Reasons To Get Your Kids Off Your Auto Insurance

kids-auto-insuranceWhen your child reaches driving age and acquires a permit, he or she becomes a liability and your insurance company will require having them added to your policy. Children are considered high risk liabilities as they are inexperienced and bold. Accidents involving young drivers far outweigh accidents involving older, more experienced drivers. This means your insurance will experience a rather strong price hike. You may get somewhat of a break from this hike if your child has excellent grades in high school or college, they can qualify for the ‘good student discount’.

Some insurance companies will require that your child stay on your insurance even if they go away to college, some will allow them to be removed if the school they are attending is over a hundred miles away. Insurance companies take into consideration the fact that students do come home for holidays and such and they will then have access to the family car, your insurance company will have its own policies that you will need to investigate. If this be the case, you may want to drop your child down to an occasional driver status, this should save you some of your premium.

If your child attains his or her own insurance, you will want to report this to your insurance company, especially if the child lives outside of the household, this should allow you to remove the child from your insurance.

One Response to “Reasons To Get Your Kids Off Your Auto Insurance”

  1. […] insurance rates. No matter how you look at it, your insurance rates are bound to go up when you add your teen driver to your insurance policy. This happens because teens have less experience behind the wheel and insurance companies as well […]

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