[Melanie]

Humor me for a minute…because this sounds bonkers to me re: car insurance. 

I know teen boys have it worse…I have two teen girls. 

I have a friend who says that her son has liability insurance (lowest limits) only on a 2004 F-150 truck, on his own policy, and it’s $500 a month. 

Now…he has had THREE fender benders. But, they were all when he was 16-17, he is 20 now. And according to her, his previous insurance never had to pay out any damage for them. There were no tickets issued, he’s never had a speeding ticket or reckless or anything like that.  I get that accidents aren’t good, but can this possibly be for real? She says she shopped around and only progressive and State Farm would even cover him.

$500 a month — for liability only on a 20 year old truck?

[David]

That sounds about right, 3 accidents before 20 is super high risk.

[Christl]

It’s cheaper to put the cars in your name on your policy and add them. Then after they turn 20 or so their own policy will be cheaper.

[Liz]

I would guess 500 for 6 mo? We have similar scenarios, 16 yr and 20 yr drivers. Priced 20yr old on own policy and it was incredibly higher so just kept him on our multiple policy. We have old vehicles. It’s ridiculously high.

[Nicole]

It’s the liability of him getting in 3 accidents. It’s not that they would have to pay for his 20 year old truck. It is if he hits someone and they have to pay out to them.

[Rebecca]

Sorry, but “have it worse” he caused 3 accidents in a year. That is a major liability issue.

I know a middle aged woman who had 3 (?)accidents in a row and her insurance was 10k/year-this was ~6 years ago.

[Shelley]

I’ve been told to never have the vehicle or insurance in their name until males reach the age of 26 due to the expense. Insure them on all your vehicles full coverage but list them as the main driver on the lowest cost vehicle. Always remind them you as the parents are liable and we also carry a separate umbrella policy of a million dollars just in case it would ever be needed.

You can always have them pay you back for what it is costing to have them on your policy.

We are with American Family, and it has never been crazy expensive, and he started driving at 16 and now almost 24.

[Brittany]

1. Normally under 25 jacks up your car insurance. Worse if your male as they are statistically more likely to have incident.
2. The insurance world right now is out of control. Companies are charging more for no reason and there is no regulation to check them.
3. This price sounds right

[Jane]

The age of the truck is of no importance with regard to liability. They’re just as easy to drive into things as a newer one.

[Greg]

Insurance agency owner here!

Insurance costs are based on dozens and dozens of factors. Just because the truck is 20 years old, doesn’t mean it’s less “risky” – driver has multiple accidents and tickets. Clearly a higher risk driver. Also 20 years old – considered youthful still!

A 20 year old truck can do just as much damage if it hits a car or a person as a brand new truck. Liability is liability. Think of it that way.

It’s definitely still higher than average. But depends on the state, town, other factors etc

[David]

Younger drivers are higher risk for accidents no matter the vehicle. Most of your insurance coverages is for damages done to another person, property or vehicle. A 20 year old truck is not really the issue it is the driver.

If that kid hit you, your insurance would be paying out assuming you have full coverage because his limits are low. So, we all are paying for his having lower insurance coverages and his statistically higher chance for a collision.

[Mike]

Sounds cheap for a young male who’s already had three accidents.

The fact that it’s a 20 year old truck makes it more expensive, not less. A newer, smaller car with more modern safety features would be at less risk of causing massive damage to other people and things.

[Carrie]

Yes, depending on your state and the fact that he’s been in 3 accidents. If he is on his own insurance without parents discounts for multiple policies… I could see it. Ohio is 1/2 the price of Michigan.

[Kyle]

I was paying $400/ month at 18 for liability. Numerous speeding tickets, zero accidents, in 2005.

[Brian]

Yes. I am a State Farm agent and I’ve seen underage drivers at $700 a month. Unfortunately, the numbers don’t lie.

[ScottandAnna]

We’re in MN.

My son & daughter share a 2010 Mercury Milan & Liability is 65.00 a month.

(She’s 18, he’s 17) Good driving records and good grades discount.

They will stay under our policy as long as they have a good driving record.

[Anna-Karin]

Totally depends on where she lives as well. Yes, teenage drivers cost a lot to insure.

We moved from Louisiana to NC. Louisiana is like the second most expensive state for car insurance or at least was then (4 years ago), Michigan was the only one that was higher. We had three cars insured and one 19 year old son driving at the time.

We moved to NC and our then 17 year old got his drivers license and we added him to be able to drive my car. Even with adding one more male teen driver. Just by moving to NC, same cars that was insured in Louisiana under same kind of coverage.

We then saved $6500 a year as insurance for our cars was so much more affordable in NC compared to LA.

So, you need to factor in also what state do they live in.

[Lauren]

Likely better to add him to her policy than have him on his own. But otherwise this seems normal. He’s proved to be a young, high risk driver. Their anticipating him having another accident that they have to pay for.

[Author]

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