My son is 14, and he’s already asking if he’ll be able to drive when he turns 16. I haven’t been sure what to tell him, because I didn’t have the slightest idea how much of an increase that might mean in our car insurance. So I made a phone call to our insurance company (USAA) to try to get a general idea.
They based the “general idea” estimate on the following factors: we have no changes to our existing cars, location, or driving records, my son takes a driver’s ed class, and my son’s grades are B’s or better. My current insurance on my car averages $50 per month. Their guesstimate at what I might be looking at in the future is an additional $111 per month. That’s uh, painful to contemplate, especially since it’s just insurance costs. Then there’s gas, maintenance, his own car if he buys one, etc. Cars really are a big expense.
They did mention that there is no premium increase while he has his learner’s permit, which I didn’t realize. The premiums only increase when he actually gets his license. So at this point I can at least give him an idea of the potential costs, and let him know that he’ll be able to get his learner’s permit. Even though it’s a big expense, I feel a little better at least having a general idea of just how big of an expense to prepare for.