How much will my car insurance go up?

[luvmy3jewels]

This has been a very enlightening (and scary) thread! Does anyone know how many years a driver has to have their license before the "inexperienced driver" penalty goes away?

 

[MrsPete]

We were paying about $1000/year for two adults' car insurance and our house insurance combined . . . adding a third vehicle and our 16-year old brought it up to about $2600/year. Ouch.

Notes:
We keep rather high deductibles.
We pay by the year -- it's less expensive.
We carry liability only on our oldest, least expensive car; that's the one that the 16-year old is driving. Although it's worth something to us, its Blue Book value is 0. On the other hand, if we had to replace our two newer vehicles, we'd be in some financial distress.

 

[MrsPete]

This has been a very enlightening (and scary) thread! Does anyone know how many years a driver has to have their license before the "inexperienced driver" penalty goes away?

Back when my daughter got her learner's permit, I had a long discussion on all these things with my insurance agent. Your state /policy specifics may vary, but here's what's true for me:

Her insurance'll go down when she turns 18, then it'll go down again at 21, and finally she'll be able to get the lowest rates her father and I enjoy at 25. Of course, that all assumes no tickets. Bad driving could raise the rates.

Girls are no longer cheaper than boys.

Not all states allow for a good student discount (I was bummed about that one).

 

[patsal]

NY. You do not add until they are liscensed, permit does not change premium amount or coverage. My ins was $999 per year it is now $1549 per year with an 18 yo male driver added, he was 17 when he was added.

 

[swilshire]

Due to finances a year later I had to remove DS from my insurance so he is taking the bus which he seems to do very well. Infact, he is able to get a student bus pass for $15 per month . Can't beat that.

I'm surprised you could do that as long as he is living with you. Most insurance companies require you to list any licensed driver, whether they actually drive or not.

Sheila

 

[JB2K]

So, if you have added a 16 year old to your policy, how much did the insurance go up? And if your child is 16 but still has their permit vs. a license, do you have to add them to your insurance? I am a little scared! My insurance is less than $800/year right now.

No matter the answers you are going to get, here, they are not going to be 100% accurate to your own situation, as everything car insurance is regulated by the indivdual states.

Especially, given the fact that the majority of the people here are from New Jersey, which is the most expensive state (for auto insurance) in the nation.

You might benefit from giving your policy a quick glance to redetermine what coverages you do/don't need.

And you may also do well to shop around with some of the places that advertise on TV.

Also, if you (or your spouse) is military/honorably-discharged veteran, USAA is definitely worth checking-out...

 

[torinsmom]

No matter the answers you are going to get, here, they are not going to be 100% accurate to your own situation, as everything car insurance is regulated by the indivdual states.

Especially, given the fact that the majority of the people here are from New Jersey, which is the most expensive state (for auto insurance) in the nation.

You might benefit from giving your policy a quick glance to redetermine what coverages you do/don't need.

And you may also do well to shop around with some of the places that advertise on TV.

Also, if you (or your spouse) is military/honorably-discharged veteran, USAA is definitely worth checking-out...

Actually, my dad is my insurance agent and I am still scared to ask, LOL. I have great coverage, which I why I pay a little more than Geico quoted me online for just me. I'm willing to pay a little more for some things like uninsured drivers coverage and medical payments in the case of an accident. I may have to up my deductible, as that could make a big difference.

Marsha

 

[dawson5]

We have State Farm and I have a 17 yr old. He does not have his license yet.

I was told that it would be cheaper at 17 than 16 for a license. I think she said the next discount (age) he would see would be around 25 yrs of age. I pay about $65/mo for full coverage on my vehicle. Adding him as a licensed driver would make it around $200/mo. I can't remember if that had any discounts added to it besides the no accidents on my car. This was adding him to a Volvo XC90.

He bought a car and he and his dad have been fixing it up. To insure him on that, just liability, it will vary between $75/mo to $130. He can earn discounts for a B average (3.0 GPA) and the Steer Clear program. The Steer Clear program is a dvd and a booklet that they fill out. They log trips that they make with you and answer questions about things that happened during that trip. This is all based on a 4cyl, two door, convertible mustang.

 

[tar heel]

North Carolina -- $1,600 for us. We did not add a car. We do have a lot more than the minimum required insurance. Boys cost the same as girls here.

If your son isn't really interested in driving, I wouldn't push the license. One of my kids had no interest in practicing or getting his license, so I can tell you that the permit expires on the 18th birthday. You can renew it, of course, as many times as you want.

 

[SeansMom]

I did not add my daughter until she got her license, my insurance basically doubled when I added her to it. I started out at about $1000 a year and am now $2000 per year.

Ditto (only I have a son!).

Also, I'm in the process of adding extra coverage. I want to make sure if he is ever in a horrific accident we have plenty of medical coverage.

 

[herdtoDisney]

We have State Farm and I have a 17 yr old. He does not have his license yet.

I was told that it would be cheaper at 17 than 16 for a license. I think she said the next discount (age) he would see would be around 25 yrs of age. I pay about $65/mo for full coverage on my vehicle. Adding him as a licensed driver would make it around $200/mo. I can't remember if that had any discounts added to it besides the no accidents on my car. This was adding him to a Volvo XC90.

He bought a car and he and his dad have been fixing it up. To insure him on that, just liability, it will vary between $75/mo to $130. He can earn discounts for a B average (3.0 GPA) and the Steer Clear program. The Steer Clear program is a dvd and a booklet that they fill out. They log trips that they make with you and answer questions about things that happened during that trip. This is all based on a 4cyl, two door, convertible mustang.

I have State Farm also. My oldest ds' insurance did go down when he turned 17 (a few dollars). He did Steer Clear, and has Good Student-insuring him on our '97 Cavalier costs $88/mo. He pays, he has a job. It wasn't nearly as much as I had feared-when I called (while he had his permit) I was suprised to find it so reasonable. We've been customers of State Farm for decades.

The kind of car you insure a kid on, has an effect on price too. We have all older, paid for, cars. We only carry collision on on Dh's truck, my van and the Cavalier aren't worth much so we don't for them (we carry everything else). To insure DS on an SUV or sportscar would cost much more.

 

[2minnies]

Did not have to add DD until she received her license. Insurance went up $350 per year without an extra car. When we added an additional car it went up a total of $750 (2008 Accord with full coverage). Call around and get quotes. We stayed with our current insurance company but I received quotes up to $1000 more per year for the same coverage.