-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
May I throw a wrench into everyone's reasonable insurance quote? I'm a single mom with a son that just turned 17 and received his drivers license in November. Nationwide has nearly tripled my rates for the Model S as they insist since he is a minor (male) driver in the same home I must insure him for the Model S as well, even though he will never drive it. He drives my old car, a Volvo S60. So while I've two very safe cars in the home and only one driver per car, I am now paying nearly $9,000 a year for insurance! ANY ADVICE would be greatly appreciated. Progressive has quoted roughly $7k per year. There just must be better options out there. I see a lot of reference to Geico so will for sure give them a ring. ANY ADVICE will be greatly appreciated if you can email me in the system. Thank you so much,
roblab
Active Member
The reason Geico can gamble that you will save ~ 15% when you call them is that the National Insurance Companies tend to raise your rates for every reason they can think of, and then they never go down. I shopped independent insurers (we are with "QBE" and pay $400 / 6 mo with a $1000 deductible) and they can beat Geico any day.
Sure, the teen male driver is a detriment, since the largest death rate is new drivers between 18 and 24 (our daughter died in an auto accident at 26, so you're never safe) but you would think they would start off with a lower rate and up it if there were tickets or something. In California, the grades of a student seem to be an indicator of careful driving. Also, a Driver's Class (Private or school related) lower the rates for a new driver. Being married lowers the rates (for teen drivers, but that may not be worth it!!)
California bans all handheld and hands free use for new drivers. It was considering not allowing licensing until age 18.
Good luck. Shop around, every year. The top ten money makers in business are all insurance companies.
Rachelle,
There are a few ways to work around this. You may very well need to talk to a few insurance companies because each will have it's own rules around this but, I have known the following to be acceptable options either individually or in combination:
1. An exclusion on your policy from your Son from driving the S (note, if he did drive it there could be no coverage on the car).
2. Shifting the Volvo into your Son's name, and having him hold his own insurance on that car.
Peter
There are a few ways to work around this. You may very well need to talk to a few insurance companies because each will have it's own rules around this but, I have known the following to be acceptable options either individually or in combination:
1. An exclusion on your policy from your Son from driving the S (note, if he did drive it there could be no coverage on the car).
2. Shifting the Volvo into your Son's name, and having him hold his own insurance on that car.
Peter
In fact, my dad has the same problem because in certain states (he lives in Maryland), it doesn't matter if my 18 year old brother isn't allowed to drive his Model S, as long as he lives within a 50 mile radius, my dad's insurance doubles. Might I suggest an out of state college? :biggrin: Darn kids.
I went with State Farm because my home is insured through them and with their bundle discount the beat out several other quotes.
I'm 34, haven't had any recent tickets or accidents, my quote came in at $94.00 a month. I set pretty high deductibles for Collision & Comprehensive ($1,000 on each) but honestly for anything less than that I don't want to get insurance involved which will just increase my rate. I want insurance for the big stuff.
I also had them drop:
- Emergency Roadside - Which offered such services as Oil/Gas emergency
- 80% Rental Coverage
That only dropped it a few bucks a month, but at least for the first 4yr/50k miles Tesla has good coverage on that. Why pay for something I'll never use?
I'm 34, haven't had any recent tickets or accidents, my quote came in at $94.00 a month. I set pretty high deductibles for Collision & Comprehensive ($1,000 on each) but honestly for anything less than that I don't want to get insurance involved which will just increase my rate. I want insurance for the big stuff.
I also had them drop:
- Emergency Roadside - Which offered such services as Oil/Gas emergency
- 80% Rental Coverage
That only dropped it a few bucks a month, but at least for the first 4yr/50k miles Tesla has good coverage on that. Why pay for something I'll never use?
Similar threads
