Does it cost more to have your own insurance policy or to be added onto someone elses?
Find answers to your legal question.
Does it cost more to have your own insurance policy or to be added onto someone elses?
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i am a new driver and im 16 in ny and i am about to buy a new car but my parents cant get me insurance because its 4300 a year for my own and they have statefarm and i am telling them that of course its going to be alot for a whole new policy so just add me onto theirs but they keep saying that it will be the same amount.....it will be alot cheaper just to add me to theirs right????
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Terell R
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Jordan S, I recommend an online insurance quote. It's free and quick to do. http://www.simpleautoquotes.com/Auto-Insurance.html
Good Luck! |
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Mike
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Yes it will be cheaper for them to add you to theirs. You have to register(title) the car in their name and then list you as a primary driver on it. Ive been doing that with my mustang for the last 5 years but since i have no tickets and no accidents and am 21 now i can switch to my own policy and it will be $15 cheaper. |
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Auto Insurance Geek
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Not Always! However, most of the time it is cheaper to get added to a parent's policy. Cheaper for you that is, higher for them. No matter which way you slice it, rates will be high for any 16 year old regardless of what gender or experiences and discounts they have. It is a fact. The best thing to do is to comparison shop as many companies as possible. It is even a good idea to have your parents shop around for quotes with you on the policy. Each insurance company has a unique formula to determine rates and you never know if the current policy your parents are with raises rates for young drivers. There are no shortcuts in insurance shopping. |
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Joy S
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Landa Insurance will cost you $598 a year for full coverage. Your parents should give them a call. |
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Samantha A
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I agree with Joy.
Landa will be the cheapest. |
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David R
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I'm an expert on this, I would suggest you take a tour here http://www.insuranceidea.info/free-insurance.htm ,there are expert's tips there.
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KENNETH K
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Get to understand some basic knowledge of your confused area before taking suggestion from others is a great idea.Here http://www.AutoInsuranceFree.info/free-auto-insurance.htm is great place to get start.
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David W
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You should get the multi-car discount--usually 10-15 percent--as long as you live at home and stay on your parents' policy. However, you'll have to be a "smart" driver so as not to jeopardize your parents' coverage--if you get tickets or have an accident, the company could cancel your coverage AND theirs because of it. Rates are much higher for young drivers for a reason--as a group, they have a lot more accidents!
This wouldn't be a good time to try changing companies, because many won't take a policy with a new driver.
You mention a "new" car--if it's one you have to finance, you'll have to carry physical damage insurance, and that's the most expensive coverage you can buy. It would be far cheaper to buy a "beater" for cash until you get older; it may not be as soul-satisfying, but would be a lot more practical. Doing so could cut your rates in half or more, depending on what you're looking at buying now. |
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