This was originally published in the Lynn Haven Ledger as part of The Rebecca Series for insurance
She could still remember her sweet baby boy sitting in the middle of the living room floor surrounded by his model cars, playing with that intense concentration only little boys seem to possess when it comes to cars and trucks of all kinds.
Was Derek really sixteen years old now? Rebecca’s eyes teared up when he proudly produced his new driver’s license with his smiling face – the face of a young man – staring back at her from that little plastic card. Rebecca’s heart was in her throat every time he rolled out of the driveway – would he come back home safely?
Rebecca called her insurance agent Audrey to give her the news, and they commiserated together for a few minutes about how quickly children grow up and leave their childhood behind.
Audrey checked with all of her carriers to see who could give them the best price, then they added Derek as a rated driver on Rebecca’s auto policy, and the premium went up significantly. Big time ouch.
“I know it’s a lot of money,” Audrey said, “but we’ve been able to keep the premium from getting as bad as it could. You see, because Derek gets As and Bs at school, he’s considered a ‘good student’, so that gives him a discount. And you have a great driving record too, so that helps as well.”
Audrey continued, “we could reduce your liability coverages and remove your uninsured motorist coverage completely, but unless you absolutely can’t afford the new premium, I strongly recommend you leave these as they are.”
“If Derek has his own policy, would that be cheaper?” Rebecca asked, trying to think of any other options.
“No, it wouldn’t. He’s only 16, so you’d still be liable since he’s a minor.”
“Ok, then I’d rather keep the coverages the same. I want to keep the same protection I have now.”
When Rebecca got off the phone, Derek was standing there watching her with a determined expression. “Mom,” he announced, “I’m going to get a part time job and pay for my part of the insurance, ok? That way it won’t really cost you more.” This statement, of all things, made her cry. His dad would have been so proud of him!
“I’ll tell you what, sweetie. I’ll let you get a part time job, but your school comes first. And as long as you keep your driving record clean, I’ll cover half of the increase, ok?”
“Deal!” said Derek with a smile.
Parents of new teen drivers always want to know how to keep the costs down, and that’s a tough question. Each scenario is different, with many factors coming into play, such as how many cars are on the policy, how old the cars are and what type they are. And then of course the driving histories of each driver too.
A big advantage of an Independent insurance company is they have more carriers to choose from. Some carriers are a little easier on young drivers than others, so it’s a good idea to shop the rate to make certain you have the best price for the best coverage you can afford.
