A proper executive summary for this topic.
Teens and car insurance....
- Thread starter natenaaron
- Start date
A proper executive summary for this topic.
I can't remember the hit our insurance took with my oldest daughter when she got her license around 1987. I do remember that my youngest daughter didn't want to drive ('97) and as long as she only had a permit for 5-6 years, our insurance didn't go up.
I would recommend an older (reliable) vehicle that does not have all of the technology of today’s new cars. It’s too distracting and could lead to an accident. You may also want to consider a manual transmission. This way, your son’s attention will tend to be directed towards the act of driving the car, and not texting and driving. I would not recommend a driving monitor provided by an insurance company; they will certainly be used against you in the event of a crash, even if your son is not at fault. Insurance companies use these monitors to try to avoid paying claims, which is exactly why you get a discount for using one.
I would echo the sentiment to never, ever consider one of those behavioral tracking things.
The ml systems powering them do not work very well (speaking as a person who does ml for a living).
Frankly I consider the way car insurance companies act to be arbitrary and capricious. No accidents, no tickets and my insurance didnt even drop once I hit 25. I'd just accept that your kid is going to cost you a lot of money.
FWIW I don't 100% get the beater car thing. I've not noticed that to have made a very large percentage difference. I remember being 26 and shopping for a car and talking to Allstate where they quoted me 225 for a ford focus and 240 for an M3. That difference is close to irrelevant (and is, frankly, insulting/a joke). State Farm was the same shtick but move each up about 50 dollars. You can shop around and get quotes but if it's not much difference for insurance I would far rather put my kid in a newer Volvo than some old beater.
I see a lot of people want to be 'tough dad' and teach their kids that driving is a privilege, the consequences of speeding, etc. etc. I don't even have a teenager and I'm laughing at that; good luck to you with that. I think you'd save yourself some angst if you just prayed for them to not wreck the car.
FWIW my parents were pretty chill about it and it worked out just fine.
The ml systems powering them do not work very well (speaking as a person who does ml for a living).
Frankly I consider the way car insurance companies act to be arbitrary and capricious. No accidents, no tickets and my insurance didnt even drop once I hit 25. I'd just accept that your kid is going to cost you a lot of money.
FWIW I don't 100% get the beater car thing. I've not noticed that to have made a very large percentage difference. I remember being 26 and shopping for a car and talking to Allstate where they quoted me 225 for a ford focus and 240 for an M3. That difference is close to irrelevant (and is, frankly, insulting/a joke). State Farm was the same shtick but move each up about 50 dollars. You can shop around and get quotes but if it's not much difference for insurance I would far rather put my kid in a newer Volvo than some old beater.
I see a lot of people want to be 'tough dad' and teach their kids that driving is a privilege, the consequences of speeding, etc. etc. I don't even have a teenager and I'm laughing at that; good luck to you with that. I think you'd save yourself some angst if you just prayed for them to not wreck the car.
FWIW my parents were pretty chill about it and it worked out just fine.
Many newer cars have added safety features like multiple air bags, back up cameras, blind spot sensors, and always-on lighting, etc. Most insurance companies give discounts for the added equipment. You do not have to tell them how the car is equipped; they can get that from the VIN of the vehicle.
An old beater does not have the added safety features. While you might save on the cost of replacement and repair coverage for the vehicle itself, without the safety discounts, the liability coverage will be higher, so the overall cost is similar.
Whatever you do, do not get your son a high-performance vehicle like a sports car. Of course, if you can afford to buy him a Lamborghini or Maserati, you can probably afford the insurance on it.
Teens should have the car and insurance in their name. If they have a collision in a car with my name, I could get sued, and I have assets. If it's in a teen's name, they don't have any assets and are judgment proof. And people sue for major BS all the time and sometimes win, unjustly.
Can a minor have a car and insurance in their name only?
I did. Got license in 1994. it could vary by state.
My son has his grama's old Buick Century! He has 200,000 miles on it now. His grandpa died almost a year ago, I think he's attached to it for that reason. Keeps sinking money into it. I guess he learned from his parents to hate car payments!
You are right. My son is a 19 year old boy. A wake up call was delivered to me on my 20th birthday, as I recall, when my mean old man started charging me rent and made me get my own car insurance. Best thing he ever did for me. My son's day is coming, lol.
I can't complain too much. My folks got me the car; it was an '84 Cutlass Ciera with power windows even! But it was in my name and I had to pay for insurance and gas. Michigan insurance has never been cheap but somehow I made it back then. I have no clue how teens now can afford it, and gas.
funny, when I was 20 my dad paid for my GRE test prep.
without him being nice I'd make maybe half of what I do now.
whether your pride will let you admit it or not, you were denied a privilege that could have significantly boosted the quality of your life, be it economic, fulfillment, the way you view your own children, etc.
I just dont see why people go to such lengths to make excuses for other people treating them poorly, and even worse, pass it on.
You misunderstand. Loved my dad.. I was an irresponsible brat. My son is not. Therefore he is spoiled, by my dad's standards. I've been able to help him out financially and in other ways my loving but crusty father could not.
I wish my dad would’ve worried like this when I started driving in 2007 and had my own car, I paid for the car, insurance, college, (had 2 part time jobs and was studying full time) but my dad had a lot on his plate on other matters to deal with my needs, what he helped me with was that he thought me early on that life is not easy, nothing is free, and that he is not always gonna be there, that said, insurance was an epic pain in my rear, I was a responsible driver but none of that matter, I was young and that was the only thing that insurance was interested on, I know it serves its purpose and we might be worse without it, but something has to be done to make car insurance more bearable!
After I graduated from college, I got my first full time job. I had always been carried on my dad's insurance, even though the car was in my name. Over the next six months, I saved up money to buy a ring, pay for a wedding and honeymoon. However, as soon as I was married, I got dropped from my dad's insurance. Some of the money I planned to spend on the honeymoon had to go to paying for car insurance, bummer. Oh well, that's life. Over 46 years later we are still together, so I would have done it all over again.
Of course you would. Me too. We are far from rich, but everything we own is paid off. All my enemies are self appointed, and there are few of them. Life is good.
Unfortunately, in the 21st century, the average length of a marriage is only 11 years. So much for "until death do we part". The other interesting statistic is that older Americans, those over the age of 45 are more likely to get divorced than those who are younger. I guess a lot of couples stay together for the sake of the kids and then get divorced as empty nesters. Millennials are waiting longer to get married and often have more stable financial situations before they do.
We just added our first daughter to our insurance (in Michigan). We use AAA and the agent determined that would be the least impact by adding her to the car she is actually driving now (2011 Escape) versus just adding her to the policy. My hit was only +21% to our monthly payment, which surprised me, as I've heard the stories from family and friends about the 50-80% hit we could take. Her coverage on that vehicle is the same as ours. She got a little help with a good student discount (saved $200 over the year for that).
That "unstable" financial situation when we first got married was a great training ground to learn how to pull together. Our son was "physically impossible", and after 11 years of marriage came as quite a surprise. At 19 he's still learning how to be a man, but he is working full time and saving a higher percentage than I was.
Those tough years saved our marriage from me, I am sure. I call her the War Department, but I'm sure glad she's not the enemy! Tougher than ANY male friends I've ever had.
The War Department serves two roles, both offensive and defensive. I suspect yours would come to your defense in a heartbeat if anyone tried to attack you physically or emotionally.
Adversity can either build you up or tear you apart; it all depends upon your response. Like they say "whatever does not kill you makes you stronger".
If you purchase most things from Amazon and do not like it, you can send it back for a refund. Unfortunately, some people enter into marriage believing there is a return policy.
