GEICO Student Discount: Save on Auto Insurance

Auto insurance for college students and high school students is costly. Since young drivers lack experience, they have a greater chance of causing accidents. In turn, car insurance companies are more likely to pay a claim for a student driver.

The good news is that most car insurance companies offer discounts to lower rates. For example, Geico student discounts include good students, good drivers, distant students, and membership discounts.

Geico also offers cheap car insurance for college students and high school students. Rates start low, and discounts decrease them even more.

Although Geico offers multiple student discounts, so do other car insurance companies. Discount amounts will vary, so shop around to find your best deal.

Keep reading to learn more about Geico student discounts, and learn the best ways to save on car insurance.

What are Geico student discounts?

It’s no surprise that student car insurance is more expensive than insurance for older drivers. Though most students are excited to get their driver’s license, they may encounter high car insurance rates when signing up for coverage.

The good news is that discounts are available to lower high school and college student car insurance rates.

Geico offers several car insurance discounts designed explicitly for students to lower those high young driver rates.

First, Geico offers a good student discount. This discount can save you up to 15%, but there are some conditions. Students must be under 26 years old and enrolled full time in high school or college.

In addition, students must have a B average in high school or a 3.0 GPA in college. You will have to submit a report card or transcript to prove your grades.

Most states require young drivers to take a driver’s education course, and Geico offers an additional discount for those who complete it. You will have to submit a certificate showing you took the class to get the discount.

A good driver discount is also available to drivers who have not had any accidents in five years. Student drivers with a clean driving record are eligible for this discount.

A Geico distant student discount is also available if you attend college away from home. Like the good student discount, you must be enrolled in school full time to receive this discount.

Finally, Geico offers membership discounts if you belong to specific organizations, colleges, universities, sororities, and fraternities. For example, Texas A&M students or American Medical Student Association members can receive additional discounts.

How expensive is car insurance for students?

Car insurance for young drivers is much more expensive than insurance for older drivers. In addition, young drivers lack the experience to avoid accidents and are more likely to exhibit risky driving behaviors like speeding and distracted driving.

According to the Centers for Disease Control, drivers between the ages of 16 and 19 are the most likely to be involved in an accident.

Insurance companies charge young drivers higher rates because they are more likely to cost the company money in property damages and bodily injuries.

This table shows the average car insurance rates charged by top companies for young drivers. Although rates decrease as age increases, students start with much higher rates.

While USAA offers the cheapest rates for young drivers, it only provides coverage to military members and their families. Besides USAA, Geico offers young drivers the most affordable car insurance.

Though age and driving record are the two most significant factors that affect car insurance rates, your vehicle and where you live also determine rates.

Students should shop for coverage since each car insurance company looks at these factors differently. Compare multiple companies to find great coverage with the lowest rates.

What are other ways students can save money on car insurance?

Since students are charged much higher car insurance rates, they should look for all available ways to lower their rates.

First, look for car insurance discounts. Geico discounts not only include car insurance deals for students, but they also include discounts based on the policy and your car’s safety features.

This table shows Geico car insurance discounts. The amount of savings is listed if it is available.

Students should remain on their parent or guardian’s car insurance policy for as long as possible. Rates stay low, and more discounts — such as multi-car and multi-policy — are available.

Finally, consider lowering coverage amounts and raising deductibles to save money. Though you will have to pay more out of pocket in an accident, overall rates stay much lower.

Geico Student Discounts: The Bottom Line

Geico offers multiple student discounts, including a good student, driver’s education, distant student, and safe driver discount. While there are certain requirements for each discount, most students qualify for multiple discounts.

Geico also offers some of the lowest young driver car insurance rates out there. The low rates combined with the student discounts mean young drivers can find affordable car insurance.

Students can lower Geico car insurance rates by taking advantage of other discounts, lowering coverage, and raising deductibles.

Young drivers should shop around to find the best deal since student car insurance rates are expensive. While Geico offers low rates and student discounts, many other car insurance companies also have coverage options for student drivers.