A Good Student Discount on an auto insurance premium is kind of like Snuffaluffagus on Sesame Street: everyone knows it exists, but not a lot of people have actually seen what it looks like.

Well CoverHound proprietary data is proud to confirm the existence of the discounts.

Before we get to the specific data points, here are some interesting takeaways:

  • Boys get bigger good student discounts than girls do. Males, with their collective penchant for tomfoolery, are generally more risky to insure; good grades often correlate to good behavior, according to data used by insurance carriers.
  • Only about half of all carriers offer good student discounts. So if you have or are a student -- especially a good one -- it might be in your best interest to find a carrier that offers the discount.

CoverHound data shows that the biggest discount is for young men, around the age of 20. With carriers who offer the discount, 20 year-old males with one car and one driver save an average of 14.8%.

All other things equal, qualified women at the age of 20 get, on average, a 10% off for a good student discount.

Both genders get the biggest discounts in families where there is one driver and one car. The next biggest average student discount happens one driver and two cars. The smallest discount for good students takes place in families with two drivers and two cars, in which cases male students can earn an average discount 6.9% for good grades, while females earn 6.7%.

It’s also important to note that not all insurance companies define “good student” the same way. For some, it’s above a 3.0 GPA; for others it’s 3.3. Some want to see actual transcripts for proof, while others will take your word on it. Be sure to ask your carrier these specific questions. It’s worth it, as you can save quite a bit of money over time.

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