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Car Insurance Hell

January 5th, 2009 at 07:28 am

My son turns 16 next month. I called today to find out what that will do to our premiums. Once the initial shock wore off, I came up with some different options that doesn't make the increase too bad. My son is going to be paying the insurance, but he needs a number he can handle!

So...if I reduce the coverage on my vehicle which is paid off to liability only, but raise the rate of liability coverage(due to a young driver), there is only a $40 increase per month. This is probably the best option. However, I lose my roadside assistance and comprehensive. I haven't reduced the coverage simply because I was worried about something happening to the car. If the car was totaled and it was my fault, than I would need the money that the insurance would pay under full coverage to replace the vehicle. Make sense?

I just spent an hour on the phone with the insuance agency going over all the different options. I don't know if I absorbed it all. My head is swimming trying to figure it all out!

4 Responses to “Car Insurance Hell”

  1. Nika Says:

    It could be a lot worse!
    When DH was a new driver, his insurance was over $400 A MONTH!
    And that was with great credit score, clean record and an old paid for sedan. And he was 24, not 16.

    The problem was he had to get insurance right after he got his license - we had to get a car because he got a new job in NJ (we lived in NYC and viewed cars as a convenience and a luxury, not a necessity).

  2. Slowlygettingthere Says:

    I understand... My dear daughter(almost 17)bought a 87 mercedes.... Excellent car in case of an accident (I call it the beast), but I just paid $480 for 6 months of insurance for her. Keep in mind that included all of the discounts (that's something you want to talk to your agent about-grades, etc.). So I would gladly trade with you! Good luck! I have to say that I really love having another driver!

  3. Joan.of.the.Arch Says:

    Similar to what Nika said, many kids around here do not get to drive until they first get a job. The insurance is just too much for the mostly lower middle class families, and the risk of vehicle loss is just too great for families who depend on a single car for one or two adults to get to their jobs.

  4. Ms. Pearl Says:

    My daughter turns 15 in three months so that means in 9 months she will have her learners permit. How did that happen? My husband just today brought up the extra expenses we have to face in just over a year. C. plans on getting a part time job, maybe 2 days a week this summer where I work and she should make close to 8.00 per hour so I will make sure she saves up!! good luck!

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