When purchasing auto insurance - and obtaining great premium rates - education really can make a difference. This is because many car insurance carriers today will offer both good student discounts and college degree discounts for graduatues.

When you're in school - or when just graduating - saving every penny can certainly count. Paying car insurance is something that has to be done. But, the cost of the premium can be made a lot less by qualifying for various discounts.

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How the College Degree Discount Works With Auto Insurance Coverage

Although not all insurance companies offer the college degree discount, for the ones that do, you may need to meet certain requirements in order to obtain it. These may include - depending on the particular insurance company:

  • Begin age 25 years old or younger (for certain insurance companies and / or in certain states, the age range is between 16 and 24; in other instances the age limit is 21)
  • Unmarried
  • Maintaining a grade average of "B" or higher
  • Maintaining a Grade Point Average of 3.0 or higher (on a scale of 4.0)

In most cases, it is not required that you were on either the Honor Roll or have made the Dean's List - unless you have not maintained either the 3.0 Grade Point Average or met the B average in terms of grades.

The amount of the college degree discount will vary, based on the individual insurance company. However, if you're eligible for the college degree discount on your auto insurance coverage, you may also want to inquire about any other potential premium discounts that you may be eligible for such as the good driving discount and / or the defensive driving discount. This is because you could save even more money when all of these premium discounts are added up - equaling a substantial amount of savings throughout the year.

Photo credits (top image): Nazareth College, COD Newsroom