include:

  • Youth Driver Discount – for a student living at home with parents while attending classes
  • Infrequent Driver Discount – for a student who only needs access to a vehicle while at home from college during winter or summer breaks
  • Low Mileage Discount – for a student who rarely drives a vehicle and puts a very low number of miles on a vehicle

Your policy may qualify for only these discounts, or the policy may enjoy greater savings by combining one of these discounts with an Honor Roll discount.

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Choose the Right Car for Your Student

As a parent, you want to cut down on costs any way you can. If you have not already purchased a car for your young driver, consider comparing rate quotes for different types of vehicles before you make a purchase.

You may have a range of features you want the car to be equipped with, such as storage for those times when your student is driving back and forth from home on school breaks, good fuel efficiency, and safety rating and more.

Factors like the safety equipment in the vehicle, the replacement value, the engine type and more all affect insurance costs.

An Honor Roll discount may help you to find savings, but choosing the right vehicle for your young driver is also important to reducing insurance costs. Follow these tips to help you choose the right college student car insurance.

Encourage Safe Driving Habits

Young drivers may pay high insurance premiums even with an Honor Roll discount and when driving a more affordable-to-insure vehicle.

However, other steps may help to keep the insurance premium as low as possible. One of the best ways to keep costs low is to encourage your young driver to drive safely at all times.

Safe drivers who have no traffic citations and no accidents on their record will have a lower insurance premium than those who have blemishes on their driving history.

In addition to enjoying rate savings, safe drivers may qualify for additional safe driver discounts.

Some insurance companies will allow a driver to qualify for a discount by taking a driver’s safety class.

While parents of young children may complain about how quickly their kids outgrow their clothes and the high cost of diapers, as a parent of an older child, you know the expenses become much more significant once a child starts driving.

An Honor Roll discount may help you to reduce the cost of insurance for your young driver. Shopping around for car insurance rates can help you to identify further savings with different insurance companies.

Enter your ZIP code into our comparison tool below to compare online car insurance quotes for free!