The GEICO student discount allows policyholders who qualify to save on their insurance premiums. Many insurers sell auto insurance for drivers under 25 at costly prices. Car insurance for students and other young drivers can be 115 percent higher than auto insurance for the average driver. This is why GEICO grants special discounts to students.
What Are the Student Discounts Offered by GEICO?
GEICO offers the following discounts to full-time students:
Good Student Discount
Any high school or college student with excellent grades is eligible for the GEICO good student discount. Recipients of this offer enjoy a 15 percent discount on their vehicle insurance policy. GEICO created the good student discount to help students afford the expensive insurance premium for young drivers.
Good Driver Discount
Only drivers who have maintained a clean driving history for more than five years can qualify for the GEICO good driver discount.
Affinity Membership Discount
To qualify for an affinity membership discount, you must be a member of a sorority, fraternity, campus organization, or alumni organization.
How Do I Qualify for GEICO’s Good Student Discount?
You need to fulfill the following requirements to become eligible for the GEICO good student discount:
- Full-time Education: You must be a full-time student to qualify for GEICO’s good student discount. The insurance company does not accept applications for part-time students.
- Excellent Grades: Potential applicants must possess excellent grades to prove that they are diligent and deserving of the discount. Wallethub states that college applicants must maintain at least a 3.0 GPA in their grades. High school students must have a minimum grade average of ‘B’ in their school results to qualify for the discount.
- Younger than 26: Policyholders 26 years old and above are not eligible for the good student discount.
What Are the Things I Need to Consider When Applying for GEICO’s Good Student Discount?
Before applying for GEICO’s good student discount, check out the student discount deals at other insurance companies. Compare these options and select the insurance quote that you think will be most suitable for your needs.
Is it Cheaper to Stay on a Family Policy?
Adding yourself to a family insurance policy will help you save money.
What Are the Other Ways for Students to Save on Car Insurance?
Apart from GEICO student discounts, you can reduce the amount of money you spend on car insurance by sharing an insurance policy with your parents. According to WalletHub, a 16-year-old student will pay about 38 percent more on individual student insurance than on a shared insurance policy.
ValuePenguin says that you can reduce the cost of your insurance premium over time if you maintain a good driving record. That said, taking safe driving training will help you save money on insurance in the long run. Progressive, GEICO, and other major insurance companies offer safe driving training to their teenage and young adult policyholders.
You may be eligible for an away discount if you don’t take your car when you go to college, and you don’t drive at school. If you explain the situation to your insurer, they might give you a discount to cover the period when you are not driving.
How Do I Get the GEICO Affiliation Discount?
You need to be a member of a GEICO partner organization to become eligible for the affiliation discount. Policyholders who are members of organizations with over 50,000 active participants also get a pass. Nevertheless, such organizations must be fraternities, sororities, charities, alumni organizations, and societies.
If you are a member of a GEICO partner organization, visit the organization’s website and log in with your member details. Then, click on the ‘Member Benefits’ section and look for the link to the GEICO insurance quote.
In case you encounter any problems while getting the discount, you can call a GEICO customer service representative at 800-207-7847 to help you out.
What Are the Popular Organizations with GEICO Affiliation Discounts?
WalletHub reports that GEICO offers affiliation discounts to members of its partner organizations. Some of these partners are:
- World Golf Tour
- Texas A & M University
- National Association of Federal Employees
- BJ’s Wholesale Club Members
- National Association of Government Contractors
- National Peace Corps Organization
GEICO banks on the influence of these partner organizations to market its services and increase its customers. In return, members of these organizations enjoy discounts on their GEICO insurance policy. Whenever a member requests an insurance quote, GEICO gives the organization a commission fee.
Do I Need to Submit Proof of Good Grades?
Once you purchase an insurance policy, you need to submit proof to the insurer to show that you have good grades. A printed copy of your most recent college or high school transcript will suffice as proof to the insurer. First-year college students who want to apply for the good student discount can take a standard test and submit the percentile score to GEICO.
When Do Students Need to Buy Their Own Policy?
As students, it is cheaper to share an insurance policy than to buy a standard student insurance policy. Nevertheless, there are a few cases where getting an independent student policy might be the better option for a student:
- If the student drives a car full-time and they do not live with their parents.
- When the student’s college is located in an area with lower auto insurance rates.
- If you have a family member who increases the total insurance cost of the family policy because they have a poor driving record.
What Are the Benefits of a GEICO Car Insurance Policy for Students?
According to GEICO, students can save as much as $100 to $200 if they buy a GEICO insurance policy. A student who purchases a GEICO insurance policy will enjoy several discounts, such as the good driver discount, good student discount, and affiliation member discount.
GEICO offers round-the-clock customer care service. So, students who are GEICO policyholders can contact the company’s representatives to ask questions about the policy anytime the need arises.
Check this out if you need additional information, resources, or guidance on car insurance.
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