Insuring your collegiate driver?

krak,
If you get a very much used "new car", you can insure it for less or practically nothing (collision), only liability, not sure of the auto laws in CA.

Krak,
I have my son insured with GEICO and very reasonable. If he has a 3.0 GPA there are students discounts. You can save anywhere from 10 to 20%. It does require you to submit a copy of his transcript.
Rates in No. California depend on where he lives. They are higher in the Bay Area and less in the out laying areas. The closer you get to "big cities" the more expensive.
Don't know where he is going to school, but he should enjoy No. California, we have a lot of good friendly people here and when you come out to see him, you can make a trip up to the wine country, great place to visit.

Some companies will give your under 25 driver a discount for taking a on-line driver saftey class.

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I think you could get this Lil' Red Party Car fairly cheap Krak. Those Russians are always looking for Western hard currency. It has low kilometres and is well maintained. And hey...vodka doesn't leave a stain! It is used to take officials and dignitaries from one side of Red Square to the other. And sometimes back again.

Boris drove it hard, but Vladimir only uses it for tough looking photo ops. Dmitry has babied it. I think he's scared to use it...afraid he might put a ding in it and then have Vladimir take him out. I can understand his fear.







Considering the car's history, try Progressive©...I'm sure they'd be happy to insure it.




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Krak:

I have a guy out in Half Moon Bay that buys and then rehabs fleet vehicles. I have purchase two Jeeps from him; good cars, for the most part cheap (3K-4K).

In my book these are perfect college kid cars, reliable, cheap and not likely to be stolen.

Are you a USAA member? They have awesome rates.
GED10DaD

I will second TPM's comment about insuring lower priced cars for liability coverage only. With two sons, we have always made sure we had two older vehicles which were paid off (otherwise if you have a loan on a car, you are required to carry full/comprehensive coverage). Liability-only is much cheaper than full coverage, especially for a male driver in his early 20s.

Julie

Krak,

I've been in the business for over twenty-three years, PM me if you have any questions. But two factors brought up thus far are most important for youthful (under 25) drivers, especially here in California. #1 As Tooldforthis noted, a 3.0 plus GPA usually generates a 20-25% (12 units or more). #2 As TPM suggested, if possible, try and purchase the best vehicle you can (if paying cash) without the need for physical damage (comp & coll). It varies from a person's comfortability standpoint, but I usually suggest going with Liability Only on vehicles worth less than $4500 if you don't mind taking on the added risk?

Are you still going to be living overseas? If not, and you've moved back to the states, then most companies will allow your son to utilize his U.S. family home address, and he can take advantage of the multiple discounts with his parents.

There are many choices, GEICO is a good company. Someone suggested USSSA, they're very good, especially for officers in the military. Mercury is decent for young drivers. Honestly, I work for a major company that's competitive for young drivers in the household WITH his/her parents. If it was me, I'd have my son contact a dozen companies for quotes and have him send you the numbers. Best of luck, and don't hesitate to send me a note with questions.

P.S. VERY IMPORTANT...When you purchase the car, make sure that it's in HIS name only if possible. If it's in your name, make sure that your son is adequately protected with HIGHER Liability Limits, as you can be considered liable in the event of an accident. Your agent/company should explain this to you.

quote:

Originally posted by bsbl247:
Krak,


P.S. VERY IMPORTANT...When you purchase the car, make sure that it's in HIS name only if possible. If it's in your name, make sure that your son is adequately protected with HIGHER Liability Limits, as you can be considered liable in the event of an accident. Your agent/company should explain this to you.

Hey bsbl1247

regarding above: I asked about putting a car in my 21 year old daughters name for just the reasons you mentioned but was advised (Allsate) to wait a year so she has at least one year of policy/experience as a driver or she would end up with much higher rates in the assigned rates pool. We did get the good student discount and will also have her complete the on line driving course which reduces rates for 3 years about 10% a year. We kept the car registered under our name with a higher liability and an umbrella policy. Our son is away at school and does not have a car so for him we have a rsident student rate which is much cheaper than a normal rate for an 18 year old male driver.

BTW- I didn't realize that I could also get a discount every three years also by taking the online course and I just completed it online last week! It was fairly interesting and only cost 35 dollars and my time!

K Complex,

Your Allstate agent did a great job and protected you well with the umbrella coverage. It's good to see that you accepted the advice, and took on the added coverage. In your case, I'd keep my daughter in your household. She's receiving a multi-policy discount, which helps her. You can still put the car in her name and it will soften any liability exposure for your family. I don't know what the insurance rules/laws are in Long Island/NY. New York previously was a No Fault State, I'm not sure if they still are? I'm sure one of our attorney's on this site would know that answer. In California, a driver must have three years driving experience to obtain a Good Driver Discount (usually age 19). The Magic age with most insurance companies is 25, or nine years driving experience for preferred rates.

I have a 17 year old son, and 16 year old daughter driving right now, so I'm just now learning what you've been going through...it's expensive!

I think about all I'll be able to afford for him is $2000. If it gets him a few miles up and down El Camino Real once or twice a week, this should be sufficient. He would like a Jeep Wrangler, but not sure I could find one at that price. He'll need it more often next summer when doing summer ball and internship.

quote:

Originally posted by Krakatoa:
I think about all I'll be able to afford for him is $2000. If it gets him a few miles up and down El Camino Real once or twice a week, this should be sufficient. He would like a Jeep Wrangler, but not sure I could find one at that price. He'll need it more often next summer when doing summer ball and internship.

That's a good vehicle for a young college student, and Liability Only is definitely sufficient. Have him choose his liability coverage based on his own exposure, which shouldn't be too much as a 21 year old college student? Take Care!

The transferring of the auto Ins was pretty much a rite of passage for the boy.

As advised by our agent, the car and Ins. policy are now in his name. 100% liabilty the boy, 0% liability Dswann.

With a good student discount, as well as the expected mileage for the year reduced from 15k -20K to 8k -10k per year (he lives on campus)while still maintaining high levels of liability coverage the price of the policy went down 15%.

The agent also provided a DUI scenario. Same policy with a DUI. After the initial fines and court costs of $10,000.00 + and the mandatory suspension of your license for a year, along with the DUI conviction stigma on your record for the next 10 years. The exact same policy, $5000.00 a year for the next 10 years until the conviction is off your record.

We expressed to the boy, we will gladly pick up the insurance tab as long as he keeps his nose/driving record clean. any moving violations or increases in insurance will be on his dime.

liability for Dswann - 0%
Agent explaining the crushing financial toll that a DUI takes - Priceless