Full Coverage

Why is full coverage insurance so expensive for a 22 year old?

My boyfriend is looking for a new insurance agent agent but so far everyone who is has contacted is super expensive. He has a pretty new car with a starter/alarm/sub systems etc. so he needs full coverage. His parents won’t let him get under their insurance for the time being so he’s having a hard time finding a reasonable rate. My parents are considering letting him get under their insurance..is that a good idea?

at 22 he’s statistically a greater risk.

depends on the car as well. ie. if a 22 went out and bought a mini van, vs… a sports car. it’d different. 2 doors vs 4 etc etc.

might try going with a bigger company. a company that’ll give you a reduction after 6 mo or a year of good driving record etc.

most auto insurance goes down after 25, and then again at 30 or so. depending on driving record.

can also look for insurance with a higher deductibe (ie…you get in a wreck that’s your fault…you pay more) to get lower premiums(lower monthly payment).

if your parents trust him, and he’s a good driver. There’s not too much risk in letting him in under their coverage(if it’s allowed… being unmarried, it may not be possible without lying to them… which would bite you in the a$$ if something bad happens). And then when he’s older getting his own. but that’s a personal decision between him/you and your folks.

Also… don’t necessarily go to agents. check websites. online insurance companies etc. Do some web searches for “best online auto insurance”. Etc. work angles. Military, union, religious… see if any club/organization he’s a member of might have some company they do business/have agreements with.

as a last resort, could pay the un-insured motorist fee(if your state has that) and then just but $100 a month or something in a interest baring account in case of accident/damage etc. but you run the extreme liability risk if he causes an accident.

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