I have a question.. please help me?

Question

I'm 17 yrs old and recently got my provisional license in NJ about 2 months ago.

My parents have been insured at High Point Insurnce Company for the past 5 yrs and they have no accident record.

However, the insurance rate will skyrocket if they add me on to their list of drivers.

Can I get my own insurance coverage at GIECO insurance agency at a lower rate and still use my parents' cars?

Or would I pay lower initial amount by adding onto my parents insurance coverage (Full coverage)?

Please help me

Thanks

Answer 1

The total cost will definitely be lower if you are on your parents' policy. And unless you're getting your own car there's no need for you to buy insurance yourself. The best rate will be if you are listed as an occasional driver on their cars and you do NOT have one of your own.

Answer 2

Your parents have to add you on their insurance anyway. Insurance companies do checks at renewal time. You'd still be covered for now on your parents insurance, however if you have an accident or a ticket is when the insurance company is sure to find out. Pretty much, no matter what you do, your parents will end up having an increase in insurance rates.

Answer 3

not sure how NJ is but for the state i live in its way different!!
our insurance agent told us to get 2 old beater cars and put liability insurance on them only under our policy for our 15 year old daughter and 14 year old son and put them as the primary drivers for those cars only.....they would then be covered to drive all of the cars on our plan as occasional drivers ...lot cheaper that way
have your parents talk with their insurance agent and find different ways they could insure you at a cheaper rate...it will still raise their rates some but not as much as "skyrocket"

Answer 4

Try some comparitive shopping. Go to several insurance companies tell them your situation and ask them what they have to offer. Then sit down with your parents and decide which plan would be the best for all of you.