Car Insurance - (For 16 year-olds)

[Mallardsx2]

HOOOOOOOOOOOOOOLY $hit.

Over $3000 a year to cover my kid? Are you kidding me?

How is a kid supposed to even drive with costs that high!?

What is everyone else seeing?

 

[mevertsen]

HOOOOOOOOOOOOOOLY $hit.

Over $3000 a year to cover my kid? Are you kidding me?

How is a kid supposed to even drive with costs that high!?

What is everyone else seeing?

Sounds about right.

Do everything you can for discounts.

Multi policy
Good student
Driver's Ed

Glad my daughter is not on our insurance any more.

Our insurance for 2 adults, liability on 3 old trucks and full coverage on a 13 year old car with over 200k on the clock is $3k a year. Im not sure what it would be if my daughter was still on it, because we had a 40 percent increase last renewal because of statewide costs and she's been off for 2 years.

Edit to add, last she me tioned it her car insurance is over 500 a month for her car. A 21 Chevy Malibu. She does have some incidents on her record.

 

[D_Walt]

I feel your pain, my wife and I have two teenagers on our car insurance, 4 vehicles; the kids and their cars add around $7k/year I believe. Just wait until she goes to college, that’s where the real pain starts!

 

[Exhausted]

HOOOOOOOOOOOOOOLY $hit.

Over $3000 a year to cover my kid? Are you kidding me?

How is a kid supposed to even drive with costs that high!?

What is everyone else seeing?

I'll find out in July. I'm not looking forward to it.

 

[npaden]

In the old days you could designate a piece of junk car to the kid and only insure them for that car but seems like more insurance companies won't let you do that anymore. Kid is insured to drive the $70k diesel truck, not just the $5k POS that they actually drive.

Adding our son added over $3k a year, closer to $4k.

 

[Mallardsx2]

I feel your pain, my wife and I have two teenagers on our car insurance, 4 vehicles; the kids and their cars add around $7k/year I believe. Just wait until she goes to college, that’s where the real pain starts!

Holy smokes.

 

[Mallardsx2]

In the old days you could designate a piece of junk car to the kid and only insure them for that car but seems like more insurance companies won't let you do that anymore. Kid is insured to drive the $70k diesel truck, not just the $5k POS that they actually drive.

Adding our son added over $3k a year, closer to $4k.

Does anyone know if you can create a separate policy to only insure the POS car to keep the insurance cost low?

 

[Steiny77]

Don't rule out making the kid(s) get a job to help with the cost of some of this stuff.
It's a good wake up call, showing them what is to be expected in adulthood.

At todays labor rates it wouldn't take a lot of work to earn $3,000.

 

[88man]

HOOOOOOOOOOOOOOLY $hit.

Over $3000 a year to cover my kid? Are you kidding me?

How is a kid supposed to even drive with costs that high!?

What is everyone else seeing?

what make model and year

 

[mevertsen]

In the old days you could designate a piece of junk car to the kid and only insure them for that car but seems like more insurance companies won't let you do that anymore. Kid is insured to drive the $70k diesel truck, not just the $5k POS that they actually drive.

Adding our son added over $3k a year, closer to $4k.

This is what our agent told us.

If they live in the house they have access to all the cars.

I imagine that stems from case after case if kids taking mom and dad's car on the weekend and wrecking it and causing all kinds of collateral damage.

 

[mevertsen]

Does anyone know if you can create a separate policy to only insure the POS car to keep the insurance cost low?

Our agent said you could. But the issue is where they live.

If they are in the house, they have access to all the cars.

And the standalone policy would be more expensive anyway, plus the original policy wpuld go up.

 

[Mallardsx2]

what make model and year

A 2013 Ford edge with 225,000 miles.

 

[Mallardsx2]

Don't rule out making the kid(s) get a job to help with the cost of some of this stuff.
It's a good wake up call, showing them what is to be expected in adulthood.

She is 15 and has a job but lets be practical here....

 

[Elktrack]

She is 15 and has a job but let’s be practical here....

I understand completely. I dealt with this with my kids. I wanted them to do the best they could in school, play sports, 4-H, etc. while they could. Expecting them to work every free moment wasn’t reasonable. I wanted them to get the most out of those experiences while they had opportunities.
There’s a lifetime of work waiting afterwards. Thankfully they worked and paid for things as they could but Insurance is crazy expensive.
I had one that got a ticket from an accident while she had her permit. Poor kids insurance got even more expensive for a few years.

 

[mtmuley]

She is 15 and has a job but lets be practical here....

I had a deal with my kids. As long as they were in school, high school or college, I footed the bill for insurance and cell phones. I don't remember our premiums being extreme, but we had pretty modest cars on the policy including our own. mtmuley

 

[rideold]

Yep. It's expensive. We pay our kids' insurance as long as they are in school. They pay for gas.

 

[ashersdad]

I feel your pain. Our boys are 20 and 22 and our car insurance just barely went below $1k/month. It was over $1k/month for the last 4 years. We have the same deal as @mtmuley and will pay their insurance while in school. Oldest boy graduates next month so that will be nice.