Just added a 16yd old male and Ford PU to a Liberty Mutual policy and the premium skyrocketed from $2600/year to $6800/yr. Client called Geico and the rate, for same coverage, was $3300. Seems to be a common occurrence on teen drivers.
Have your client check back in a year or so to tell you what GEICO’s premiums are after a ticket or accident. Don’t really know what the answer will be, just curious.
One could get the impression that Liberty Mutual doesn’t like young drivers. By the way, how did you get an appointment with Liberty Mutual? In our area, they only write direct and we have to use their owned company Safeco on the agency side.
Why is this a news story? Hasn’t it been known since the first time a teenage driver was added to a policy that it is expensive? On the positive side, two of my young driving sons are on their own starting this month, so I’m buying at my club this weekend. Who wants to join me? I’m calling it the Liberation from Youthful Drivers Blowout Bash, or the LYDBB.
Yes Cl, I jumped for joy when my two daughters were finally out on their own, supporting themselves and buying their own cars and insurance. What a drop in premiums that generated.
I still have customers that think it is a great idea to put a young son in a brand new Camaro or some other sporty car and then they jump up and down on the premiums charged. I don’t care if there are some discounts for Drivers Ed, it is still outrageously high and God forbid if they start having tickets and accidents.
I did not allow my son or daughter to be licensed until they were 18. We did a full two years of driver training. I agreed to any discussion/argument for earlier licensing provided that it was accompanied by statistics backing up their claim that they would be safer drivers at 16 or 17. Of course, I knew those statistics did not exist. The maturity difference between 16 and 18 is huge and isn’t that really what safe driving is all about? Making the mature choice to not speed, or be distracted?
Just added a 16yd old male and Ford PU to a Liberty Mutual policy and the premium skyrocketed from $2600/year to $6800/yr. Client called Geico and the rate, for same coverage, was $3300. Seems to be a common occurrence on teen drivers.
Have your client check back in a year or so to tell you what GEICO’s premiums are after a ticket or accident. Don’t really know what the answer will be, just curious.
One could get the impression that Liberty Mutual doesn’t like young drivers. By the way, how did you get an appointment with Liberty Mutual? In our area, they only write direct and we have to use their owned company Safeco on the agency side.
Why is this a news story? Hasn’t it been known since the first time a teenage driver was added to a policy that it is expensive? On the positive side, two of my young driving sons are on their own starting this month, so I’m buying at my club this weekend. Who wants to join me? I’m calling it the Liberation from Youthful Drivers Blowout Bash, or the LYDBB.
Yes Cl, I jumped for joy when my two daughters were finally out on their own, supporting themselves and buying their own cars and insurance. What a drop in premiums that generated.
I still have customers that think it is a great idea to put a young son in a brand new Camaro or some other sporty car and then they jump up and down on the premiums charged. I don’t care if there are some discounts for Drivers Ed, it is still outrageously high and God forbid if they start having tickets and accidents.
I did not allow my son or daughter to be licensed until they were 18. We did a full two years of driver training. I agreed to any discussion/argument for earlier licensing provided that it was accompanied by statistics backing up their claim that they would be safer drivers at 16 or 17. Of course, I knew those statistics did not exist. The maturity difference between 16 and 18 is huge and isn’t that really what safe driving is all about? Making the mature choice to not speed, or be distracted?