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Adding a teenager to my insurance policy….

Ummm why does my monthly premium double?

In any case I’m not the one paying it. The teenager is.

He scrounged up enough money to buy himself a little starter car.

Case in point my husband and I have a monthly premium of $258 for a 2022 suburban and a 2016 minivan.
Adding my teen and his little 2002 hatchback raised our premium $250

We added him to our policy to get the discounts
Our cars have Liability, collision and comprehensive with $100 deductible

His has liability and collision no comprehensive and a $500 deductible….

It’s insane honestly 😭😭😭
Good thing he has a job* and is paying for it.

If he purchased his own policy his monthly premium would be $315 to $380
And progressive quoted a whopping $635 a month! 😳😳😳

Do they realize teens mostly get minimum wage jobs they’re working just to afford car expenses 😅😅😅

Good things he’s applying to the electrical union once he graduates from HS

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OverTheHill · 56-60, M

I'll soon be adding our teenager daughter to our policy. She plans on buying our son's car, and I have no idea what that will do to the insurance policy.

I understand that teen drivers are an insurance risk, however insurance rates are out of control for everyone.

SW-User

Youre adding another car and driver.. why wouldnt it double? The liability is in medical bills and damages to make the other party whole. More than just the car

KaysHealingPath · 36-40, F

@SW-User because if I add the car alone it’s only $80 a month more
If I add the car with all my current coverages that is

If I add him and the car with my current coverages my monthly premium goes up to $750 a month

So I had to decline comprensive coverage and raise the deductible in order to get a somewhat decent quote.

it would be irresponsible to have an uninsured driver on the road so having him as a driver covered is a must.

SW-User

@KaysHealingPath oh wow, i didnt realize it was jumping to $750..

That's outrageous.. but you have uninsured driver on your policy..

I stayed off the insurance until I was 24.. but the car was insured, so it was fine..

Did you try geico?

KaysHealingPath · 36-40, F

@SW-User yeah they wanted $3700 for 6 months 😳😳😳

It was just cheaper to add him and his car to mine and to cut down some coverages and increase his deductible

He can stay on my policy until he’s 25

I got it down to like $511 for all our vehicles and adding him
That’s a little over $200 cheaper than if I kept all my current coverages

come2gether · 41-45, M

Interesting information, that you're getting the coverage you're getting without your son on the policy for just a $100 deductible. I have my 2 cars (a 2021 SUV and a 2010 SUV) with full coverage, with a $500 deductible, and my homeowners insurance, all with one insurance company and my monthly rate is $330 or somewhere near that.

Wondering if I should check out some competition and see what is offered

View 1 more replies »

come2gether · 41-45, M

@KaysHealingPath I'll look at allstate

KaysHealingPath · 36-40, F

@come2gether Costco has great insurance through American family if you’re a Costco member

Shop around no harm in looking into saving some cash

come2gether · 41-45, M

@KaysHealingPath not a costco member, too far from me

SunshineGirl · 36-40, F

Similar price in my country. Reflects the level of risk to the insurer. Unless he has an immediate practical need for a car of his own, best to delay it for as long as possible and the cost will reduce.

KaysHealingPath · 36-40, F

@SunshineGirl he’s got a job and where I live the bud stops running at 10pm and some days his shifts go past 11pm (midnight or 2 am) so yes, he does have a need for a car.

If I still lived in the city the major streets run 24/7 he’d probably still have to walk a few blocks here and there but that’s better than where we’re at now

SunshineGirl · 36-40, F

@KaysHealingPath That's frustrating for a young person when they are just trying to get on with their life.

tfan123 · 41-45, M

If you had an older car it would cost much less. The year of the car and also for some reason if it’s red also increases the cost of the insurance.

KaysHealingPath · 36-40, F

@tfan123 it’s a 2002
And it grey

tfan123 · 41-45, M

@KaysHealingPath I’m talking about if it was a 1990’s car. That would be really cheap and easier to maintain in my opinion 👍🙂

KaysHealingPath · 36-40, F

@tfan123 not that much cheaper we had the option of a 95 Toyota
It was also $80/mo just the car under my name. Same outcomes if it’s under his name
the Toyota was my uncles he was willing to sell it to my son, but he picked the neighbors Acura instead- it only has 130k miles vs my uncles Toyota that has almost 300k miles 😳

Jenny1234 · 51-55, F

My boys put their cars in my name and are listed as primary drivers which was the only way they’d be able to afford car insurance here. The city I live in has the highest car insurance rates in Canada.

KaysHealingPath · 36-40, F

@Jenny1234 that’s crazy

as long as there is no accident you should be okay.

KaysHealingPath · 36-40, F

@Aliveshock oh yeah he has no accident history

And since he’s on the policy if there is an accident that’s the point of the insurance.

@KaysHealingPath
insurance lis legally required.
So glad he has been careful so far with his record of driving while still in High School. Just be nice to him and he should behave. 🙂

DDonde · 31-35, M

Premiums are getting crazy

LordShadowfire · M

[quote]Ummm why does my monthly premium double?[/quote]

Because teenager. Insurance companies are all about hedging their bets. And the safe bet is that a beginning driver is going to be making more mistakes than an experienced one.

KaysHealingPath · 36-40, F

@LordShadowfire this is true. Still outrages compared to the $150 I was laying at 18 😅

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