How does adding my child to my auto insurance affect my premium? Watching your child drive solo for the first time is one of those unforgettable moments. It’s a sign they’re starting to spread their wings, especially if they’re heading off to college to pursue their dreams. But before you hand over the car keys, it’s essential to understand how this new milestone will affect your auto insurance.
First, if your child is under 18, most insurance companies won’t issue a separate auto insurance policy. So, you’ll need to add them to your existing policy. While adding them can increase your premium by 50% to 100%, remember, there are ways to reduce the cost. Your policy can be flexible to accommodate these changes.
If your child is a good student with a B average or higher, many insurers offer discounts as high as 25%. This means significant savings for you. Another way to save is by having your child complete a driver’s education course.
If your child is attending college far from home and will only be using the car during summer break or holidays, you may also qualify for a discount. Additionally, you can lower your premium by increasing your deductible, which means you’ll pay more out of pocket in the event of a claim, and opting for the minimum required coverage in Florida, which may not provide as much protection as a higher level of coverage.
If you want the best auto insurance in Florida, contact Univista Insurance. They’ll provide a customized auto insurance quote for your needs and budget. Remember, it’s always a good idea to seek professional advice when making important financial decisions. How does adding my child to my auto insurance affect my premium?
Call us today for a full rating! 305-985-4126. You can also quote for free here.
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