Is it necessary to add teenaged driver to our auto policy?

[Clover]

What is the name of your state? Iowa

We have insurance on three vehicles, one our daughter drives. The vehicles are in my (mom's) name.

The coverage on each vehicle is:
Liability: 100/300/100
Uninsured Motorist: 100/300
Underinsured Motorist: 100/300

Our insurance every six months is $1000.00, it's killing us.

Our daughter is on our policy.

My question is this. Is it necessary to have her on it? If I lent my vehicle to a neighbor, and he wrecked it, wouldn't he be covered? Wouldn't it be the same with my daughter?

Thanks,
Laurean

 

[tammy8]

First off you may want to take this and put it in the auto insurance area.

Second, you must keep your daughter on the policy. The reasoning behind this is years of insurance companies not collecting premiums for young drivers, the industry has taken a big bite in the butt. Reason being, stats show that an inexperienced driver has more accidents with much bigger payouts than expereinced drivers.

So suck it up and pay the premiums.....or have your daughter surrender her license and take her off the policy legally.

 

[Clover]

Thanks Tammy,

She is already on our insurance, and is helping to pay for her premium. Sigh..... I guess there is no alternative but to keep her on. Darn kids.....

 

[tammy8]

Dern kids is right! I have a 13yr old that will be the only person in a nursing home who has NEVER had his license!

 

[LJLaw]

Teen drivers

When our son was 16 and had a license, we had him buy his own insurance for his car.....or he wouldn't be able to have a license (here) under our rules. In this way, since he has his own,insurance, he's not on your insurance as a driver. However..should he drive your cars..poor you :-( As I understand it, just having a teen w/a license in your home, ups the Rate you'll pay..When our son left home at 22 my rates fell significantly, and we never had an incident..Jusy my 2 cents, good luck.