For students in Canada, one of the best ways to save on car insurance is through the Good Student Discount. This discount is offered by most major insurers and can save you up to 25% on your premium. But what if you could double that discount? With a little bit of effort, it is possible to get a 100% Good Student Discount from some insurers. In this blog post, we'll show you how it's done.
What is a Good Student Discount?
A good student discount is a way for insurers to reward young drivers who maintain good grades. To qualify, you'll need to provide evidence of your academic achievement (usually in the form of a transcript or report card). The requirements vary by insurer, but typically, you'll need to be a full-time student with a GPA of 3.0 or higher.
Some insurers also offer good student discounts for students who take driver's education courses. While these courses aren't required to get your license, they can often help you get a lower insurance rate.
How to Qualify for a Good Student Discount
To qualify for a good student discount from Double-A Insurance in Canada, you must be enrolled in an accredited post-secondary educational institution on a full-time basis and maintain a cumulative grade point average (GPA) of 3.0 or higher. You will also need to provide proof of your enrolment and GPA in the form of an official transcript from your school.
The Best Insurance Companies in Canada That Offer Good Student Discounts
Many insurance companies in Canada offer good student discounts. The best way to find out if a company offers a discount is to contact them directly or check their website.
The following is a list of some of the best insurance companies in Canada that offer good student discounts:
-Allstate Insurance Company of Canada
-Cooperators General Insurance Company
-Desjardins Insurance Company
-Economical Mutual Insurance Company
-Intact Insurance Company
-Pembroke Insurance Limited Partnership
Totten Group Insurance Brokers Ltd.
How Much Can You Save With a Good Student Discount?
Assuming your parents have car insurance, you are probably covered under their policy. But when you turn 16 and start driving, you'll need to get your insurance. And if you want to get the best rates, you'll need to start with a good student discount.
To qualify for a good student discount, most insurers require that you:
Be enrolled in full-time studies at an accredited high school, college, or university
Be between the ages of 16 and 25
Have a good academic record
The amount of the discount can vary from insurer to insurer, but it's typically 10 to 15 percent off your premium. So if your parents are paying $1,000 per year for their car insurance, you can expect to pay somewhere between $850 and $925 per year for your policy.
Of course, the best way to save on car insurance is to be a safe driver. But if you're looking for ways to reduce your premium, a good student discount is a great place to start.
Tips For Saving Money on Your Auto Insurance premiums
There are a few things you can do to help reduce the cost of your auto insurance premiums. One is to take advantage of the "good student discount." This can save you up to 10% on your premium if you maintain a good grade point average.
Another tip is to shop around and compare rates from different insurers. Don't just go with the first company you get a quote from. Be sure to get quotes from at least 3-5 companies before making a decision.
You can also save money by bundling your auto insurance with other types of insurance, such as homeowner's or renter's insurance. This can often give you a discount of up to 20%.
Finally, make sure you're not paying for coverage you don't need. For example, if you have an older car that isn't worth much, you may want to consider dropping comprehensive and collision coverage. This can save you quite a bit of money every year.
If you're a student in Canada, you may be eligible for a Good Student Discount on your car insurance. This can save you a significant amount of money, so it's worth checking into. Make sure to shop around and compare rates from different insurers to make sure you're getting the best deal possible.