How high is our insurance renewal likely to be
(Whitby, Ontario Canada)
My son who is 18 is on my insurance as an occasional driver while he only had his G2 license he was stopped for speeding over 50km he got a 30 day ban, 6 demerit points and a fine. We had only just received our insurance renewal so it did not change for this year. My son has now got his full G license I was wondering what sort of increase would we be looking at?
Reply: Auto Insurance Renewal Rate
Oh boy, teenage boys!
At 50km/hr over there is a strong chance that your policy will be cancelled on renewal. And it could be difficult to find new coverage anywhere near the rate you might be paying now (expect double or more).
If you are cancelled, you might be able to find coverage and specifically exclude him as a driver on that policy to get more affordable rates. But then he would be without coverage. In that scenario he could have a car in his name and have an insurance policy in his name as well.
If I were you, I would wait until receiving notice from the insurer leading up to your next renewal. You have that time frame to think about what to do. Best of luck!
Oh, by the way, before making any decisions, please be sure to discuss this further with a licensed insurance representative. FREE Auto Insurance QuotesOther Pages of Interestcar insurance in Ontario CanadaCar Insurance Canada
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