Before we had kids, there was the requisite discussion of, ""How will we be able to afford them?"
I'm sure the conclusion was something along the lines of, "Blah, blah, blah...let's go shopping and out to eat."
When we had 2 kids close-ish together, there was the requisite discussion of, "How will we afford them, we''l have two in college at once!"
I'm sure the conclusion was something along the lines of, "Mmph shmrr glurrrb we CAN"T BE OUT OF COFFEE!"
I have no idea, we had 2 little kids.
Forward through the next 15 years (really?) and here we are.
For the most part, we've learned that you never feel like you can afford kids, you just sort of fork the money over for various things, and life just happens.
We must have been millionaires before they came along, we just didn't know it.
As far as college goes, I've just kind of pretended I can't hear you lalalalalalalala. My oldest is 15, so we have yet to do that. I always imagined we'd figure something out, because people a lot worse off than we are have sent kids to college.
But, y'all?
You never told me about this car insurance for teenagers thing.
Oh, sure I've heard people with older kids bemoan it over the years, but I've never really paid attention since my kids were going to be 8 forever.
Now? I have about 6 months left to deal.
Busy Girl will be driving in September, so I casually called the auto insurance people to get an idea of what the discount would be if she took driver's ed.
My stress agenda related to this matter had always centered around, "How in the world are we going to be able to get another car?"
Now, I've totally had to alter my stress plan.
The nice lady on the other end of the phone cheerfully told me about the whole $30 I'd save if Busy Girl took a $400 class.
That would be $30 off the additional FOUR MORE DIGITS dollars a year when she gets a license.
Oh? And, double that if we get another car. A beater car.
"You better be glad she's not a boy." I can hear all of you who've been here before me sagely saying.
You're forgetting: WE HAVE A BOY. And? He's right behind her.
He''ll get his license when she's a senior and on her way to college.
How do people do this?
Yes, I know, kids work and pay their own insurance.
That's not really an option for her anytime soon because of volleyball, though.
Anyway, it's the principle of the matter, that is just a lot of money to be piled on an already expensive time.
We need to stop giving little babies savings bonds when they're born, and start giving them car insurance.
Car insurance for teens needs to come with a health insurance policy for parents. Limit it to cardiac coverage if you must.
After the nice lady on the phone gave me the quotes and I had confirmed that she was, indeed, talking about American dollars, she asked me if I wanted to hear about their teen banking program.
I resisted making a joke about banking my teens until they turn 21 and she went on to tell me about the minimum deposit I'd need to open an account.
I maybe not-so-cheerfully reminded her that we didn't need an account since there wouldn't be any money to put in there after I paid the insurance.
As an adult, I just pay my insurance, I usually don't actively think about it.
But, now I think I just turned into one of those people who discusses car insurance rates at a cocktail party, mostly because I will need the free drinks.
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I'm so sorry that I wasn't more clear on this. Oh Em Gee the car insurance sucks. Ours more than doubled when she was added, and has only slowly, a teeny tiny bit decreased now that she's 19, and that's with no accidents or tickets and stellar grades. I feel your pain, sister. I do recommend shopping around between now and September, though. You may not save a whole lot, but even a little can help.
As the father of boy/girl twins let me just say "Thanks for the stress."
I realllllly don't look forward to that.
All I can say is shop around and that I dread those days myself!
As a former seller of much-hated-when-paying-for-it but much-loved-after-a-wreck auto insurance, I can tell you that a quote from one company can be far different than the quote from another company.
A married couple with clean driving records can often get dirt cheap insurance, but sometime, the company they are with will really jack the rates when they add a teen to the policy. Other companies are a little more family friendly in this regard - your "good neighbor" comes to mind. So does the one that President Palmer hawks on TV. If driving records aren't so good, that perky chick might be able to offer a good solution.
Other ways to save - pay cash for an older car for the teen driver and insure for liability and uninsured motorist only. Have all your cars, your home and any other property insurance with the same company - the discounts can be massive for multi-car, multi-policy coverage.
I attended private school but was able to take driver ed at my local public school for a reasonable fee during summer school. Have you looked into that option?
Shoot me an email if you have more questions - be glad to help. I know the pain, I am paying for insurance for 2 of my kids right now. I could get ME a new car with that monthly payment!
Oh, um, I guess you didn't witness my little breakdown last month over the very same thing. And, like you, I've got another coming right behind her. I'm considering renting out her room. She can sleep in the car.
We have two close in age as well and car insurance was an expense that has never crossed my mind until now! Good luck and thanks for the heads up!
Like LissaKay, I also sell insurance. I would add:
1) Make sure you try an independent agent also that can shop it around for you to all of the different companies they represent. LissaKay was right that every company has different types of risks they like.
2) Make sure you ask for all your discounts. The drivers ed discount (my kids school offers this for free but they have to be at school at 7 am, check with yours), Good Student Discount, home/auto discount, etc.
3) Some companies like you to notify them when you have a new driver but won't charge you until they have their full blown license and not just their permit or provisional license. So you may get another 6mo to year break depending on your State laws.
4) Make sure you ask them about any special services for teens a company may have. I have one company who will give you a GPS unit that you can install in the car you teen will be driving. You can then set it to e-mail/text/call you whenever he/she goes over a certain speed limit, goes outside of a designated driving area, etc. There is an extra charge for the GPS unit, but then the company gives you a credit for having it and it ends up cancelling the extra premium out. It's pretty cool.
5) I always recommend you bring your teen with you and show her the extra costs involved in her driving and insuring her. I always hope it puts a little guilt in them and makes them more carefull and appreciative of the privelege of driving.
Feel free to e-mail me also if you have any other questions or need more advice.
Yep. I've got THREE BOYS driving at once. Three. One of them drives a 15 yo hand me down car that just happens to be one of those models that (new, I'm guessing) the teenagers soup up and race.
This one couldn't get over 70 with a team of cheetahs pulling it. But it's on the list, you see, so I have to pay the extra, extra premium.
Yes, I drink.
someone ripping you off? We have a child who drives with insurance and you know our financial status! So it IS possible! Call Geico they are cheaper. and get the good student discount too. she is one!
We just added our second son to our insurance policy last month. His brother is 19 and has been accident/ticket free for over 3 years. I inquired as to when we can expect his rates to drop, and I was told 23. But it can go down before that if he gets married/and or has a child, because in the eyes of the insurance company that makes him more mature....
As usual, we are 6 months or so ahead of you. My daughter got a car for Christmas. I paid cash, it is a used jeep. She took driver's training, good grades, multi car/house insurance with same company. I have state farm and pay by the month. My monthly payment more than doubled, but it wasn't a lot to begin with because I drive an 8 year old minivan. Because she plays soccer year round, it is rather difficult for her to get a job. She gives me half of all babysitting $$, which I put toward the insurance. Right now, she is looking for a Saturday/Sunday job. It's tough, but my schedule has eased up a little since I don;t have to drive soccer carpool anymore!!
Car insurance for my two teenagers who were close together (girl 1st, then boy) is the reason neither of them went to college. It broke me. Thank heavens I had 8 years to save up for the last one. But now after her driving two years, I am broke again. It sucks.
Wow.. I remember having this conversation with you a few years ago... I remember you talking about it when Busy Girl was about 13 or so. As an employee (staff counsel) of your insurer I think I told you about the young driver video. Anyway, I am sure you know you are with a hard to replace company, but as others have said there are some other saving factors you can get requoted. Like her GPA, and determining which car you insure with, not a car that is purchased for her, time of use, and so on.
You at least didn't just add her and then found out the shock and awe of insuring a teen. You have time if you decide to change insurance companies.
I agree with you on the savings bond issue, I think you are on to something. With all these new fangled things, like registering for honeymoons like store registrys, what about insurance registry for kids. Grandparents, God Parents, Aunts and Uncles can contribute to a registry for gifts that apply to car insurance...
I am so sorry that you are going through all this stress with the car insurance. You really must not worry though because as you say about other things the money just seems to appear from nothing :)
I was your daughter about 12 years ago and all I remember them vividly describing to me how important it is that my grades stay almost perfect.
I followed those rules but my brother apparently didn't get the same "talk" I did.
Oh, and he also ran my dad's car into the garage, bending the rail and forcing them to get a whole new garage door system.
ahhhhh, boys.
Woah that's so much to think about (and so much stress). I better plan all of those before I actually get to those stages haha!
Cheers!
I've upped my Xanax dose since my son started driving. Just saying...
That $400 driving school is mandatory, here in Jersey [passes nut bowl]
So yes, there is nothing I can add except to say I FEEL YOUR PAIN.
Just last month we finally dropped her and she got her own insurance policy (she'll be 21 in April). She's bitter. However, she's no longer in school and it was time. Plus, she found an amazing monthly rate for an independent policy.
I think we should move to a farm and buy the boys horses instead of cars.
Honestly, the only real solution here is to have another cup of coffee and stop thinking about money. That's what I do! And I'm sure after I pop out a second child, I'll be forced to think that way for my own sanity.