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Many auto insurance companies encourage bundling policies, which is often a smart idea. Parents frequently use a strategy to add a child to the parent’s policy once the child is old enough to have their own driver’s license. Before proceeding with this decision, your insurance representative at NY Twin Bridges Insurance Agency serving Albany, NY suggests taking a moment to consider all the relevant factors.
Driving History
A new driver probably won’t have much of a driving history to consider. But if you’re adding an older child to your auto insurance policy, they will have a longer driving history, which can work in favor or against you. A driving history without incident will not affect your policy terms. Still, if your child has moving infractions or accidents in their driving history, this will likely impact your policy terms unfavorably.
Convenience
Maintaining multiple insurance policies and ensuring that premiums are all paid on time can be a painstaking undertaking. This is another reason why bundling is so often recommended. So, if you’re looking for a way to simplify your life, then adding an of-age child to your auto insurance policy might be a good step toward that goal.
Household and Vehicle Ownership Considerations
Most insurers require all drivers on a policy to be part of the same household. College students who still use a family vehicle can typically remain covered, but those who have permanently relocated may need to obtain their own insurance. Also, if a child owns a car in their name, some insurers require them to have a separate policy.
There are a lot of ins and outs to consider, which is why you should consult with your insurance representative at NY Twin Bridges Insurance Agency serving Albany, NY for help in making this important decision.
