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When my son turned 16 and got his license, my agent (State Farm) suggested that we get an old beater and put it in my son's name, even if he never drove it. I can't recall too many of the details, as it's been 30+ years, but we bought him an old VW bug, got him his own minimum liability insurance from Dairyland, and spent the next couple years restoring the car.
Some details that make a difference: We had several cars, most not more than 2 years old and all fairly expensive, so our insurance would have increased more than his policy cost. Also, had he gotten speeding tickets (which he did), State Farm would have increased our premiums even more and might have cancelled our insurance, making our next policy with whatever company even more expensive.
With the VW in my son's name, our insurance did not increase at all, even though he drove our cars on a regular, daily basis -- pickup, SUV, sports sedan, high performance sports car and (rarely) a restored classic '57 convertible. State Farm was fully aware of this plan and endorsed it.
Our daughter was three years younger than son and a straight-A student. She just drove our cars. We had switched to a different (more lenient) insurance carrier by that time, and I don't think our insurance rates increased at all when she started driving. Even though she had several fender benders, most weren't turned in to our insurance company. At h.s. graduation (age 17), we bought her a college car, put it in her name with her insurance, etc. Insurance companies don't penalize girls like they do boys, or at least they didn't 30 years ago, especially not those with top grades.
When my son turned 16 and got his license, my agent (State Farm) suggested that we get an old beater and put it in my son's name, even if he never drove it. I can't recall too many of the details, as it's been 30+ years, but we bought him an old VW bug, got him his own minimum liability insurance from Dairyland, and spent the next couple years restoring the car.
Some details that make a difference: We had several cars, most not more than 2 years old and all fairly expensive, so our insurance would have increased more than his policy cost. Also, had he gotten speeding tickets (which he did), State Farm would have increased our premiums even more and might have cancelled our insurance, making our next policy with whatever company even more expensive.
With the VW in my son's name, our insurance did not increase at all, even though he drove our cars on a regular, daily basis -- pickup, SUV, sports sedan, high performance sports car and (rarely) a restored classic '57 convertible. State Farm was fully aware of this plan and endorsed it.
Our daughter was three years younger than son and a straight-A student. She just drove our cars. We had switched to a different (more lenient) insurance carrier by that time, and I don't think our insurance rates increased at all when she started driving. Even though she had several fender benders, most weren't turned in to our insurance company. At h.s. graduation (age 17), we bought her a college car, put it in her name with her insurance, etc. Insurance companies don't penalize girls like they do boys, or at least they didn't 30 years ago, especially not those with top grades.
None of this is relevant to North Carolina in 2019.
My 18 year old son recently got his drivers license. Nationwide, our home and auto insurer, says he will be/can be added to our policy on February 26, but don’t know what the rate will be.
Just wondering regarding your experiences in insuring teen drivers - pros and cons of a separate policy or adding to ours. We will likely require home to pay all or a substantial amount of the additional cost. He will be primarily driving a 2011 sedan that we currently own. Thanks for your input.
So they issued a driver license without proof of insurance? I wouldn't think that would work in NC.
I think it’s cheaper to add him to yours. Ours was $700 extra for six months’ coverage, I believe
When we added my 16 yr old son 2 years ago, that was my experience as well. ~$110/month extra for 3 drivers and 2 cars. Then it went up to ~$225/mth extra when a 3rd car was added (15 yr old sedan) with him as the primary driver on it. After a year of good driving, it dropped about $50/mth. There was a bit of sticker shock going from <$100/mth for just the two of us (which it had been for years), to $200/mth to add him as a driver, to $325/mth to add a beater car with no collision.
$235/month, 4 drivers 2 of which are teens, covers 4 cars two of which are full coverage. All on the same plan from Utica National.
Pretty happy with that rate considering I have two teens and 4 cars!
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