Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Sep 7, 2021

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Insurance discounts are all the rage right now.

Tons of drivers seem to be clamoring to get every possible auto insurance discount out there in order to reduce their overall insurance premium, especially when adding a new teen driver to a policy…Ouch!

(How much is car insurance for a 16 year old?)

Depending on the policy, adding one teen driver could more than double your annual insurance premium. Some parents get their teens a separate policy, but there’s no guarantee it’ll be more affordable. If they’re driving the family cars, it can also complicate any claims when there are two insurance policies covering the same car.

The good student discount is very popular among parents of youngsters. Basically, this discount, which can go by many different names, affords a break in premium for students who maintain a “B”, or “3.00” average in school.

How do I prove I’m a good student?

Insurance companies certainly don’t check your grades by contacting your school. They’ve got better things to do with their time. But they certainly don’t just take your word for it for either. Instead, they ask you to submit approved documents.

A copy of school transcripts or a “most recent” copy of a report card must be submitted with an auto insurance application in order for the discount to be honored.

Your “smiley face sticker” grade from Junior High School will not pass the test. So leave it at your mom’s house.

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What happens if a student’s grades fall?

So you had a tough semester and your current grades reflect it. There is some flexibility. For example, an A student can have some Bs and still qualify. If your student falls below the set minimums, you would lose the good student discount. This can disqualify a student from the discount on the policy when it renews. The key is the renewal.

TTAI is not aware of an insurer that requires grade reports more frequently than at policy renewal.

How fast the discount is removed (if you can’t get your grades up) depends on your policy term.

If you have 12-month policy, you may be able to get the grades up before the policy renews and the insurer asks for a new report card.

If you opted for the six-month auto policy, or that’s all your current insurer offers, you’ll be providing report cards more often.

The best advice we can give is to keep up at least a “B” average. It keeps your parents and insurer happy.

How can you be sure you’re getting the best auto insurance policy rates?

Get insurance quotes online to determine how much you should be paying for car insurance. If you’re making significant changes like adding a teen driver, this is the perfect time to get an insurance quote or three and see how competitive your current carrier is. Check out their good student discount if you have a full-time student and compare it to your other options. This includes college students for many insurance companies. It’s also based on your zip code and where your student lives. Even if you’ve been with your current insurer for a long time, it doesn’t hurt to look for more safe driving and other discounts. You may be surprised at what you get

Once that’s complete, visit or call a local independent insurance agent to have them shop your rate with several insurers to get as close to that rate as possible.

You never know. There is likely a car insurance company out there who can beat your current premium without a good student discount…you just need to shop around.