Teens and auto insurance

[rl96ss]

What is the best (cheapest) way to insure a teenage driver?

Bought my daughter heading to college a vehicle and adding her to my policy doubles my rate.

I'm hearing separate policy with just her and I.

Smaller agency with just her.

Shut your mouth and don't add her because auto insurance covers all licensed drivers.

If you've been in this situation, please chime in.

 

[toddnjoyce]

Best and cheapest are not necessarily the same in the insurance business.

Are you a DIY or do you use a broker? I generally recommend people find an independent broker who will answer your questions to shop the various insurers to legally meet your coverage needs at the most competitive price.

Something to consider is whether the insurer will drop or not renew the policy due to multiple traffic tickets or one claim.

 

[kbaxter60]

Maybe check the rates if you were adding a teen SON and see if that makes you feel any better.
Bottom line, the insurance companies get a lot for insuring teens. And they can probably show you why.
I got my best results by adding daughters to my policy, with minimal coverage.

 

[Lonesome Dove]

Get full coverage unless you like buying cars and do a lot of shopping. I have three girls all grown one on their own now.

 

[baboon]

All I can go by was the way my dad took care of me when I got my first car. At age 13 after my older brother totalled out the old mans first new car, he told me that if I planned on driving @16 I best start working & saving. Bought my own vehicles, gas, insurance & maintaince on ever vehicle since I started driving.

I get it things have changed, but the lesson learned would remain the same.

 

[Vaquero]

A paid for beater with liability only.
Put the girl as primary driver of it.
Then she's cover to drive any other vehicles on the policy.
My old 98 model f150 paid for itself many times over.

This was suggested by my insurance agent.

 

[sidebite252]

My daughter got the hand me down beater with liability only. She didn’t like it and I told her she could sure up her game with her own money. I’m probably not the best parent but it made sense to me. It’s more than my parents did for me. She self sufficient 10 years down the road and that was my goal.

 

[Bozz10mm]

Rates can vary vastly depending on the type of automobile. A Toyota Corolla will be much cheaper to insure than a Mustang or Camaro, for example.

 

[Fishkiller]

As some others have said. The least expensive way to go is a 10+ old vehicle and liability only. Also the bigger the engine = more HP = more Premium$. It is expensive no matter what you do. We just bit the bullet and added them to the policy. If you have one car and two drivers she can be the second driver, but looks like that is not an option. Vaquero had a good plan.

 

[rl96ss]

Had Allstate and they're the ones who were going to double price.

Shopped around and going with Travelers Insurance for same coverage as Allstate, but half what I am paying now.
After adding her to Travelers (full coverage)I am back at what I was paying before with Allstate. I can deal with that.
Car was bought cash with the intentent of going liability only.
After seeing the bulk of price increase was for liability, it only made sense to go full.

Car is a 2011 Honda Civic, happily paid for by me for my Straight A since elementary daughter who deserves it, plus some.

Thanks for all the replies only wished I had shopped around earlier....

 

[mongoose]

Rates can vary depending on the vehicle. I asked my Dad if I could buy my Ag teachers 70 challenger with a 440 and a six pack.....he came back and said he would buy me the car ($2500.00)if I kept it fully insured ( $1600.00 every 6 months.). I bought a 70 GMC P/U for $1700.00 with $184.00 every 6 months. I was 17 and it was the 70’s.

 

[oldag]

Rates can vary depending on the vehicle. I asked my Dad if I could buy my Ag teachers 70 challenger with a 440 and a six pack.....he came back and said he would buy me the car ($2500.00)if I kept it fully insured ( $1600.00 every 6 months.). I bought a 70 GMC P/U for $1700.00 with $184.00 every 6 months. I was 17 and it was the 70’s.

Had you bought and kept that 440 six pack Challenger, you could sell it today for several hundred thousand...

 

[GRAYWOLF]

Did you price it with excluding her from your other vehicles? It essentially puts her on her own plan, but you get to apply your multi car discount. She is not allowed to drive any of the excluded vehicles in the "household".

Sent from my SM-G965U using Tapatalk

 

[rl96ss]

Did you price it with excluding her from your other vehicles? It essentially puts her on her own plan, but you get to apply your multi car discount. She is not allowed to drive any of the excluded vehicles in the "household".

Sent from my SM-G965U using Tapatalk

Yes, we will need to sign a document excluding her from driving the other vehicles.

 

[dsgrey]

My kids are adults now but years back, the best was to add them to the family policy but they still get rated against the most expensive vehicle. I once paid around $430 a month about 12 years ago for me, spouse and two kids with no (what I deem) very expensive vehicles versus now paying $105 for two vehicles.

Be careful about liability only. My son dropped his to liability only when he was an adult on a low value vehicle. He dodged a cow in the road and totaled the low value vehicle by going through a ditch and hitting a fence post. Emergency tow (Google - Texas has rates posted) plus couple days storage came to $600 and we were lucky to quickly find a wrecking yard who would pay us $600 and obtain the vehicle. Depending on the wreck and recovery you could easily approach $1k out of pocket in an accident and liability won't cover.

 

[hooper]

I just went through this with my son. He's in college as well and drives an older but still nice Honda. Minimum liability, comprehensive and underinsured/ uninsured was 500 for 6 months.

He is older though so the comparison may not ring true with your situation.

Through Allstate it would have been cheaper to keep him on our policy by about a hundred bucks or so vs. putting him on his own policy. We ended up putting him on his own policy just to start allowing him to build some type of credit on his own (at our expense of course).

It's probably a good time to shop around and get quotes either way. Had a buddy that was also using Allstate, changed companies and saved like half of what he was being charged.

 

[candcallen]

Mine tripled cause they have to rate them on all the cars. They paid the difference. As soon as I can find a place to exclude them for all the cars but theirs I will do it. Most of the increase is rating them on all the other cars.

 

[mongoose]

Had you bought and kept that 440 six pack Challenger, you could sell it today for several hundred thousand...

Tell me about it.

 

[oldag]

Boy am I glad the days of paying for kids insurance are long past.

 

[WT_Foxtrot]

It so varies.....I have teenage/college age drivers and have been from State Farm to Farmers to Geico to Liberty Mutual back to Geico now to Allstate. Their rates change/increase and force me to shop ever 2-3 years. Just expect to switch every so often for a better rate. I always carry liability and comprehensive (I think) for the boys that covers theft, vandalism, hail, etc. But always told them if they pop a curb and hit a telephone pole, it's not covered.

But our boys have always had older, less expensive vehicles too. So a replacement is not a killer.