Car Insurance: How Student Discounts Work
Well, fall 2020 may not be what we were all expecting as our kids head back to school, but that doesn’t mean there are not still some practical considerations to be addressed, especially if your student is a young driver.
If you’ve been wondering if you are eligible to claim a student discount from your current insurance provider consider the following:
Away at School Discount
Generally speaking, an “Away at School” discount only applies to occasional drivers on vehicles. To qualify each company has some or all or different requirements:
Underage Operator(s) under 25 years of age, while living away at a post-secondary educational institution will qualify for a 50% discount off most of your auto insurance coverage.
In order to qualify for this discount, all underage drivers listed on a vehicle as an occasional driver must:
Be registered as a full-time student at an accredited post-secondary institution (University or College). Evidence of enrollment must be provided at each policy renewal.
Live more than 100 km from home and only return home on holidays etc. and the vehicle remains at home.
Some insurance companies may require that the student also have a clean driving record.
Good Student Discount
A 10% Good Student discount MIGHT be available for principal and occasional operators and is applicable to the majority of your auto coverages if the following criteria are met:
The student is a vehicle operator(s) under 25 years of age.
The student has a minimum license requirement: G2.
The student is enrolled in an accredited high school, college or university as a full-time student
The student operator(s) must prove that they have maintained a minimum 80% average or its equivalent in the prior school semester.
Documentation of the student operator(s) student number, average or GPA along with the name and address of school may be required.
The insurance company may request to be furnished with a copy of supporting documentation on annual basis in order to validate the discount being applied.
Find Out For Sure
Many insurance companies offer some form of student discounts on their automotive policies based on the criteria outlined above. If you are already insured with a company then you should check with your broker to find out if you are eligible to use any of these discounts. If you are not yet insured and looking for quotes on an insurance policy, contact one of the brokers or CSRs at DPM Insurance Group and let them provide you with the best insurance advice for your situation. Click here for a link to the contact information for all of your six office across Chatham-Kent and Essex County: https://dpmins.com/locations/
