1. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! Honestly? Your parents' policy will be far and away cheaper than any that you might purchase for yourself. The 16-21 age bracket is the most risky for insurers, and they will most certainly charge you accordingly for that risk. Your parents will get breaks on their insurance that you won't, and by adding you to theirs, they should get another one.
    If that really isn't an option for you, my suggestion is that you do your homework and shop for the best rate. You want to look for a deductible amount (the highest amount of money that you could scrape up if you needed to) that is affordable, and the most coverage that you can afford. a comprehensive policy is best, if you can find one that you can easily afford. Be a safe and conscientious driver, and that will help out tremendously also. Good luck, and Congratulations on graduating. That is really something to be proud of. Thanks for asking!
    Answered on May 16, 2015
  2. 552 POINTS
    Ruth Ladas
    CEO, RLI - Ruth Ladas Insurance, LLC, Fort Myers, Florida
    If you are not able to stay with your parent's policy, one way to get discounts is to purchase another type of coverage from the same carrier. Life insurance, health supplemental, or renter's policy would get you a multi-line discount - and would be useful and good for you.
    Answered on May 17, 2015
  3. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    In California the key to auto insurance rates is who is on the title of the vehicle and where is the vehicle located. The way to pay the least is to live at home and have the parents on the title. They don’t need to be the sole title holder but should be included as co-owner at a minimum. Your parent’s company might even reduce the premium if you leave the car at home when you go to college a long way away. I think you understand that as a single individual with little driving experience it will be difficult to obtain inexpensive auto insurance, because those kinds of drivers have more accidents than average.
    Answered on May 18, 2015
  4. 161 POINTS
    Ty Peck
    Agency Producer, Farmers Insurance, Ferndale, WA
    Great question! Usually staying on the parent's auto policy will be best, as you retain all the discounts that they currently have. You can still pay your own premium and even have your own policy # with some companies. Going "solo" at a young age can be very expensive, especially with no credit history. Hope this helps!
    Answered on December 7, 2015
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