Car Insurance for a Family of 5

[Ellie]

Hello everyone,

I was wondering if there are some option for a big families to save on car insurance by "bundling" the coverage in Florida State.

1. Father is 55 years old, no accidents, good history, owns a car.
2. Mother is 55 y.o., good history , owns a car, rarely drives, resides with father.
3. Son1 is 26 y.o., single, good driving history, owns a car, lives 3 blocks away from father and mother.
4. Son2 is 20 y.o., single, student, good driving history, owns a car, resides with parents most of the times.
5. Grandmother is over 65y.o., owns a car, resides with Son1, have a good driving history.


So there are 5 people in a family, 5 cars, 2 residences. What would be the best way, cheapest way to purchase car insurance coverage? Considering that family members sometimes take each others cars.

Could anyone please solve this dilemma for me and advise the best coverage to purchase?

Many thanks in advance.
Ellie

 

[Sales71]

Hello everyone,

I was wondering if there are some option for a big families to save on car insurance by "bundling" the coverage in Florida State.

1. Father is 55 years old, no accidents, good history, owns a car.
2. Mother is 55 y.o., good history , owns a car, rarely drives, resides with father.
3. Son1 is 26 y.o., single, good driving history, owns a car, lives 3 blocks away from father and mother.
4. Son2 is 20 y.o., single, student, good driving history, owns a car, resides with parents most of the times.
5. Grandmother is over 65y.o., owns a car, resides with Son1, have a good driving history.


So there are 5 people in a family, 5 cars, 2 residences. What would be the best way, cheapest way to purchase car insurance coverage? Considering that family members sometimes take each others cars.

Could anyone please solve this dilemma for me and advise the best coverage to purchase?

Many thanks in advance.
Ellie

I think you can get away with two policies...
1. husband and wife and daughter in one policy.
2. Son and grandmother in one policy.

 

[djs]

You'll need to sit down with an agent to sort out the best way to do this. Its really hard to say how to best structure this without understanding the family dynamics a bit more, looking at various rating factors and who is the registered owner of what and where.

Hopefully, a Florida agent will contact you soon to work through this. Keep in mind though, if they live in different houses, they are normally different policies. So, you are not looking at a family of 5 (from an insurance perspective), you are looking at 2 households, possibly 3 (depending on Grandma).

You may have to think about renters/homeowners insurance as well.

Dan

 

[SCLady]

For many carriers, the registered owner of the vehicles needs to be the same as well. So, if grandma and grandson have different owners, they will likely need separate policies, although they're in the same household.