The key is to find insurance company who only surcharge young driver to the car he/she assigned to, instead of increasing it for the whole cars the family owned. We were in safeco, it was the lowest before our son got his license. Safeco increased our 3 cars premium instead of the only one he drives. Statefarm while it’s not the cheapest for the other cars, it only increases the one my son assigned to which make it cheaper for the whole cost. Tried all other insurance company (geico, progressive, travellers) all same issue.
Throw the kids on their own insurance and not your own no matter the cost. While you’re at it, title the car in the kids name too.
Thanks, interesting article. Is there a trick to look at these beyond the paywall or is that a feature for the subscribers to be able to share them?
Here you go:
In CA that means they can’t drive your cars as your insurance company would specifically ask you to exclude them. So they can drive one car and that’s the only car they are insured on
Subscribers can give away 10 articles a month
I don’t know what the dollar amount would be but at some point I’m going to Costco, buying a few thousand dollars of 20% off Uber gift cards and telling my kid to use Uber to get around.
If insurance is $600 a month, lease payment $300 and gas another $100, my kid is really gonna need to want a car for that to be a palatable option.
25% for the next week, limit 2
Just be aware that there are reports Uber charges more if you have credits on your account…so just add a little at a time.
https://viewfromthewing.com/uber-caught-overcharging-how-having-credits-in-your-account-might-be-costing-you/
Should be getting new roof in Texas everytime it hails in texas, act of god they call it.
Sounds very California. I wouldn’t let my kids anywhere near my cars personally. Protecting what I’ve worked hard for is much more important.
Interesting. I almost exclusively use them for Uber Eats, and usually pickup, which would be a harder for them to mess with pricing since I know exactly what my wife’s order should cost at all her preferred restaurants. But next time I have a credit on my account and call an Uber I will definitely compare it to Lyft/a different Uber account.
Most of the policies have raised the deductible on the roof to a higher % of value - which basically makes the homeowner pay for it almost fully out of pocket. Years of abuse by the guys who hunt for roof jobs after minor hail storms screws the rest of us.
Tried to get quotes to switch carriers this year and 3 of 4 would not even quote due to a) roof 11 years old, b) tree limbs to close to house on aerial mapping and c) not adding any new customers in Harris County.
Texas is about 5-6 years behind Florida in terms of crazy insurance costs - and that doesn’t include new FEMA maps coming out next year
True about the deductibles being higher, but even with 2% deductibles, it’ll likely fully cover the price of the roof. It is illegal for companies to do this, but there are plenty of roof companies out there that will just not collect the deductible and do the roof for no out of pocket cost for the consumer and still make a good amount more than traditional out of pocket pay jobs. Previous owner of a rental I have did a roof claim and insurance deemed roof replacement to cost $23k in 2019. I have an identical house in the neighborhood and paid $9k in 2021 (when material/labor skyrocketed). Even with 2% deductibles on a $400k dwelling, insurance is paying out $15k vs $9k customer pay cost. It isn’t until 5% deductibles where the roof isnt’ really covered anymore.
I had the same experience with my 12 year old house – Insurance companies don’t want to touch it. Austin does seem to be a bit better than DFW and Houston – I have a rental there with a 25+ year old roof and I’m able to get insurance on it (granted with ACV coverage on the roof rather than full replacement)
Got a 3% reduction with Geico in NYC. Go figure
I just got my renewal for December for 6 mo premiums with Connect/COSTCO in SoCal $1574.61 went up from $1312 when I added the Ioniq in October… it was $974 without the Ioniq 5
'22 Tesla Y LR 7500 miles/year with 100/300/100 $250/$500 deductibles
'23 Toyota Mirai 3000 miles/year same coverages/deductibles
'24 Hyundai ioniq 5 SEL 3000 miles/year same coverages/deductibles
I called today and bumped all to $1000 deductibles and got down to $1448 (not much but savings is savings-haven’t had a claim, ever, except for a one time windshield replacement)
I still have a much cheaper premium compared to other quotes, so keeping it the way it is for now
NYC 2025 NX450h full coverage w/$500 ded.
$1,943. Clean record.
Minimums for auto going up in CA on 1/1/25 for the 1st time in 56 years. Will likely lead to more increases across the board based upon recent history.
I guess some people work harder for their cars than for their kids
And then they wonder why the cars look nicer than the kids!