teen drivers

Submitted by hummingbird on Sat, 11/08/2008 - 16:02

I just wanted to say for everyone who has a new teen driver.I found the best way to get auto insurance for themis, Register the car under your and their name with your insurance policy.They get the perks that you get on your policy. Our daughter 17 years old, just got a vehicle and a part time job. Truck is paid for so we just got liabilty .The insurance only cost 208.00 every 3 months.That is way much cheaper than the route we went with my son. His was way higher but we did not do his the same way which we should have maybe.We went with Farm Bureau.We have 2 other vehicles with them.Hope this helps others :lol:

Posted: 08 Nov 2008 05:38 Post Subject:

Hummungbird..first of all welcome back. Is the $208 just for the one vehicle correct? That doesn't seem too bad for a teenage driver being on the policy.

Posted: 09 Nov 2008 12:01 Post Subject:

Yep, exactly what we've always advised...

Posted: 09 Nov 2008 12:08 Post Subject:

I am coming down with sometimers so by the time my daughter goes to get her license in about 4 years I should have a full blown case of alltimers...Hope I remember this little trick.

Posted: 09 Nov 2008 02:57 Post Subject: fireyone

If you forget just keep coming here for the nest 4 years...lol Yes ,lauri, The 208 is for her vihicle only.That pays for 3 months.Which she has to pay for with her new part time job.We were lucky enough to stumble upon a 1988 Dodge truck belonging to an elderly man(died) in great shape.Inside was newly done and he only drove it very little .The miles were 59,000 something! Should last a long time.The way I understood it ,she can also drive any vihicle we own that has like coverage.Does that sound right to you?That she can also drive my car which has same type insurance.Or do you think she is not covered on her dad's and mine car insurance?

Posted: 09 Nov 2008 10:14 Post Subject:

U am hoping to still be around in four years. I am glad you found such a good deal on a truck like that. You are right it should last. Seems they older vehicles like just about anything anymore was made alot better then.

Posted: 12 Nov 2008 04:36 Post Subject: Teen Drivers and Shopping

Outstanding, Hummingbird! As long as the daughter is driving that vehicle you should be on the up-and-up. One more thing, if you're still in the zone - shop around. Farm Bureau can have some good rates with longevity, but check it out with a few other companies. If you're already locked in, then shop it at renewal. It could be worth it - especially these days.

Posted: 12 Nov 2008 01:12 Post Subject:

I would think that a person would have to be a little careful these days shopping for insurance. What happens if say a company like AIG folds and you have your premiums paid for a year? Are you still covered or are you out of the money you paid for the policy?

Posted: 17 Nov 2008 05:21 Post Subject:

Great question, fireyone.

AIG's problems are actually associated with their reinsurance business - related to securities, not consumer property and casualty business. The NY Insurance Commissioner, Dinallo, authorized AIG to dip into their P&C business to shore up the balance sheet. Not only that, but the generous US government volunteered your tax dollars to make up any difference. Long story short, AIG will probably stay in business.

Not saying you don't have anything to worry about with other companies. Just check out the ratings with the appropriate departments of insurance, and shop away. Anything can happen - even Farm Bureau could go down. So you don't really eliminate that risk by shopping your rates.

To answer your original question - if that company goes bankrupt, I would not expect a refund of premiums.

Posted: 17 Nov 2008 12:06 Post Subject:

the daughter should be covered on all vehicles in the house, typcially they (teens) have to be 'named' or a principle driver (her truck) on one vehicle...then she will be covered on the other vehicles as well...good job!

Posted: 17 Nov 2008 07:45 Post Subject:

Car insurance Guy...I kind of figured you would be out of the premiums if a company folded. Thats a good reason to do a little research before switching companies.

Lori...every now and again I get a form from my insurance comapny asking about the household members and their ages. Does my insurance costs raise if I have a 16 year old or say any age after that ..if they do not have a license?

Posted: 18 Nov 2008 03:40 Post Subject:

The rates of the policy also depend upon the gender of the driver. I won't be surprised if your daughter has got the deal because of it. The insurance companies assign lower risk to female teen drivers and therefore charge less. Anyway, good luck with the young driver. Hope your suggestion will help the community members who are worried about getting a policy for their teens to save on it.


Posted: 18 Nov 2008 11:35 Post Subject:

Does my insurance costs raise if I have a 16 year old or say any age after that ..if they do not have a license?

In my state if you have a LICENSED driver in the house they either have to be rated on one car or excluded on all of them (if the carrier knows about it)....I've read on this board however that all states are not that way....might check with your agent on that fire..

The insurance companies assign lower risk to female teen drivers and therefore charge less.

True, and stupid...IMO boys cause larger losses, but girls oh my gosh, they are the most reckless FAST drivers out there....makes me nuts.

Posted: 18 Nov 2008 05:33 Post Subject:

I will check but we aren't to that impossible age of 16 yet. What happens if you exclude them on all the vehicles. I guess I don't really know what that means..exclede them from driving (no problem,LOL). What happens if she is in wiht me and I get in a wreck with me as the driver?

The thing about girl drivers being less expensive is really an eye opener and I feel on the unfair side.

Posted: 18 Nov 2008 11:39 Post Subject:

It is always suggested to new drivers and teen drivers to get on their parent's policy if possible. This does usually save money. However, you must keep in mind that males at 16 are considered a much higher risk than females and the rates will always be higher for males. Also, the type of vehicle you have them on and the coverages can make a difference as well.

Posted: 19 Nov 2008 02:51 Post Subject:

I would set mine up in an old junker. It would be reliable but I would not want to give them a car of really high value until they had some experience driving and they could prove to me that they take the priveledge of driving seriously.

Posted: 17 Aug 2011 02:14 Post Subject: great topic

Just examined the thread! Awesome work. LINK REMOVED by Moderator MaxHerr per TOU

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