Three kid drivers between 19-24 just absolutely killing me. Five drivers total and 5 cars currently running me roughly 8 grand a year .

After sticking with Farm Bureau for 20 years, the last 3-4 years or so I find myself price shopping every renewal. Currently with Progressive; I opted for the stupid Snapshot despite railing against them for years because it did initially save me a couple grand. But I won't be continuing with it or any similar feature from a competitor as it's a terrible fit long-term for college aged kids with lots of daily trips, even if they don't speed or drive at 4am, etc.

This go-round I've looked at Insurify, Goosehead, and Lending Tree brokers as well as directly from all the main guys (Progressive, Liberty, Geico, Allstate, AAA, USAA, etc, etc). I'm open to bundling Home if it makes sense...

So, anyone else I should look at? Tips? Comments? Suggestions other than kick all the kiddos off (soon for oldest...)? We have mid-tier coverages and high deductibles. Very hesitant to drop coverage limits much further.

I feel ya. 4 drivers (2 teen girls) and 4 cars. Over $9k with Progressive.

No accidents. But big hail damage and I hit debris on the highway in a German sedan, so a couple of expensive comprehensive claims.

It sucks. I have Liere shop me every year.

1 college daughter left. She has one minor at fault accident in a parking lot. We are around 6k per year at State Farm for 3 cars.

Did some research into putting her on her own policy since she is pretty much permanently living at college now. It was pretty much a wash, her cost was about the same but ours went down some. Gave in to doing the safe drive thing, but honestly the discount isn't worth it to me - not even close to the 10% advertised and no one drives that poorly.

Don't think there is a winning answer here. Love to hear if I am wrong.

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Currently with Progressive; I opted for the stupid Snapshot despite railing against them for years because it did initially save me a couple grand. But I won't be continuing with it or any similar feature from a competitor as it's a terrible fit long-term for college aged kids with lots of daily trips, even if they don't speed or drive at 4am, etc.

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That thing is ridiculous. We had it very briefly in my son's car, for the discount...but it would beep and throw warnings for normal driving. Stop at a stop sign normally, accelerate onto the highway, etc etc etc. I'd drive it, and it'd would score me terribly, hurting our rate. I took it out very quickly.

You might consider splitting up the policies. Have one for you with the kids on it, and maybe you and the wife on the other. You can exclude the other drivers on each policy...but make sure no one borrows the other person's vehicle (if they're not on the policy), or you're on the hook.

We had to do that when my son had a couple accidents, because our rates were ridiculous with him being considered for all our vehicles, instead of just his. Once I split him and his brother up, and had individual policies for just them, we were able to get some decent cost savings.

agnerd said:

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Just to summarize what others have said:

1. Put all the kids in used corollas if they aren't already
2. Liability only
3. If junior gets in a wreck, he pays the deductible and increase in insurance or he's getting a huffy.
4. Any kids older than 18 pay for their insurance costs
5. any kids older than 22 need their own policy

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In my experience, Kind of.

I never found a huge discount for just liability coverage. It was explained to me that the companies know they are most likely to cost money as the at fault party. Having full coverage on a decent paid off car was only nominally more expensive in the big scheme of things.

Also found that they are finicky about the "their own policy" idea. If they have any kind of easy access to your vehicles, insurance companies basically accuse you of lying and may not allow the separation, even if you are honestly going to adhere to it. I did not have luck with it until they were at a point that they were truly living the majority of time out of my house, ie far enough along at college and/or with jobs and such so that they pretty much lived full time in the college town not my house.

The rest? I mean, ideally we are all so financially astute and strict that we have prepared our kids to properly handle their finances to buy a car at 16 and pay all the expenses (like I had to at 16.) In real life, with inflation and such, I will admit we were not quite that strict in all those categories.

Your price per person/kid is actually pretty good - 5 people and $8k. I was paying over $3800 for just two of us. That's with no accidents or tickets.

My son turned 21at the end of last year, and his share did go down this last renewal. I'm now looking at around $3400 for this year. This is in Harris County.

He's graduating from college in August, and my dream is for him to get a job and pay his own premium when it renews in October. I'm ok paying for now. I can afford it, and my parents did the same for me.

You all are lucky. I have 5 drivers (3 boys 21, 19, 17) w one totaled vehicle and couple of fender benders. Mine is $18K/year with progressive. Only one new vehicle (Silverado) - rest are 5-15 yrs old. And my youngest son is about to turn 15 next month.

wow. At some point it may be worth seeing how much it would be to just have them uber everywhere.

that would only work though if they don't have their drivers license yet. Otherwise, maybe there should be a revoke for insurance reasons option

They drive a 15 yr old F150 he paid for cash himself, and 13 yr old CR-V, and a 7 yr old CR-V... and they contribute to their insurance, pay all their own gas and maintenance, etc.

Whether they pay their own or not, I am looking ways for us to collectively save money, rather than just tell my kids "good luck" .

Jbob04 said:

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I would have the 24 year old paying their own way

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X2

1agswitchin4lanes said:

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Jbob04 said:

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I would have the 24 year old paying their own way

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X2

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Not an option. Thanks though.