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teenage insurance



 
 
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  #1  
Old December 8th 04, 12:35 AM
leo
external usenet poster
 
Posts: n/a
Default teenage insurance

I just set up an account for an 18 1/2yo girl, with one accident on her
record. The rate is $4500/yr. I added an older girl, the rate remains the
same. WHAT IF I add a third boy who is 17 to the account. I think the rate
is already over the top that the boy might have very little effect on the
rate. Your thought?


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  #2  
Old December 8th 04, 04:02 AM
leo
external usenet poster
 
Posts: n/a
Default

"Scott en Aztlán" > wrote in message
...
> On Tue, 07 Dec 2004 23:35:53 GMT, "leo" > wrote:
>
>>I just set up an account for an 18 1/2yo girl, with one accident on her
>>record. The rate is $4500/yr. I added an older girl, the rate remains the
>>same. WHAT IF I add a third boy who is 17 to the account. I think the rate
>>is already over the top that the boy might have very little effect on the
>>rate. Your thought?

>
> Make them buy their own vehicles and insurance. Sign a waiver and have
> them specifically excluded from your policy, and keep your car keys in
> a locked key box when you aren't using them.
>
> --
> Sloth Kills!
> http://www.geocities.com/slothkills/


Well, this is a typical answer. I am not convinced all teenagers can pay
their tuition, room & board, car and insurance all by themselves, however.
Back to the reality. I am saying, I set up a separate account, for two kids,
with one car and it costs $4500/yr. I want to add the third kid to account.


  #3  
Old December 8th 04, 04:02 AM
leo
external usenet poster
 
Posts: n/a
Default

"Scott en Aztlán" > wrote in message
...
> On Tue, 07 Dec 2004 23:35:53 GMT, "leo" > wrote:
>
>>I just set up an account for an 18 1/2yo girl, with one accident on her
>>record. The rate is $4500/yr. I added an older girl, the rate remains the
>>same. WHAT IF I add a third boy who is 17 to the account. I think the rate
>>is already over the top that the boy might have very little effect on the
>>rate. Your thought?

>
> Make them buy their own vehicles and insurance. Sign a waiver and have
> them specifically excluded from your policy, and keep your car keys in
> a locked key box when you aren't using them.
>
> --
> Sloth Kills!
> http://www.geocities.com/slothkills/


Well, this is a typical answer. I am not convinced all teenagers can pay
their tuition, room & board, car and insurance all by themselves, however.
Back to the reality. I am saying, I set up a separate account, for two kids,
with one car and it costs $4500/yr. I want to add the third kid to account.


  #4  
Old December 8th 04, 04:34 AM
Shawn Hearn
external usenet poster
 
Posts: n/a
Default

In article . net>,
"leo" > wrote:

> I just set up an account for an 18 1/2yo girl, with one accident on her
> record. The rate is $4500/yr. I added an older girl, the rate remains the
> same. WHAT IF I add a third boy who is 17 to the account. I think the rate
> is already over the top that the boy might have very little effect on the
> rate. Your thought?


Why not request a price quote from your insurance carrier or agent?
While you're at it, shop around for a lower rate.
  #5  
Old December 8th 04, 04:34 AM
Shawn Hearn
external usenet poster
 
Posts: n/a
Default

In article . net>,
"leo" > wrote:

> I just set up an account for an 18 1/2yo girl, with one accident on her
> record. The rate is $4500/yr. I added an older girl, the rate remains the
> same. WHAT IF I add a third boy who is 17 to the account. I think the rate
> is already over the top that the boy might have very little effect on the
> rate. Your thought?


Why not request a price quote from your insurance carrier or agent?
While you're at it, shop around for a lower rate.
  #6  
Old December 8th 04, 04:42 AM
Bill 2
external usenet poster
 
Posts: n/a
Default


"leo" > wrote in message
ink.net...
> I just set up an account for an 18 1/2yo girl, with one accident on her
> record. The rate is $4500/yr. I added an older girl, the rate remains the
> same. WHAT IF I add a third boy who is 17 to the account. I think the rate
> is already over the top that the boy might have very little effect on the
> rate. Your thought?



Here's what happened with our plan. Two cars, two adult primary drivers.
Child #1 (male), as a secondary driver, sent the rate through the roof.
Child #2 (female)had minimal increase (because she's female), and the third
(male) child didn't increase it too much, so really it may, or it may not go
up. Ask your insurance company.


  #7  
Old December 8th 04, 04:42 AM
Bill 2
external usenet poster
 
Posts: n/a
Default


"leo" > wrote in message
ink.net...
> I just set up an account for an 18 1/2yo girl, with one accident on her
> record. The rate is $4500/yr. I added an older girl, the rate remains the
> same. WHAT IF I add a third boy who is 17 to the account. I think the rate
> is already over the top that the boy might have very little effect on the
> rate. Your thought?



Here's what happened with our plan. Two cars, two adult primary drivers.
Child #1 (male), as a secondary driver, sent the rate through the roof.
Child #2 (female)had minimal increase (because she's female), and the third
(male) child didn't increase it too much, so really it may, or it may not go
up. Ask your insurance company.


  #8  
Old December 8th 04, 06:19 AM
Cory Dunkle
external usenet poster
 
Posts: n/a
Default

"leo" > wrote in message
nk.net...
> "Scott en Aztlán" > wrote in message
> ...
> > On Tue, 07 Dec 2004 23:35:53 GMT, "leo" > wrote:
> >
> >>I just set up an account for an 18 1/2yo girl, with one accident on her
> >>record. The rate is $4500/yr. I added an older girl, the rate remains

the
> >>same. WHAT IF I add a third boy who is 17 to the account. I think the

rate
> >>is already over the top that the boy might have very little effect on

the
> >>rate. Your thought?

> >
> > Make them buy their own vehicles and insurance. Sign a waiver and have
> > them specifically excluded from your policy, and keep your car keys in
> > a locked key box when you aren't using them.
> >
> > --
> > Sloth Kills!
> > http://www.geocities.com/slothkills/

>
> Well, this is a typical answer. I am not convinced all teenagers can pay
> their tuition, room & board, car and insurance all by themselves, however.
> Back to the reality. I am saying, I set up a separate account, for two

kids,
> with one car and it costs $4500/yr. I want to add the third kid to

account.

Sounds about right... Working at Radio Shack full time in the past I made
maybe $600-$700/mo except during the holiday season when I actually made
enough to live off of (comission). $4500/year is $375/mo. One can't afford
to live with insurance that high if one is making the money a typical
college student will make while taking classes. I made significantly more
than the $600-$700/mo at one point when I was taking 5 classes at college,
working 50+ hours/week at the Shack during the shopping season, and working
10 hours/week at school. When I didn't go to school I could work regular
hours and had a job that paid well. Well enough for em anyway.

Anyhow, I don't know why it's so high... Unless you are carrying full
coverage. My insurance in NJ (highest rates in country) works out to
something like $90/mo now, I believe a bit more than that. Somewhere in that
ballpark. It was lower a year or two ago (was maybe $75/mo), but my
insurance company raised my rates twice (on two occasions, months apart) for
no apparent reason, but following when I was hit in the side of my car while
sitting at a red light (they said it had nothing to do with that... yeah
right). Since I have only basic coverage my insurance company didn't pay a
cent or do a thing about it. When I drove my old Prelude it was about
$135/mo. That offset the fuel savings from driving a sub-compact econo-box,
and sure as heck didn't make it worth it to cram my 6'3.5" self into that
tin can of a car. My Olds Calais Supreme was in the neighborhood of $115/mo.
A little more reasonable for an econo-box but still high for a beater. The
Olds didn't get as good mileage as the Prelude, so again the insurance cost
was offset by that but at least the Olds was pretty comfortable.

What I don't get, is for only basic coverage why a sub-compact car and a
compact car cost more to insure than a full-size two-ton car with no safety
features except a full frame to totally destroy anything I hit at any speed.
The only case where my insurance company has to pay anything is if I hit
somone and am at fault. What's gonna do more damage? A two ton full-size
Ford or a sub-compact 1 ton (if that) sub-compact made of thin metal and
plastic, made to crumple? I don't get it, but that's the bassackwards
insurance we have.

What makes sense to me is when only carrying basic coverage to insure the
driver, not the car. A person can only drive one car at a time. Only when a
car is insured for it's value does it make sense to have a policy on the
car. In which case the basic coverage should be on drivers and any
comprehensive coverage should be on a car-to-car basis and should be a
policy of the car, insuring it to the desired value. Far be it from me to
make any sense though...

Cory


  #9  
Old December 8th 04, 06:19 AM
Cory Dunkle
external usenet poster
 
Posts: n/a
Default

"leo" > wrote in message
nk.net...
> "Scott en Aztlán" > wrote in message
> ...
> > On Tue, 07 Dec 2004 23:35:53 GMT, "leo" > wrote:
> >
> >>I just set up an account for an 18 1/2yo girl, with one accident on her
> >>record. The rate is $4500/yr. I added an older girl, the rate remains

the
> >>same. WHAT IF I add a third boy who is 17 to the account. I think the

rate
> >>is already over the top that the boy might have very little effect on

the
> >>rate. Your thought?

> >
> > Make them buy their own vehicles and insurance. Sign a waiver and have
> > them specifically excluded from your policy, and keep your car keys in
> > a locked key box when you aren't using them.
> >
> > --
> > Sloth Kills!
> > http://www.geocities.com/slothkills/

>
> Well, this is a typical answer. I am not convinced all teenagers can pay
> their tuition, room & board, car and insurance all by themselves, however.
> Back to the reality. I am saying, I set up a separate account, for two

kids,
> with one car and it costs $4500/yr. I want to add the third kid to

account.

Sounds about right... Working at Radio Shack full time in the past I made
maybe $600-$700/mo except during the holiday season when I actually made
enough to live off of (comission). $4500/year is $375/mo. One can't afford
to live with insurance that high if one is making the money a typical
college student will make while taking classes. I made significantly more
than the $600-$700/mo at one point when I was taking 5 classes at college,
working 50+ hours/week at the Shack during the shopping season, and working
10 hours/week at school. When I didn't go to school I could work regular
hours and had a job that paid well. Well enough for em anyway.

Anyhow, I don't know why it's so high... Unless you are carrying full
coverage. My insurance in NJ (highest rates in country) works out to
something like $90/mo now, I believe a bit more than that. Somewhere in that
ballpark. It was lower a year or two ago (was maybe $75/mo), but my
insurance company raised my rates twice (on two occasions, months apart) for
no apparent reason, but following when I was hit in the side of my car while
sitting at a red light (they said it had nothing to do with that... yeah
right). Since I have only basic coverage my insurance company didn't pay a
cent or do a thing about it. When I drove my old Prelude it was about
$135/mo. That offset the fuel savings from driving a sub-compact econo-box,
and sure as heck didn't make it worth it to cram my 6'3.5" self into that
tin can of a car. My Olds Calais Supreme was in the neighborhood of $115/mo.
A little more reasonable for an econo-box but still high for a beater. The
Olds didn't get as good mileage as the Prelude, so again the insurance cost
was offset by that but at least the Olds was pretty comfortable.

What I don't get, is for only basic coverage why a sub-compact car and a
compact car cost more to insure than a full-size two-ton car with no safety
features except a full frame to totally destroy anything I hit at any speed.
The only case where my insurance company has to pay anything is if I hit
somone and am at fault. What's gonna do more damage? A two ton full-size
Ford or a sub-compact 1 ton (if that) sub-compact made of thin metal and
plastic, made to crumple? I don't get it, but that's the bassackwards
insurance we have.

What makes sense to me is when only carrying basic coverage to insure the
driver, not the car. A person can only drive one car at a time. Only when a
car is insured for it's value does it make sense to have a policy on the
car. In which case the basic coverage should be on drivers and any
comprehensive coverage should be on a car-to-car basis and should be a
policy of the car, insuring it to the desired value. Far be it from me to
make any sense though...

Cory


  #10  
Old December 8th 04, 07:22 AM
Laura Bush murdered her boy friend
external usenet poster
 
Posts: n/a
Default

<< just set up an account for an 18 1/2yo girl, with one accident on
her
record. The rate is $4500/yr. >>>

If that's liability, it's outrageous. But if it's mostly collison
coverage cause the girl is driving a $70,000 SUV, then what does she
expect? Have her drive a beater.

 




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