Auto insurance and 16 year old

[911pcars]

I'd like to mine the forum for been there-done that experience, knowledge and legal craftiness. I know some of you dads have been through this and would like some advice.

What kind of stragegies do I have to minimize the auto insurance premiums for my 16 year old son? He's on a learner's permit now, soon to get a license. I'm not sure he's up for a sex-change operation at this point.

Thanks,
Sherwood

[gprsh924]

let him drive your old p-car

when i got my liscense 2.5 years ago, the it was cheaper for me to be insured on the 87 924S then it was for the 1997 pontiac mini-van

[MBAtarga]

How many many cars do you have on your policy right now - and how many drivers? If you have at least 1 car per driver (including the son), then it's likely the insurance policy will require him to be full-time on one car - $$$$.

I was able to add my live-in mother-in-law to our policy at the same time as my 16 year old daughter, allowing them each to be listed as part-time driver on vehicle number 3. The policy was $700 a year cheaper to add a 71 year old driver!

Other saving opportunities - driver's ed and/or good grades! I was fortunate to be able to apply both for my daughter.

[Amail]

Show good grades, that's the only variable at 16 they're interested in.

For your own peace of mind get him enrolled in a defensive driving course. I don't know that it will help with the insurance premiums, but it should help with his defensive driving.

Don't discount this - it can be a real benefit.

[911pcars]

"let him drive your old p-car"

I think the sex-change operation will happen before this does.. at least for now. Besides, the classic insurance policy forbids drivers <25. I'm kinda fortunate and at the same time slightly disappointed he's not a car guy yet. He hasn't yet shown a strong urge to drive the pcar or yell at Michael Schumacher on TV (as opposed to wiping out whole alien civilizations on his computer).

With my daughter away in college, it's 4 cars and 3 drivers in the household. Looks like I'll have to beat on him to keep the grades up and keep the premiums in check.

Yes, a defensive driving course is planned.

thanks all,
Sherwood

[pwd72s]

Sherwood, there you go...just show him the "no drivers under 25" clause in the policy. Don't show him the policy on the other cars....

[Porsche-O-Phile]

I'd make him get (and pay for) his own insurance if he wants to drive. Seriously.

[rouxroux]

Originally posted by Porsche-O-Phile
I'd make him get (and pay for) his own insurance if he wants to drive. Seriously.

+1! BRAVO!!! That worked for me! (And pay for the car, tires, gas, etc.)...Have a written contract...(you might even write in that a certain GPA has to be met to be able to drive)...My Dad went 1 step further: If I had an "A" average, he even gave up HIS parking slot in the garage to let me keep MY car inside. That was quite the "stick & carrot" for me, and it worked.

[Danny_Ocean]

Originally posted by Porsche-O-Phile
I'd make him get (and pay for) his own insurance if he wants to drive. Seriously.

That's what I had to do if I wanted to drive. And I worked my arse off for it. While other kids were driving mom/dad's hand-me-downs, I was driving a 70 Z28 and a 68 Vette that I purchased (and insured) with my own $$$. As I recall, my dad was pizzed because I wouldn't let HIM drive the Vette...

[Rick V]

I put my son on my old 92 Nissan Pickup. I made him pay half the insurance, all the repairs that wern't just routine maint. (tires, gas etc. came out of his pocket)
I made him sign a contract as to the treatment of my truck, and the understanding, 1 moving violation I would revoke his license until he was 18. (here in Va a parent can revoke a minors license, just need to surrender it to DMV and fill out 1 form)
He violated our agreement as to the treatment of my truck so he now pays for his own car, insurance, maint, etc.
He is also not on my insurance anymore and hasn't been for some time now. (he is 19)
Sounds hard but a lesson learned is better in the long run. I have made the same deal with me daughter who has her learners and is going to be driving my old Volvo.
Please notice the option of my kids driving my German cars wasn't given. There is no option. If they want something nice they can work for it, I help out but I won't hand out!
X2 on the defensive driving class, any advantage you can give a beginning driver the better the chances they will survive thier teenage years. It may not help your insurance but it's about more than the money.
Good luck and welcome to my world.........MMMUUUUHHHHHHAAAAHHHHAAAHHHHHHHAAAAA A!

[84porsche]

I got a hand me down from my great aunt as my first car (86 Chevy) and my first accident, my dad made me pay for it and to this day I will never forget it. The older cars help with lower rates but safety is more of a priority with an older car, make sure that the car he drives has airbags and safety features even if it the ugliest car on the road.

[David]

Register his car in another state.

Seriously, around Houston you see several old cars parked at storage buildings. I've heard the cars are junkers just there so someone can insure their teenager on it. If the family has less cars than drivers, the teenager gets insured on the newest family car.

[legion]

Make him pay his own insurance and buy his own car.

[id10t]

raise deductable... and have him start saving to pay it when needed

[stevepaa]

My kids pay for their insurance. I put 5K towards the car. But the insurance company also put them on the cheapest cars to insure, the 69 912, and then the 92 volvo.

[Tervuren]

Originally posted by Danny_Ocean
That's what I had to do if I wanted to drive. And I worked my arse off for it. While other kids were driving mom/dad's hand-me-downs, I was driving a 70 Z28 and a 68 Vette that I purchased (and insured) with my own $$$. As I recall, my dad was pizzed because I wouldn't let HIM drive the Vette...

Yup, I wanted to drive a Porsche.

I don't think dad's ever driven my '86, but he did drive the '85. I bought the '85 before I had I had a driver's liscence, so had it registered in my dad's name until I got my driver's liscence. It was cheaper for me to go on my own policy, not added to my parents. Same day, I got my driver's liscence, insurance, and "bought" my car from my dad, and registered it - all at different locations all over the state. I left at 7AM, near 300 miles later I got home.

The beauty of saving for a car as a teenager, is no expenses, you can save 100% of what you earn if you want to.

[unclebilly]

What's with this add my kid to my policy BS? I had to buy my own car and insurance. I had my first car at 14 and rebuilt the engine (with dad's help). When I turned 16, they would only let me insure my motor bike for the first year. I bought my corvette when I was 17.

I watched as my friends had multiple accidents in their parent's cars.

[GDSOB]

We lent our 16 yo half the funds to buy his 95 civic. He's paid us back over the summer. He is responsible for his own insurance ~$90/mo. He fully understands that if he wrecks it, he's walking.

[gprsh924]

To me, it doesnt matter who pays for what as long as the right emotion and fear is involved in the car. When i turned 16, i started driving my dads 87 924S. I was also responsible for half of my insurance. You dont have to be driving a car that you paid for to not wreck it. I have been involved in 0 wrecks thus far. The reason is that I know the consequences if i screw up with that car. Im paying for the repairs and walking until i save up for a car of my own. I htink there are better things that a kid can be saving his money for at this point in his life (college, a house/apartment for later, a car when they're on their own)

my parents have given me some of those things in order to put the bulk of my money into cd's and mutual funds so that hopefully when i get out of college, i can afford basic things without going into huge debt immediately

conversely, some of my friends who have spent 5K+ on their cars, have virtually no money in the bank for the future