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suzer22
Suzer22  (Level: 165.6 - Posts: 1982)
Tue, 10th Mar '09 10:05 PM

AUTO INSURANCE

HOLY COW it costs a lot to add a 16 year old boy onto your car insurance policy!

My policy will more than double, even with the 'good student' discount!

oogie54
Oogie54  (Level: 201.4 - Posts: 1120)
Tue, 10th Mar '09 10:58 PM

I remember those days Suz, no way around it either.

lodi
Lodi  (Level: 98.7 - Posts: 2144)
Tue, 10th Mar '09 10:58 PM

I don't know if this will work or not, but I was told to do this when my daughter started driving. Buy them an old clunky car, and put them as the primary driver on that car, and not on yours. Then they get the rate based on the old car instead of the newer car. I'm not sure if it made much of a difference, but that's what we did. I don't recall the rates but I don't remember them being horrendous. Maybe because she's a girl. My son is 13, however, so I'll get to find out how much of a joy that will be in a few years.

chickfbref1
Chickfbref1  (Level: 120.7 - Posts: 2012)
Wed, 11th Mar '09 1:10 AM

Not that I would know (I'm not an agent, but there REALLY is a benefit to having one)...having worked for a good neighbor for about 19 years, call your agent.

Young men (sorry guys) really do account for a large portion of the accidents, and they are disproportionately costly (& deadly). If your son is soon to be driving, it's in your best interest to explore ALL options, the foremost is keeping him in a safe car that he is appropriately rated on. Need to explore if there is an "owner's liability" law in your state. We don't have it in IL, but some states do.

Lots of stuff to think about.

Me.

aquamar
Aquamar  (Level: 179.0 - Posts: 910)
Wed, 11th Mar '09 2:00 AM

I'm facing pretty much the same thing Suzer except mine is a girl and she is dying to get her license. Its like you said, even though the kid gets good grades they assume that kid will drive your car. If you have a new car the insurance will be higher. I have been making her wait because I'm not sure I can afford the increase. I'm pretty sure that I will also have to have that owner liability insurance.

suzer22
Suzer22  (Level: 165.6 - Posts: 1982)
Wed, 11th Mar '09 2:08 AM

The good news is that his dad and I don't BOTH have to add him onto our insurance (we aren't married, and thought we each had to add our son to our own policy before he could drive both cars). Turns out that one parent just needs to list him as an 'other' driver and show proof that he has insurance with the first parent!

Luckily we are on friendly enough terms that we can do that, and then split the cost on one policy!

And the poor kid isn't getting his own car, clunker or otherwise...but that's an interesting thought, to see what the difference would be.

On top of it all, his mom, dad and stepmom all drive stick-shifts, so that's what he had to learn on. He has chosen my pick-up truck for tomorrow morning's driving test!

Cross your fingers

pennwoman
Pennwoman  (Level: 155.2 - Posts: 2478)
Wed, 11th Mar '09 9:59 AM

Ugh, I remember those days -- I was single mother with 3 teenagers driving --- with one vehicle -- My daughter was involved in 2 accidents -- all where completly not her fault -- her boyfriends brother backed into the car once when it was parked and one time a trucker, hauling garbage, smashed into the side of her, in front of witnesses, when he was turning about -- and he drove off -- she followed him to the landfill --- he knew he hit her but when he saw it was a young girl, he thought he could get away with it...The guys at the landfill, gave her a round of applause when she gave the driver a piece of her mind! I knew I did okay with her, then, she is a sweet girl, but tough!

papermanbill
Papermanbill  (Level: 41.3 - Posts: 1313)
Thu, 12th Mar '09 6:37 AM

Having three sons (all with new cars) our policy was $3,200.00 every six months with All State. This was full-cover insurance and we thought it was the going rate. After almost totaling one of my new pick-ups last year, I did a little shopping. All I had to do was call my local State Farm agent. After an hour interview, our policies,with the "same coverage" were cut almost in half. We had a good relationship with our All State agent but I'd hate to really know the extra money we paid. My sons are 21,25 and 29 and they have had a few minor moving violations, only one small accidnet ten years ago. My youngest still gets Good Student discount and pays about $1,200.00 a year on a 2008 Pontiac, full coverage. No personal reflection on anyone here, do single parents have higher insurance rates ?? Insurance companies do have wierd rules. If I ever received a minor violation driving a commercial vehicle, I would have to go to court and get it dismissed or my personal insurance rates would go up. When I said get "dismissed", that means showing proof of repair on a broken light or other violation.

papermanbill
Papermanbill  (Level: 41.3 - Posts: 1313)
Thu, 12th Mar '09 11:12 AM

bump


suzer22
Suzer22  (Level: 165.6 - Posts: 1982)
Thu, 12th Mar '09 12:31 PM

I don't know about the difference between single parents and married households, but I do know that when I moved 2 miles my rates changed. Something about the number of accidents that occurred in the area. My mom moved to a small town and the insurance agent accidentally used her address as mine and my rates went WAY down!

I was with Travelers for home and auto but got a much better rate at Geico for auto, but not home. It all seems like a huge scam to me. The only time I got in an accident they wouldn't cover it!

Anyone know about Mortgage Insurance...aren't you supposed to have this during the first half of a mortgage contract? I thought I had it but don't see it on any policy anywhere. Or on my mortgage statement.

goddess28
Goddess28  (Level: 92.6 - Posts: 5236)
Thu, 12th Mar '09 1:39 PM

You don't "have" to have it, but it is recommended usually by the lender who will be happy to sell it to you.

lodi
Lodi  (Level: 98.7 - Posts: 2144)
Thu, 12th Mar '09 1:39 PM

Mortgage insurance usually insures the bank in the case of your default and they can't recover their losses after a foreclosure or bank resale. Mortgage insurance can be avoided by putting at least 20% down. If you don't have it on your loan, feel lucky.

lodi
Lodi  (Level: 98.7 - Posts: 2144)
Thu, 12th Mar '09 1:50 PM

PS: If you were told you had to have PMI and can't find it as a separate line item in your mortgage statement, its possible the bank included it as part of your financed closing costs and increased the total mortgage by that much.

smeans
Smeans  (Level: 109.2 - Posts: 301)
Thu, 12th Mar '09 3:22 PM

I just keep waiting for the day to come that my daughter actually studies her Driver's Handbook enough to pass her dad's test and go get her learner's permit. She's already 16 but will not sit down and read the book. She just wants us to cough up $15 a whack for her to go keep trying to take the test. Um....no kid....not happening....if you fail that test 10 times that's $150 blown because you wouldn't sit down and read a book and study it. If I have to hear one more time that "such and such's parents didn't make them do this and just paid for the tests until such and such passed," I will scream. My reply is, well you don't have such and such's parents....you are stuck with us, so deal with it.

I could probably find cheaper insurance than the Met insurance we have now but it's just so dang convenient that they just take $45 out of Rob's paycheck every two weeks, we never see the money so it can't be held back because we are in a bind financially for a little while. Now if Rob looses his job then you bet your bottom dollar that I will be shopping for other insurance because I know that we can find insurance cheaper than $90 a month around here for me and Rob. Both of our cars are 10+ years old and paid off so we don't have to carry full coverage insurance. Plus I have never had an accident, Rob hasn't had one in the 12 years I have been with him, though I think he had one as a teen. So our driving record isn't all screwed up and that helps keep our insurance down.

However it will be interesting to see just how much it goes up once we add our daughter to it and in another 8 years add our son. That is the one that I am really dreading.

papermanbill
Papermanbill  (Level: 41.3 - Posts: 1313)
Thu, 12th Mar '09 6:10 PM

Try Driver's Ed, they did all the dirty for me. My nephews were straight F+ students except for Driver's Ed., they were A+.

suzer22
Suzer22  (Level: 165.6 - Posts: 1982)
Thu, 12th Mar '09 9:11 PM

My son did take drivers ed but they don't do any behind-the-wheel training anymore, only on simulators. And the high school I teach at does not offer the course at all - it is not offered anywhere in my district because of the liability issues.

foogs
Foogs  (Level: 267.9 - Posts: 848)
Thu, 12th Mar '09 9:27 PM

Local community college?

Not cheap, but that's how our school district does it.

foogs
Foogs  (Level: 267.9 - Posts: 848)
Thu, 12th Mar '09 9:28 PM


I forgot: Earth goddess mother protect our troops.

snookerballs
Snookerballs  (Level: 37.9 - Posts: 35)
Fri, 13th Mar '09 5:19 AM

Maybe all of Illinois' governors' programs weren't that crooked after all. For $75.00, all I had to do was sign and take them for their road tests. All three of my sons had their own car before they were 16 1/2 .

papermanbill
Papermanbill  (Level: 41.3 - Posts: 1313)
Fri, 13th Mar '09 5:20 AM

Sorry, editor police, I forgot to change screen name. Mercy, please.

smoke
Smoke  (Level: 96.7 - Posts: 12009)
Fri, 13th Mar '09 9:22 AM

Why don't you just pick one?

wordster
Wordster  (Level: 159.5 - Posts: 911)
Sat, 14th Mar '09 6:36 PM

papermanbill I think you must be exaggerating. How could your nephews be F+ students with a brainy Unc. like you?
By the way I understand it's very very expensive to insure kids/young people here too. You have to pay higher insurance and have much higher excesses (deductibles) until you are 26 here in Britain!


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