Friday, October 29, 2010

Good Grades Can Save You Money

There can only be one answer for this, unless you are not concerned about saving money, YES - good student discounts are worth it and for two reasons.

Teens that are now taking the wheel or even getting their first car, will be able to qualify for a discount on their automobile insurance, so first, saving money is great reason.  Second, it is an incentive to your teen to keep their grades up!

In Florida it is the law that all automobiles and drivers have insurance.  Here is a quick glance from the official website of the Florida Department of Highway Safety and Motor Vehicles:

I am registering a vehicle for the first time in Florida. Is automobile insurance mandatory?

Yes. If you own a vehicle with at least four wheels and are registering it, you must have Florida insurance.

What type of insurance is required to purchase and maintain a Florida license plate and registration?

Florida's minimum coverage is $10,000 personal injury protection (PIP) and $10,000 property damage liability (PDL) as long as you have a valid Florida license plate.

With today's struggling economy, parents are looking for ways to cut corners financially and since insurance is a must when you have  teenager driving in the household or at college, finding auto insurance that offer good student discounts can save you quite a bit of money.

Here is a few examples of Good Student Discount qualifications from three major insurance companies:

State Farm Good Student Discount

All male and unmarried female drivers under 25 who are full-time students in high school or at a college or university, and the scholastic records for the immediately preceding school semester show that this student meets at least one of the following:
  • Ranked scholastically in the upper 20% of his or her class.
  • Had a grade average of B or higher.
  • Had a grade point average of 3.0 (out of 4.0) or higher.
  • Was included in the Dean's List or Honor Roll.
Allstate Good Student Discount
  • Your teen driver can save you money before they even get behind the wheel with the Good Student Discount. The better they are in the classroom, the bigger the discount you’ll get. Add a good student to your policy and you'll earn extra credit-up to 10-20 percent, depending on your state.
American Family Insurance
  • If you're a good student or your household includes a good student who's an insured driver.  Click here for more information.
No matter who insurance carrier your family has, be sure to inquire about good student discounts.  They could save you a substantial amount of money as well as encourage your teen or college student to keep their grades up.  It is a win-win situation!

Call your insurance representative today to find out exactly what your savings could be.

On a personal note, I saved over $300.00 a year with my college student's good student discount.  It's real!

Be an educated parent, you will have safer teens - and maybe have more money in your pocket!

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