I'm a first time buyer and I am in need for some tips like who might have the better rates and such. Also just curious, if I buy my own insurance, would I be instantly removed from my parents' policy?
I guess I wasn't specific. I am fully aware that car insurance follows the car, not the people. And yes, I do have a car in mind. I was just curious whether it is possible to be on my parents policy and have my own policy because I occasionally need to drive my father's truck to work.
Zahir: Yes, I have lots of tips and they'll actually help you. Everyone was a first time insurance buyer once, and I've dealt with a few hundred of them personally and professionally. So pay attention and maybe write this stuff down, because here we go.
Finding the best price is always 100% your job, because only you can do it and you shouldn't trust anyone else. Online insurance estimates are fun (well not really), but they're highly unreliable at best and complete identity theft at worst. Do it by phone or in person, and you'll save yourself a lot of frustration. Call up an agent / broker or six, ask them for an estimate, and let them know you're very new to all this stuff.
When talking to the broker or agent, ask questions and lots of them. When they ask what limit of Liability coverage you need, ask them what that is and how it works. When they ask if you want Collision and Comprehensive, ask what those are. And when they ask how far you drive to work or how many drivers live in your house, ask why that would matter. There's a reason you want to ask all those questions, and it's a good reason.
Contrary to the TV commercials with the creepy-cute chick and the talking lizard, insurance is not actually a product you buy and price is not the only factor in the decision. Insurance isn't a product at all, it's a legal contract you enter into. The contract says that in return for your payment of $___ and your agreement to provide honest answers to their questions, they agree to cover the cost of this, this, and this exact kind of loss or damage if it should happen to you during the contract term. And believe me, it's a very specific and very complex contract.
Rule #3 is never sign anything you don't understand, and that's why you need to ask questions about what you're signing. Any moron can say "this much per month, sign here" and many morons do, but only a real professional can tell you (in plain English) what you're signing. If you talk to an insurance professional and they can't or won't tell you exactly what they're asking you to sign, that's exactly who you don't want to do business with no matter what price they offer.
A slick sales rep will tell you what you want to hear. A real professional will tell you what you need to know.
You can't buy insurance until you have a car to insure. Insurance is linked to the car, and taken out by the owner.
Now if you buy your own car, and insure it yourself, then your parents rate will likely decrease, even if you are sill listed as a driver (which you need to be if you live at home). Reason is that you will now be driving your car most of the time, reducing the risk of an accident in your parents vehicle.
If you buy a relatively cheap and safe car, the combined insurance may be less than before, especially if you can get a family discount for having more than one policy with the company.
No you would not be removed from your parents policy until they remove you.
I would suggest checking with your parents insurance company first as they may have a family rate that would allow you to have your own payments and insurance.
If you do not like their prices I would try Geico. They have always been the best rates for me.
I suspect that you are among the many who think that people are insured. We don't/can't buy insurance for People or drivers. We buy insurance for vehicles. This means that you first must have a vehicle to insure. Do you have a vehicle? If you do indeed have a vehicle to insure, the only best/only way to buy insurance is to get as many quotes as you can stand. Then choose the best quote for you and your unique circumstances. Get quotes from local insurance agents/brokers who have a physical office. Stay away from "Equotes" as they are notorious for being inaccurate and unreliable.
If you insure your own vehicle and will no longer drive your parents vehicle, then your parent(s) should remove you from their policy so their premium will be reduced.
Hi yes start with an older small car.
Can you afford ur own insurance?
Parents need to keep u own their policy as LONG as u live in the house.
Local educated adults can explain why