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Understanding Back to School Car Insurance Discounts

Posted Aug 21st, 2017 in Media, General, Insurance Tips, Auto Insurance, Did You Know?, In the News

There’s no doubt that sending your child away to school is costly, but did you know that this may entitle you to a car insurance discount?

Understanding Back to School Car Insurance Discounts, Youngs Insurance, Ontario

We’ve broken down the four available car insurance discounts below. If you think you may be eligible, contact your Youngs Insurance Broker today!

1 | Your Child Is Leaving WITHOUT the Car

If your child is listed on your car insurance policy and is leaving the car behind when they go off to school, you may benefit from the Student Away from Home Discount. This discount is applicable for a child under the age of 25 who has limited access to the vehicle while living temporarily away from home and attending school, college or university. This discount can save you up to 50% on the premium you pay for listing them on your policy. This helps your child gain insurance history at a reduced rate, while away at school!

2 | Your Child Is Leaving WITH the Car

If your child is taking the car with them to school, you should speak with your Youngs Insurance Broker to make sure your child is listed as a primary driver on the car insurance policy. This will ensure they have the proper coverage in case they need to submit a claim. If the car is in your name, you can add it to your existing auto insurance policy to benefit from multi-vehicle discounts.

3 | Study, Study, Study

Hard work pays off, especially when it comes to good grades and car insurance! With the Good Student Discount if your child is under the age of 25 years old and earns an “A” average (80% or higher) they may be eligible for a 10-15% discount off their car insurance premium. 

4 | New Driver 

As a newly licensed driver, your child can save money on car insurance by successfully completing a driver’s training course. The Driver’s Training Discount usually applies for up to three years after passing the course.

Please be advised that not all of the coverage options and discounts above are available through every insurance provider. Contact Youngs Insurance today to see if your child is eligible for any back to school discounts, or get a no obligation QUICK quote!

>>Get a QUICK Auto Quote Here 


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