Do You Need to Submit a Report Card for the Good Student Discount?

Last Updated on July 10, 2020

Many car insurance companies now offer good student discounts.

But do you actually need to submit a report card to qualify for the good grade discount? Or can you simply tell your insurer you’re a straight-A student?

Generally, insurance companies require you to mail documents proving your high school or college grades. Your insurance company needs to see a report card, transcript, or other document verifying that you are maintaining good grades.

However, insurance requirements vary widely between insurers. Keep reading to discover everything you need to know about good student discounts and how they work.

Do You Need to Submit a Report Card for the Good Student Discount?

How Good Student Discounts Work

It’s no secret that students pay some of the highest rates in America for car insurance. Students – whether in high school or college – are young and inexperienced drivers. Statistics show they’re the riskiest drivers to insure. Young drivers – particularly young male drivers – have a higher accident risk than any other demographic.

For all of these reasons, smart students take advantage of any available discount. In recent years, car insurance companies across America have started offering good student discounts.

Statistics show that students with an average of B+ or higher tend to be safer drivers. Generally, drivers who have good grades are less likely to make an insurance claim.

In exchange for being a lower risk driver, insurance companies may lower your premiums by a small amount.

The good student discount isn’t massive. With most companies, it drops premiums by 2.5% to 10%. However, for students paying thousands of dollars per year for car insurance, this can still be a substantial amount of money.

How Do I Qualify for the Good Student Discount?

Insurance companies have different definitions for “good grades”. Most insurance companies require you to have an average of B or higher. Some insurers require B+ or higher or even A or higher. Some insurers ignore the letter grade system whatsoever, simply requiring you to be on the Honor Roll or Dean’s List.

To qualify for the good student discount, you generally need to meet one of the following qualifications:

  • Ranked in the upper 20% of your class
  • Have a grade average of B or higher
  • Have a grade point average (GPA) of 3.0 or higher
  • Make the Dean’s List or Honor Roll

Specific requirements vary between insurers. Farmers, for example, lets you qualify for the good student discount even after you graduate. If you have fewer than nine years of driving experience and have graduated from a four-year program with good grades, then you may continue qualifying for the good student discount for several years after you graduate.

Yes, You Need to Provide a Report Card or Transcript

In our experience, all insurers require you to show proof of your good grades. That proof typically comes in the form of:

  • A report card
  • A transcript

If you are a high school student attempting to qualify for a good student discount, then you would provide a report card. College kids, meanwhile, can provide a transcript.

Some insurers require a verified report card or transcript. It must be sent directly from your educational institution.

Other insurers are more relaxed, simply requiring you to send a screenshot of your transcript or a PDF scan of your report card.

How Much Can I Save with a Good Student Discount?

Good student discounts aren’t enormous. Most insurance companies offer a discount of 2.5% to 10% for maintaining good grades.

That may not sound like a lot. However, the average student pays anywhere from $2,000 to $5,000 per year for car insurance, which means a good student discount can be worth hundreds of dollars per year.

You can also maximize savings by qualifying for other student discounts. Many insurers offer resident student discounts or international student discounts, for example, which allows you to save money on car insurance while living away from home for college.

How Often Do I Need to Provide a Report Card?

Reporting requirements vary between insurers. Generally, insurance companies need proof of good grades at every renewal period – say, every 6 months or 12 months.

Some insurance companies require your report card every semester.

Talk to your insurance company or insurance agent to verify how frequently you need to provide a report card or transcript.

Lying About Grades is Insurance Fraud, and Insurance Fraud is Illegal

You don’t have to look far on the internet to find reports of people faking good grades to qualify for insurance discounts.

Most insurers will accept your report card at face value. Most insurance companies do not actually contact the high school or college to verify the grades.

However, that doesn’t mean you can legally fake grades on your report card to qualify for a good grade discount. This is considered insurance fraud. You are fabricating documents to qualify for cheaper insurance rates.

Based on our research, few insurance agents ever contact high schools or colleges to verify the grades you have provided. However, lying about grades can lead to serious consequences. Your insurer could deny any future insurance claims, for example, or cancel your policy immediately.

Final Word

A growing number of insurers offer good grade or good student discounts. By maintaining an average of B+ or higher, you can save 2.5% to 10% off your car insurance premiums.

Most insurance companies require proof of good grades to qualify for the discount. You must provide a report card, a transcript, or some other document verifying your good grades.

Some insurers have strict guidelines, requiring verified transcripts sent directly from your high school or college. Other insurers are more relaxed.

If you cannot verify your good grades, then you cannot qualify for the discount.

In our experience, few insurance companies contact high schools or colleges to verify the grades you have provided. However, lying about grades to qualify for a discount is considered insurance fraud, and it could cause your insurer to cancel your policy and deny future claims.

James Shaffer
James Shaffer James Shaffer is a writer for and a well-seasoned auto insurance industry veteran. He has a deep knowledge of insurance rules and regulations and is passionate about helping drivers save money on auto insurance. He is responsible for researching and writing about anything auto insurance-related. He holds a bachelor's degree from Bentley University and his work has been quoted by NBC News, CNN, and The Washington Post.
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