Aargh! Insuring teen drivers

[Lady Florida.]

So if your kid will be getting a learner's permit (in my state they can get one at 14, which is one reason I haven't been in any rush with DD because it seems unnecessary at this age), do you still need to notify your insurance co?

 

When ds got his learner's permit I called because I didn't know what I was actually supposed to do. They said I wasn't required legally to notify them, but they request the courtesy of being contacted just so that if something happens (while he's driving), they were aware there was a student driver in your household. YMMV based on your state law or insurance company.

[BlsdMama]

I've got to add this:

 

DD got in a minor accident on Tuesday.  It was her fault, she misjudged her stopping ability and rear-ended someone a bit.  

 

She will lose her two discounts for good driving.  Her insurance will go up approximately $12.50 per month.

 

Now, keeping in mind a few things:

 

She's a girl.

She gets a good student discount.

She's 19.

Her car isn't worth much.

She has liability.

 

But her insurance costs her about $840 per year AFTER the accident.

 

Now, when she bought her car, we took her off main driver status on our 2007 Honda that had full coverage.  That saved us about $360/year in premiums.

 

If he isn't driving a beater, it could actually SAVE you money to go buy a different or another car just to have him in it and put liability on it.

[Scarlett]

So if your kid will be getting a learner's permit (in my state they can get one at 14, which is one reason I haven't been in any rush with DD because it seems unnecessary at this age), do you still need to notify your insurance co?

Not in Ok or AR.

[Jenny in Florida]

Florida is a no-fault state and we don't have those outrageous prices. As I said upthread adding ds 18 only increased our insurance by $800 a year, or about $67 a month. And that's with a big national company (State Farm) not exactly known for low prices. We do get a discount for having both our auto and homeowner's insurance with them, but it's not a big discount.

 

Huh.

 

My 17-year-old son doesn't have his license, primarily because I checked how much it would cost to add him to our auto insurance policy. I checked multiple companies and discovered that all of them would charge us between $200 and $300 per month to add him, even without his own vehicle.

[DawnM]

Everyone I talk to in NC says their insurance goes up A LOT, something like $300/mo extra per young driver.  

[Tsuga]

If you don't want to pay that much, there is an incredibly simple solution:

 

Get a cheaper car. Like, way, way cheaper. Like a 2002 Corolla. Put new brakes on it. I live in a posh area. Two income, 6-figure dual income families, have CRVs older than that as their primary vehicle. Your kid has a VERY nice car. I know that it seems like other kids get nicer cars and maybe they do, but I doubt they're worried about insurance prices.

 

I am assuming she's paying some of the insurance and that it's not the financial pain but the total that is shocking to you, but if not, her helping out could really ease the burden. It is not cheap but then... cars aren't cheap. Life lesson.

[Jenny in Florida]

If you don't want to pay that much, there is an incredibly simple solution:

 

Get a cheaper car. Like, way, way cheaper. Like a 2002 Corolla. Put new brakes on it. I live in a posh area. Two income, 6-figure dual income families, have CRVs older than that as their primary vehicle. Your kid has a VERY nice car. I know that it seems like other kids get nicer cars and maybe they do, but I doubt they're worried about insurance prices.

 

I am assuming she's paying some of the insurance and that it's not the financial pain but the total that is shocking to you, but if not, her helping out could really ease the burden. It is not cheap but then... cars aren't cheap. Life lesson.

 

The quotes I was given from multiple insurance companies assumed not adding a car at all. He would have been sharing my 2011 Scion. Adding my 17-year-old son would still have increased our premiums by at least $200 per month.