[FL] Should I add my mother to our auto policy after her recent accident?
My 67-year-old mother was involved in an at-fault accident that resulted in her car being totaled. I’m considering whether it would be more cost-effective to add her to our auto policy for our old 2006 Hyundai Accent or to buy her a used car and have her get her own policy. She typically drives less than 1,000 miles a year, and aside from this recent incident, she has a good driving history. It might also be convenient for us to share the older car since she won’t be using it often. My wife and I have an excellent driving record, and we all live together in Florida. If there’s anything else I should consider, please let me know. Thanks!
When deciding whether to add your mother to your auto policy or buy a used car for her, there are a few factors to consider:
Insurance Costs: Contact your insurance provider to get quotes for adding your mother to your existing policy versus getting a separate policy for a used car. Given that your mother has a recent accident but otherwise a good driving record, this could impact the rates differently.
Shared Use of the Car: Since you plan to share the old Hyundai Accent, adding her to your policy may be more convenient. Typically, it might be cheaper to insure one vehicle with multiple drivers than to insure two separate vehicles.
Frequency of Use: Since your mother will drive less than 1000 miles a year, a used car could also be a viable option if you find an inexpensive one. However, the maintenance costs and the potential for added insurance costs must also be factored in.
Discounts: You might be eligible for discounts for having multiple drivers on a single policy. Additionally, if your insurance company offers discounts for low mileage, that might apply to your mother’s situation as well.
Coverage Needs: Think about how much coverage your mother would need. If she drives infrequently, minimal coverage might be suitable, but ensure it meets Florida’s requirements.
Accident History: Her recent accident will likely increase her premiums if she gets her own policy, so compare quotes carefully.
In conclusion, it might be worth comparing both options based on quotes and your family’s specific insurance needs. Getting a few different quotes from insurance companies can help clarify which route would be more budget-friendly.