How Do Kids Affect Car Insurance?

10 February 2020
 Categories: Insurance, Blog

If you have a new baby on the way, you are probably trying to get your life figured out so that you can focus on their arrival. One area that people may worry about is how their child will affect their car insurance. Keep in mind that your rates will not go up because of a new addition to the family. However, adding children to your family does affect a lot of things that can affect your car insurance rates. These changes may not happen immediately, but they do happen, so they are important to keep in mind. 

Buying a House

With more people in a family comes a need for more space. This can be a challenge, but buying a home can actually save you money on your auto insurance. If you get your home and car insurance with the same company, they may offer you big discounts.

Changes in Behavior

It is amazing how becoming a parent can change how you do things. Obviously, there is someone new in your life to think about. Parents have to think of a whole new person and prepare for any need that may arise. Yet, more than just their daily habits change. Many drivers seem to slow down a bit when driving their children around, which results in them receiving fewer tickets. With fewer tickets comes a lower insurance premium. 

Buying a New Car

Some people really seem to dislike vans. However, have you ever ridden in one? Those things are incredibly comfortable, can fit up to 8 people, and are solid! The new vans and SUVs on the market offer top-of-the-line safety features, most of which are very advanced when compared to older cars. Did you know that having a safer car could save you money on your insurance? Maybe vans aren't all that bad after all.

Future Expenses and Savings

It is true that adding teenagers to your insurance policy can raise the price, but there are opportunities for teens to help with the bill too. Some insurance companies offer a good grade discount. It pays for your child to get As.

In conclusion, even though having a child will not immediately affect your car insurance, it is likely that some of the consequences of a growing family will. This knowledge may help you to see changes coming down the road and plan accordingly.

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