Teenage insurance?

[Cynette]

Originally Posted by Wetzel

I don't understand this. Why would the insurance not pay me if the car is wrecked? I would certainly want them to cover the damage to my car and whatever I wrecked into, regardless of if I or the bank owns it.

Wetzel

If you have an older car with a blue book value of let's say $700 (aka my son's '95 Saab) and your insurance deductible is $500 and you total the car, all they will give you is at the most $200. That's $17/ month for a year. So if your collision part of the car insuance is greater than $17/month, and it usually is, drop the collision and put that money in the bank for the fund to replace your car when you need to. You keep the liability on the car, that protects the people part of the accident and the other car.

And to answer the original question...We have a 17 year-old with a 2005 Masda RX-8, (her choice, she earned it) she is on our insurance and its about $1100 for six months (She also has a job, and pays for half of the cost). I know she is cheaper than if she was a teenage boy, but other than that, I can't imagine having to pay much more than that. So I think the $450/month estimate is way off base. And I think NY has one of the highest rates in the country.

[GaryVoshol]

Originally Posted by mocat1530

I know she is cheaper than if she was a teenage boy ...

Maybe, maybe not. Some places have embraced gender equity in law, and insurance companies cannot charge different rates for males and females. I also suspect that the accident rates between teen girls and guys has converged.

[KenWittlief]

Originally Posted by GaryV1188

... I also suspect that the accident rates between teen girls and guys has converged.

why do you think that now, after people have been driving for approximately 100 years, that teenage boys no longer like to hot-rod and show off once they get behind the wheel?

or is there some other reason behind your suspicions?

[Cynette]

Originally Posted by KenWittlief

why do you think that now, after people have been driving for approximately 100 years, that teenage boys no longer like to hot-rod and show off once they get behind the wheel?

or is there some other reason behind your suspicions?

LOL! I think the shrinking difference between teen girl and guy rates may be because the girls have finally realized how cool it is to "hot-rod and show off once they get behind the wheel."

Originally Posted by mocat1530

I know she is cheaper than if she was a teenage boy ...

I was basing this on the disparity between my son's initial rates for driving one of the family cars, vs my daughter's rate two years later. His rate was about 30% higher.

[Jeremiah Johnson]

My sister just got her insurance yesterday. I think she might be a guy because she now pays more than I do with the same plan. She drives a '97 Hyundai Elantra. 4 door whatnot. $750 every 6 months. Mine's only about $500 every 6 months. I would check my bill but I just threw it out.

[GaryVoshol]

Originally Posted by KenWittlief

why do you think that now, after people have been driving for approximately 100 years, that teenage boys no longer like to hot-rod and show off once they get behind the wheel?

or is there some other reason behind your suspicions?

It's not that the boys are less reckless, but that the girls are more.