What Is the GEICO Good Student Discount?
Last Updated on August 21, 2022
Available to college and high school students, the good student discount can help you save hundreds per year on car insurance.
You qualify for GEICO’s good student discount if you’re a full-time student with a grade average of “B” or better.
Keep reading to discover everything you need to know about GEICO’s good student discount, how it works, how much you can save, and how to qualify today.
Table of Contents:
- How GEICO’s Good Student Discount Works
- Why GEICO Offers a Good Student Discount
- How Much Can You Save?
- Other GEICO Student Discounts
- Other Factors Impacting Car Insurance Premiums for Students
- How to Get GEICO’s Good Student Discount
- Other Things to Know About GEICO’s Good Student Discount
How GEICO’s Good Student Discount Works
GEICO provides a good student discount to certain qualifying students. The value of the discount varies from state to state. However, qualifying students could save 5% to 15% on car insurance.
To qualify for GEICO’s good student discount, you must meet the following requirements:
- Be a high school student or full-time college student
- Maintain a grade average of “B” or better
- Be under 26
To receive the discount, GEICO may require you to submit your report card or transcripts verifying your grade average and status as a full-time student. You may need to submit documentation to GEICO semi-annually (say, once per semester) to maintain your good grade discount.
A “B” average translates to a 3.0 GPA. If you have a “B” average in high school or a 3.0 GPA in college/university, then you should qualify for GEICO’s good student discount.
If you are older than 26, you may not receive the GEICO good student discount even if you normally qualify. However, GEICO charges significantly lower insurance rates to drivers over 25 regardless.
Why GEICO Offers a Good Student Discount
Young adults are the riskiest drivers to insure. That’s why drivers under age 25 pay some of the highest rates for car insurance.
However, studies show that students with good grades are less risky to insure than those with lower grades. If you have a B average (3.0 GPA) or better, for example, then you’re statistically less likely to engage in risky driving behavior.
GEICO, like other insurers, recognizes this lower risk with a discount. In exchange for maintaining good grades, you pay less for car insurance with GEICO.
How Much Can You Save?
GEICO’s good student discount varies in value between drivers. Generally, drivers can expect to save around 5% to 10% on car insurance premiums with the GEICO good student discount.
However, in some states, drivers save as little as 2.5% or as much as 15% with the GEICO good student discount. It depends on your location, driving history, and other factors.
The average college student in the United States pays around $1,946 per year for full coverage car insurance, which is significantly higher than the nationwide average of $1,450 per year. If GEICO’s good student discount saves you 5% to 10% on car insurance, then you could save $97 to $195 per year with the good student discount.
Other GEICO Student Discounts
GEICO offers a range of discounts to students, including the good student discount and other perks.
Other discounts available to certain qualifying students include:
Good Driver Discount: Students and young drivers who have been accident-free for the last 5 years may qualify for a good driver discount. If you have no claims, violations, at-fault accidents, or other incidents in the last five years, or if you have never been in an accident, then you could qualify for GEICO’s good driver discount.
Fraternity & Sorority Discounts: If you’re a fraternity or sorority member, you could save money on GEICO car insurance. GEICO has partnered with certain Greek life organizations to provide car insurance discounts.
Honor Society Discounts: GEICO has also partnered with certain schools to provide discounts to honor society students. If you are an honor society student, then you could save money on GEICO car insurance.
College, University, & Alumni Association Discounts: GEICO offers discounts to members of certain colleges and universities, including current students and alumni. You could save money on your GEICO policy if you go to a qualifying school or if you recently graduated from a qualifying school.
Student Away at School Discount: If you live more than 100 miles from home and do not have access to your car while at school, then you could qualify for GEICO’s student away at school discount. This discount lets you reduce car insurance premiums while maintaining coverage.
Because of these discounts and other perks, GEICO claims students can save $100 to $200 on auto insurance by switching to GEICO.
Other Factors Impacting Car Insurance Premiums for Students
Students pay higher rates for car insurance than the average adult. Some of the factors impacting car insurance for the average student include:
- Location, including the ZIP code where you park your car at night
- Your driving history, including the number of years you’ve had your license and any claims, accidents, or incidents on your record
- State insurance laws
- Coverage limits, deductibles, and other customization options
- Whether you’re carrying liability-only coverage or full coverage car insurance
- Additional perks, benefits, and coverages on your GEICO policy
Based on all of these factors, you could pay anywhere from $800 to $4,000 per year for car insurance with GEICO as a student.
How to Get GEICO’s Good Student Discount
If you believe you qualify for GEICO’s good student discount or other discounts above, then contact a GEICO agent today. Or, open the GEICO mobile app.
A GEICO agent can verify you qualify for the good student discount, then sign you up for coverage. You may need to submit paperwork – like transcripts – to the agent to verify coverage.
Other Things to Know About GEICO’s Good Student Discount
Other things to know about GEICO’s good student discount include:
- You must be a high school student or full-time college student to qualify for the discount
- Even if you don’t qualify for the good student discount, you may qualify for other GEICO discounts
- You can continue to stay on your parent’s policy while qualifying for the good student discount; regardless of whether you have your own policy or are under your parent’s policy, you can receive the good student discount
- Most major car insurance companies offer good student discounts; compare rates today to see if other companies offer cheaper rates than GEICO
- GEICO is America’s second-largest car insurance company (after State Farm), and they tend to be one of the cheapest options in most covered states; young drivers pay higher rates for car insurance with any company, and GEICO may offer the best-value plans for your unique needs
Final Word – GEICO Good Student Discount
Like other major car insurance companies, GEICO offers a good student discount to qualifying policyholders.
If you are a high school or full-time college student under age 26 with a grade average of “B” or better, you could save money through GEICO’s good student discount.
To learn more about GEICO’s good student discount or to verify you qualify, contact GEICO today.