Family insurance increase with new G1 driver

by RK
(Ontario, Canada)

Hi


I was wondering how much increase I should expect in our family auto insurance now that my son, turning 16, wants to get a G1 drivers license. Currently, we pay $212/mo for 2 vans (2003 Venture and 2007 Grand Caravan) for 2 drivers, mom and dad. Also as an aside, we have 2 other teens turning 16 in the next two years. As you can see, n significant increase in our auto insurance will affect our family budget significantly. Therefore we want to plan, whether we should allow them to take a G1 right away.

Thanks for any information.

RKan

G1 license and Insurance Rates


Hi there,
You certainly have your hands full right now. The good news is that the vast majority of insurers do not change rates for adding a G1 driver. It is when your kids get their G2 that you will see a substantial increase.

Assuming you keep it at 2 vehicles, you can have mom and dad as the principal operators. If you got a third vehicle, one of the kids will be the principal. Even as occasional drivers, you can expect a big increase. You can minimize this by having them take driver training. And you should shop around to compare rates.

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Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.

Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind.  Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.

Always speak with a licensed insurance representative about your specific situation.

This site is general in nature and there may be errors or ommissions

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