Potential Magazine Feb/March 2013 | Page 29

what is a “ GOOD student?” Just the Facts Each insurance company will have its own guidelines. Here is a sampling of their requirements. For a good student discount, you must: A 16-year-old gets traffic tickets at a rate 1.8 times higher than that of the average driver • Be under age 25 and a full-time student maintaining a “B”/3.0 average for all combined subjects. They are also 3.7 times more likely to be involved in an accident. • Be a full-time student in high school, college/university or a certificate degree program. Once they have had one accident, NHTSA data show, they’re 50 percent more likely than even other 16-year-olds to have another accident. • Be ranked scholastically among the upper 20 percent of your class Be included on a school’s dean’s list, honor roll or comparable listing for scholastic achievement. National Highway Transportation Safety Administration statistics Look at Progressive’s Snapshot program and State Farm’s In-Drive program. Can I get a discount if my teen takes a driver’s education course? Yes, but not all insurance companies offer such a student discount, especially in states where all drivers are required to take a driver’s education class (Alabama does not require it). When a discount is offered, it is typically for an accredited class. Some insurers require both classroom theory and onroad instruction; others do not.  You can usually expect a break of 5 percent. Are there other discounts? Some insurance providers have additional driver education programs. For example, Farmers has a program called “Y.E.S.” (You’re Essential to Safety). If your teenager watches a video and completes a follow-up test to check how well it sunk in, he or she can qualify for certain discounts. And, State Farm has “Steer Clear,” which allows drivers under the age of 25 with a clean record to receive a discount if they successfully complete a program that includes a video presentation, a safe-driving magazine and a driver’s log. Questions and answers provided to Potential magazine by Penny Gusnar at CarInsurance.com. CarInsurance.com provides buyers all of the information and tools necessary to shop for auto insurance and obtain competitive insurance rates. www.potentialmagazine.com How much is a good student discount? up to 25% Every company will have its own guidelines. Some will not offer a discount at all. Others will discount the premium by 10 percent to 15 percent. Allstate offers a discount of up to 20 percent, and Nationwide’s price break can be as much as 25 percent. 29