W.K. asks from Florida, NY on October 13, 2008
Curious About Car Insurance for Teenage Boys
My son will be 16 in January... He will be getting his permit and eventually his license - he kinda has too in the sticks here unless I play taxi driver for him which wont last long anyway.
My question - if you have teenage boys - how much did you see your insurance change? Or go up?
J.M. answers from New York on October 14, 2008
My 16 yr old son just got his license in August. We have 3 cars and 4 drivers in the house so he's considered a part time driver on one of the vehicles. It's costing us an additional $360 per six months. we looked in to getting him his own car, which would of course remove the part time status and the rates were close to $900 per six months. Driver's ed classes no longer count as an insurance discount, the discounts are based on "good student" standing - maintaining a B average or better( which mine does so imagine the rate without!) Hope this helps! J.
V.S. answers from New York on October 14, 2008
I have daughters, but at 16, it makes no difference. We put my daughter on the insurance as a part time, low mileage driver when she got her learner's permit. I added her as a driver for my car only. We didn't list her a a driver on my husband's car, and we didn't buy her her own car.
We have Met Life,and the cost went up by $960 per year. We got discounts when she took her 5 her course, and also got what they call a "good student" discount. When she left for college we change to an "away student" policy and saved $300. I like having her in college!
N.D. answers from New York on October 14, 2008
There's a commercial on tv right now about a boy that drove recklessly and hurt someone, they sued and the parents lost everything. This can really really happen. Even though I am sure your son is very reliable, stuff happens with kids. I am suggesting you take out an umbrella policy to cover any event along with car insurance. Its really cheap if you get it from your usual insurance company. Also since he is 16 make him get a job to pay for the extra costs.
A.G. answers from New York on October 14, 2008
It will go up a lot unfortionatly but have him take the defensive driver class. Also if you and anyone else on your policy take it you will each get a discount. Also do comparison shopping and don't just pick one because it is a major name. We use Geico and pay a lot less than we would with Allstate for the same and in some parts better coverage. My parents also have Geico and when they had an accident the company was very thourough and quick. My father was very impressed. They may not be the best coverage for you but if you go to the different companies web sites you can "create: your own insurance and get a quote. A.
V.M. answers from New York on October 16, 2008
Call around to different insurance companies for rates. You can put hiim onto your policy, probably cheaper than getting his own policy. Also, some companies give discounts for things like good grades. It never hurts to ask. Insurance companies are all different, but my insurance only went up about $70 per month when I put my daughter on the policy (she's now 21). My 2nd daughter will have to be added soon because she is also 16 and has her permit but I haven't added her yet so I'm not sure what it's going to cost me.
A.C. answers from New York on October 15, 2008
W., the amount YOU pay in car insurance doesn't have to change one bit as long as your son has a part time job and pays the difference. :)
My SIL is currently shopping for car insurance for my teenage nephew--shocking news to her was how it can vary from town to town--a few different agents confirmed the town they live in raises the premium versus if they lived in a neighboring town--I think this may have been based on a statistic of a higher percentage of teen accidents in that town over the years. So apparently it can really vary!
D.D. answers from New York on October 14, 2008
Mom of 4 and I currently have 3 drivers under age 24. We have 5 vehicles and 5 drivers. Allstate was very expensive at $2000.00 per child per year all with no accidents. Shopping around I ended up with Geico who charged $3700.00 for 5 drivers on 5 vehicles.
A lot has changed since I started driving hummm well a long time ago. No lower rates for insuring girls so your son isn't going to be paying more money because of gender. No discount for sending your kid through drivers ed. There is a good student discount.