First of all a big Hello to everyone. I was shocked when I found that OD was open for business again.

I have now reached a milestone of sorts with my 17 year old getting her driver's license yesterday. I also got the sticker shock from State Farm's quote on what it would do to my premiums. I am in NJ and find that I do not have as good a grasp on the issues as I should.


-register in her own name - heard pros and cons, State Farm told me I was liable anyway until she is of legal age (???)

-liabilities - bodily injury and damage. what's a sensible amount for each?

I have gotten a good rate from Geico taking the minimums on the coverages, but that's not a good gauge.

TIA and good to be back...

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joE
1993 300e-2.8 - gone now <sigh>
"Do not adjust your mind, it's reality that's malfunctioning"
http://banners.wunderground.com/bann...L/Key_West.gif

Look to see if they have exclusive coverage policies, where you can decide who is and is not insured on the car. My folks have one, and get awesome rates. However, they live in Colorado, so this may not be an option.

As to the daughter, make her pay her own insurance, buy her own car, pay her own fuel, and her own maintenance. When they get the sticker shock of the cost of ownership, they will be FAR less likely to trash the car due to not expecting mommie and daddie to buy her a new one.

First thing to do when teens get a drivers license . . call your homeowners insurance agent and get a Personal Umbrella Policy (PUP) with the $1M coverage.

state farm will allow her to be on the one car (which i did buy for her). she probably earns $1k a year in summer jobs...

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joE
1993 300e-2.8 - gone now <sigh>
"Do not adjust your mind, it's reality that's malfunctioning"
http://banners.wunderground.com/bann...L/Key_West.gif

i was just talking to someone about a PUP. i guess i have to take a hard look at it. the related question then is - should i adjust the liability coverages for all my cars and specifically in her car?

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joE
1993 300e-2.8 - gone now <sigh>
"Do not adjust your mind, it's reality that's malfunctioning"
http://banners.wunderground.com/bann...L/Key_West.gif

While your daughter is 1)still a minor; and 2) still in your household as a permissive driver of one of your cars, a PUP will likely be a cheaper form of liability coverage. At age 18, the BI (bodily injury) coverage on the car she drives should be reviewed since the PUP won't cover her.

If you have been with GEICO for a while they will most likely work with you.
#1 Defensive Driving Certificate - make sure they have it
#2 Grades are very important- good grades = good rate
#3 I had my teen get a sub policy of mine. I still pay the Premiums but it will appear later in insurance index as if they had their own policy.
#4 If you have multiple cars - try to get a written exclusion that XYZ child will not drive the 05 SL55 - this saves $$'s

The legal age varies from state to state - I think the legal age in Mississippi is 14 but that's not insurance related

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BENZ THERE DONE THAThttp://www.peachparts.com/shopforum/...c/progress.gif
15 VW Passat TDI
00 E420
98 E300 DT
97 E420 Donor Car - NEED PARTS? PM ME!
97 S500
97 E300D
86 Holden Jackaroo Turbo D
86 300SDL
(o\|/o)

The umbrella policy will dictate what liability coverages you must carry.

For a typical $1M policy, I believe that you will have to carry $250K in liability on each vehicle.

When I got my driver's license, my parents didn't get an insurance policy for me.

They got one *on* me.

This was in the 1970's, and insurance wasn't mandatory in Wisconsin. I had a fast motorcycle and had been in and out of various trouble (typically alcohol related).

Years later, my parents admitted that they didn't think I'd survive those years, and that they at least wanted to get some money to put my sister (aka, the "good" kid) through college. Since I was probably going to die anyway...

I ended up joining the USMC, going to college, getting an engineering degree, getting married, and generally turning out OK.

- Patrick

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1982 240D. 198k, Marine Blue/Blue, 4 Speed, Crank Windows, No Sunroof, No Rust, No Oil Leaks
2001 TDI. 197k, Lagoon Blue/Black, 5 speed, Chip, G60/VR6

When I turned 16, we had 3 cars. By default, I was made primary driver on one of them. State Farm was ripping us a new one, so we switched to Ohio Casualty. Also, we got a car $1500 car, that way I could be primary driver on it, and we only needed to get liability. It saved a considerable amount of money. Also, honor role discount.