When you have kids, just about everything in your life changes. From your schedule to your budget, your eating and sleeping habits and beyond, you’re in for the ride of your life. But what about car insurance? Will having kids mean a change to your car insurance rates?
There are some situations where the answer is yes, and we’re going to talk about them today.
If you choose a safer vehicle
Let’s say you swap out your Lamborghini for a more practical SUV with a higher safety rating when you have children. Doing this will usually result in a lower insurance rate simply because you’re driving a safer vehicle.
If you purchase a home
Maybe you make the switch from renting to owning a home when you have kids. Being a homeowner can come with car insurance benefits, including a discount on your car insurance policy. At the same time, it’s worth inquiring about bundling your home and auto insurance policies to save even more.
Safer driving habits
Most new parents find themselves driving more cautiously than ever before. In turn, this can mean you get fewer (or no) tickets and ultimately qualify for a safe driving discount. The longer you can maintain a safe driving record, the better.
When your children start driving
If you have young children now, it might be hard to imagine them ever being old enough to drive. But this seems to happen in the blink of an eye for most families! Once your teenage child starts driving their own vehicle, you could consider bundling their coverage with yours. Bundling tends to come with generous discounts, and this is another way it could save you money each month on your own policy. (If your child maintains a high grade average, they could be eligible for even further discounts!)
Do you want to learn more about the different factors that affect your car insurance rate? Call us today and let’s talk!