Teaching My Son About Auto Insurance
I’ve spent this last week teaching my son about car insurance – we made a deal that if he did half the research with me, I’d pay half the cost. It is so much more complicated than I remember! We’ve been trying to find out who has the cheapest auto insurance, but there are just so many factors to consider. Rather than looking for who has the cheapest overall, we’ve decided to look for the cheapest that doesn’t require a deposit – that way, neither of us are out of pocket at the start. It does mean that the monthly payments are a little bit higher, but we can still find the cheapest of those options.
One thing I’m insisting on – which is, in part, why I’ve offered to pay half – is that he doesn’t go for third party only coverage. It may be the cheaper option, but I’d much rather he was covered for everything so that I can worry less. Again, this raises the price a little, but I definitely think it’s worth it. I trust him to be sensible on the road, but I don’t trust other drivers. I think he was a bit offended when I first mentioned this, but after I explained it wasn’t a problem with him, it was a problem with others on the road, he seemed fine with it.
So I guess what we we’re actually looking for was who does the cheapest auto insurance that doesn’t require a deposit and has comprehensive coverage. A good starting point, right? There are still so many options! And all with slight variations between them. Some with higher deductibles and lower payments, some the other way round. Then there’s all the new customer deals too. We’ve actually been considering changing my policy at the same time and setting up a family one – which further complicates things! He’s done wonders with helping me research though. He doesn’t know much about insurance so I’ve had to explain a lot of that to him, but he does know a lot about the internet, so he’s been helping make our search more efficient ( He found a great website) . We’re a pretty good team, all things considered. That said, I’ll be glad when we’ve made a decision because it’s so much more complicated than I expected it to be!