Car Insurance Discounts for Medical Students

Is a medical student discount on car insurance available? Car insurance discounts are available for students in general, but not for medical students in particular. You could save hundreds of dollars per year if you qualify.

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A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Written by Laura Berry
Former Insurance Agent Laura Berry

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® Joel Ohman

UPDATED: Jun 27, 2022

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Here's What You Nneed to Know

  • There are no dedicated discounts for medical students, but they can still access considerable student discounts
  • The average percentage of these discounts is around 13%, but you can stack positive factors so that it reaches 25% or higher with some companies
  • Depending on what percentage of discount you qualify for, you could save several hundred dollars per year on car insurance

Medical school is well known for being expensive, and the financial needs of new medical professionals are considerable. Many insurance companies have decided to make things a bit easier for medical and other students.

Here’s some more information about student discounts, their requirements, and which car insurance companies offer them. If you’re looking for affordable car insurance, feel free to enter your ZIP code into our free online quote tool above. 

Is there a discounted car insurance rate for medical students?

Insurance companies usually don’t offer discounts, especially for medical students, but often offer discounted car insurance rates for students in general. Medical students may also get access to discounts on health and life insurance. Medical students with a clean driving history can also get additional discounts.

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What are the requirements for accessing discounted student coverage?

To get an auto insurance discount for medical students or any other types of students, you usually need to be enrolled in school full-time. Most car insurance companies don’t give part-time students access to student discounts.

Many other factors can influence whether or not you are eligible for an auto insurance company’s student discount. The requirements can vary considerably from company to company. 

Students with impressive grades can gain extra savings from some companies. Some organizations require a B average or better, while others require an A average. Other car insurance companies might want students to be ranked within the top 20% of their class.

If your school uses a point system to grade, you usually need a 3.0 average or better for all subjects combined. If you have been included in lists related to major academic achievements, like the Dean’s List or the honor roll car insurance discount, you can usually qualify for a student discount on your car insurance.

Some companies consider major test scores when gauging whether or not a student should gain access to discounts. If a student scored in the upper 20% on the following test, they fit the discount requirements for many insurance companies: 

  • PSAT
  • PACT
  • SAT-1 
  • ACT
  • TAP 
  • California Achievement Test
  • Iowa Test of Basic Skills

Contact a representative with your insurance company to ask if it offers any of the above-mentioned student discounts. 

What car insurance companies offer these discounts?

The largest, most established car insurance companies in the United States all offer some kind of student discount. Most offer safe driver student discounts as well. However, not all companies provide distant student discounts, further education discounts, or driver training discounts.

What levels of student discounts exist for auto insurance?

The average amount people save through student discounts for car insurance is around 13%. If you also get additional discounts, you can save 25% or even more. This can total more than $500 per year for many drivers.

Some of these discounts apply to the following situations:

  • Students who are going to college away from home.
  • Drivers who have taken a defensive driving course.
  • Safety discounts may apply if your vehicle has a high safety rating and advanced safety features like lane-keeping assistance, forward collision warning, and blind-spot monitoring.
  • Students who live on campus and don’t often drive can get low-mileage discounts. For this discount or a safe-driving discount, some insurers require you to install a device to track your driving.
  • If you live with your family members when you’re not attending school, you may be able to join the household’s current car insurance policy. 
  • Many insurers also offer discounts for policies with multiple vehicles. 

Some insurance companies require people to be 25 years old or under to qualify for student discounts. That means some medical students may not be able to get student discounts on car insurance.

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Final Thoughts on Medical Student Car Insurance Discounts

There may be no widespread discounts set up for medical students in particular, but you can still get your hands on a hefty student discount if you meet your auto insurance company’s requirements. Students who work hard, drive safely, and earn good grades can often get discounts. They can also save by driving less costly vehicles that have lower insurance rates.

If you’re in need of affordable auto insurance, feel free to enter your ZIP code into our free quote comparison tool below to start browsing quotes from multiple companies.

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Enter your ZIP code below to view companies that have cheap car insurance rates.

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