Gamom3 Posted March 16, 2008 Share Posted March 16, 2008 Ds(18) is looking for a car. He wants to pay cash for it, so he won't need full coverage. He said he looked online last night and did a quick quote on a 1990 Honda and it said his insurance would be $1050 every six months!:svengo: With that quote he could drive my 98 Expedition..which he isn 't. I know that is a quick quote and it would be a little cheaper if he goes under our insurance. But if it is that price, he would be paying $178 a month! I thought if you purchased an older car, the insurance would be cheaper. What is the deal with that????? What have you found that is reliable(has seat belts and airbags:tongue_smilie:) that is cheap(er) on insurance for your kids??? How do people afford for their kids to drive????? Ds works and will be paying for his insurance and what ever else the car needs. There is absolutely NO way we could afford him on our insurance. Quote Link to comment Share on other sites More sharing options...
Sue G in PA Posted March 16, 2008 Share Posted March 16, 2008 unfortunately. I remember my parents musing how much cheaper it was for me to drive than my younger brother! Does ds qualify for a good grade discount? Will they accept hs "grades"? Also, do you have any relatives that served/serve in the military? If so, USAA Insurance offers GREAT rates. Other then that, check into any and all discounts you can get for him and DON'T buy any car (new or used) that would be considered a sports car OR buy a car that is red. For some reason, certain colors raise the rates. Quote Link to comment Share on other sites More sharing options...
melissel Posted March 16, 2008 Share Posted March 16, 2008 It might be worth going through an insurance broker--the kind that can sell more than one brand, that is--to get some quotes. They'll be able to tell you the ins and outs of the discounts, I believe. But yes, insurance for young men is outrageous because they're the highest-risk group, statistically speaking. Does Geico insure in your state? They typically have good rates. Quote Link to comment Share on other sites More sharing options...
GothicGyrl Posted March 16, 2008 Share Posted March 16, 2008 I don't know who your insurance carrier is, but State Farm gives tons of line item discounts, even to new drivers. Could you put him on the insurance with the caveat that he pays you for his share? It might be cheaper for him (and better) to be on somone's established insurance for a bit, then he could search for his own once he's got a few years under his belt. It's because studies have shown that men drive faster and worse in red sports cars. Red is a hot color and most popular. Quote Link to comment Share on other sites More sharing options...
Tap Posted March 16, 2008 Share Posted March 16, 2008 The reduction in price is because the car is less expensive for the ins. co to replace. Since you aren't looking at full coverage, the calculations are based on what it will cost to replace someone elses car. That doesn't change based on what car you drive. That said, there may be discounts he can get in a newer car because of the safety features, like anti lock brakes. The safety features that will help the most are the one that control the handling of the car and the ones most likely to keep him from running into someone else. There are reports online that show how every car ranks for the price to insure. I don't know if it would help you since your not insuring his car..only the damage to someone else's. An agent will be very helpful in determining this. They also may have suggestions on what cars are less expensive to insure, even on liability only. And make sure to call every company for a quote! There are wild differences in prices for insurance rates, especially for a teen. Farmer's Insurance often has fairly good rates for youngins, but they don't always have the best reputation for customer service. Quote Link to comment Share on other sites More sharing options...
NicksMama-Zack's Mama Too Posted March 16, 2008 Share Posted March 16, 2008 I'm just wondering....no experience here. My BIL is paying 2K a year so my nephew can drive his $800 Honda too. :eek: Quote Link to comment Share on other sites More sharing options...
Gamom3 Posted March 16, 2008 Author Share Posted March 16, 2008 I'm just wondering....no experience here. My BIL is paying 2K a year so my nephew can drive his $800 Honda too. :eek: When I called our insurance company they said it wouldn't save him but $100 a year...that's ridiculous!!! Quote Link to comment Share on other sites More sharing options...
Guest Virginia Dawn Posted March 16, 2008 Share Posted March 16, 2008 My son drives a 98 Ford Escort, which he bought from his sister. He is paying $74 a month for liability only. The insurance for that car is in my son and dh's names, since ds is under 18. We have Geico. Oh yeah, I think it helped that he went through a driver's ed. course. Quote Link to comment Share on other sites More sharing options...
Rachel Posted March 17, 2008 Share Posted March 17, 2008 Driver Safety courses help lower the premium and good grades too. Also, the kind of car they have. Do a search for the best cars for teens. Also, they base premiums on "stealability".........if that car is notorious for getting stolen, the rates will be higher too. Quote Link to comment Share on other sites More sharing options...
Journey Posted January 31, 2009 Share Posted January 31, 2009 I work for a major insurance company and we can't insure someone who hasn't had insurance in their name for less than a year, or never. Your son will probably have to go into the Risk Pool (that's why the premiums are so high) because he's a young, new driver. Unless you want to put him as a named insured on your insurance for a year (for our company anyway) then after a year he can get his own insurance and if he keeps his record clean, will not have to go into the Risk Pool. Risk Pools are for young drivers or people with really bad driving records. It doesn't matter if you go to an exclusive agency or one that sells several different companies. You'll, most likely, be told the same thing from all of them. We had a 19 year old call us yesterday. He has two cars and a high performance motorcycle. He WAS on someone else's insurance, but hadn't been since last October. His rate would've been about $5,000 a year! Part of that was because of the high performance motorcycle but mostly it was because he was 19 years old. If you have any other questions, let me know and I might be able to answer them for you. Quote Link to comment Share on other sites More sharing options...
Ria Posted January 31, 2009 Share Posted January 31, 2009 Our twins (19) both have their own cars, but here's how we made the insurance more affordable for them. We are co-owners of each of the twins' cars, which allows us to insure them under our insurance. It's still expensive, but cheaper than what they'd pay if they were the sole owner and policy-holder. Both kids have the same coverage: Bodily injury, property damage, uninsured/underinsured motorist bodily injury coverage, medical expense benefits, comprehensive, and collision. DD has a 2006 Honda Civic. and pays approx. $200/month for ins. DS has a 1995 Lexus (4-door sedan) and pays $130/month for ins. Hope this helps. Ria ETA: Both twins are full-time college students. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.