Does my car insurance policy also cover my son when he is driving?
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Asked June 24, 2014
Auto insurance can be used to cover your offspring until they reach the age of 26, at which time they will need to buy their own policy. There are a couple of conditions that must be met to extend your car insurance to your son, and your rates will almost certainly be quite a bit higher, but the increase in cost is much lower than if a young driver purchases the policy themselves.
For many parents, car insurance is the perfect opportunity to teach young people about responsibility and paying bills. Add your son to your policy and then require him to pay for the increase you have to pay. This teaches him responsible financial habits and reduces the strain on your own budget. Since insurance companies will allow your son to work and still be on your coverage, this will help him learn responsibility without being penalized for doing things on his own.
Young drivers, those under the age of 26, are considered the riskiest drivers to insure. Insurance companies routinely charge such drivers much higher rates, often double or more what an older and more experienced driver would pay. By adding your son to your own policy, you can avoid most of those costs, but the increase in your premiums is still likely to double your rates before adding him.
To be on your insurance, your son will either have to live in your home or be enrolled in college full time. If your son moves away to college, your car insurance coverage will still work for him. Insurance companies perceive higher education as being more responsible, and allow students to remain on their parent's coverage. Once your son moves out of your home and into one of his own, he will have to pick up his own car insurance.
If your son takes a defensive driving course, most insurance companies are required by law to extend a discount for doing so, lowering the overall costs of insuring him. Another discount that could save you money on insuring your son is if he maintains a 3.0 grade average of higher. And if he graduates with a bachelor's degree or better, he will be eligible for future discounts that last him a lifetime.
Answered June 24, 2014 by Anonymous