State Farm just canceled my parents’ insurance policy because of my accidents. What companies should I consider switching to?
A bit about me: I’m a 19-year-old male, my car is insured in Idaho, and I’m currently in college in Colorado.
As the title suggests, I’ve had 3 accidents in the past four years. The first incident involved someone hitting my car and fleeing the scene. Then, while my car was in the shop for repairs, it ran out of oil and the engine seized shortly after I picked it up, resulting in a total loss. After that, I got a new car, but unfortunately, I backed into someone in an awkward parking lot at low speed, which caused significant damage. I had that fixed, but then over a year later, during Thanksgiving week, I found myself in a tough situation when it snowed heavily. I didn’t have snow tires and while driving through my neighborhood at around 20 mph, I lost control, skidded off the road, and hit a tree, totaling my car.
I acknowledge that I could have been more cautious given the conditions, and I’m not trying to make excuses. I recently acquired a new car with the insurance payout, but yesterday my mom was informed that State Farm is canceling all of our policies due to my driving record. They wanted to cancel everything, but thankfully, my car has an automatic renewal and my dad’s truck is still protected, so we managed to keep some coverage.
Now, I’ve decided it’s time for me to get my own insurance policy to allow my parents to keep their long-term benefits without being penalized for my mistakes. While my parents will help me out, I’d like to handle most of the process on my own. Since I’ve never had to deal with this before, I’m feeling a bit overwhelmed.
I’d really appreciate any recommendations for insurance companies that might offer decent rates. Also, if you have any tips on how I can navigate this process myself, I’d love to hear them. On a side note, do you think it’s fair for State Farm to cancel not just my policy but my parents’ as well, especially considering my mom has never had a speeding ticket and they haven’t had any accidents since I was born?
Thanks in advance!
It’s great that you’re taking responsibility for your situation and looking out for your parents! Finding a new insurance company can be challenging, especially with your driving history, but there are options available. Here are some tips and recommendations for finding car insurance:
Shop Around: Different insurance companies have different underwriting criteria, so it’s important to get quotes from several providers. Consider using insurance comparison websites like NerdWallet, The Zebra, or Gabi to get multiple quotes at once.
Consider Local Insurance Companies: Sometimes, local companies have more flexibility with their rates than larger, national insurers. Research local insurers in Idaho and Colorado to see what they offer.
Look for Programs for Young Drivers: Some insurers provide discounts for young drivers who complete safe driving courses or use telematics programs that monitor your driving behavior and reward safe driving with lower premiums.
Check for Discounts: Ask about discounts for good grades (if you’re a student), bundling with other types of insurance (like renters or homeowners), or discounts for low mileage.
Higher Deductibles: You might consider opting for a higher deductible, which could lower your premium. Just make sure you can afford the deductible in case of an accident.
Non-Standard Insurance Providers: Some insurers specialize in high-risk drivers and may be more willing to offer you a policy. Companies like The General, Progressive, and Safeco are known for underwriting policies with higher risk profiles.
Consider State-Specific Programs: Some states have programs for high-risk drivers that can help you find affordable coverage. Check if Idaho offers this type of program.
As for your parents’ situation with State Farm, while it’s understandable for them to be concerned about their coverage, insurance companies can sometimes react to perceived risk factors, such as having a family member with a poor driving record. Ultimately, they want to minimize their losses.
It’s commendable of you to think of your parents’ benefits while managing your own insurance needs. Just be open with your insurance agent about your driving history and be honest in your applications to avoid any issues later on. Good luck, and remember that building a better driving record over time will help lower your premiums in the future!