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#1
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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
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"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
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"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
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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
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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
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"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
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"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
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"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
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"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
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<< 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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