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Tips For Balancing Affordability And Protection In A Family Auto Insurance Plan

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When you have several drivers in the family to insure, a group auto insurance plan is often the way to go for the best coverage and price. But there are a few steps that you should follow to make sure that you're getting the best deal. 

Make Sure Every Driver Is Insured

The first thing to note is that everyone in your household with a driver's license must be insured, even if they only drive occasionally. Your insurer may do a driver's license search for your household to make sure that all family members are included in your plan. 

Use a Single Primary Driver

Having one person listed on each vehicle in your household as the primary driver can save you a lot of money if that person is a parent with considerable years of driving experience and a good record. Even if the car is driven by the children often, you can list them as additional drivers to keep your premiums lower. 

Limit New Drivers to One Car

By the same token, you might not want to have every single person in the family insured on every vehicle. Each new person on the insurance registration adds risk (and cost) to the premium, especially if those drivers have little to no driving experience. Choose one vehicle to insure in each new driver's name. 

Note that by arranging your insurance policy this way, you may be taking on a little bit of extra risk for yourself. For instance, if a family member is behind the wheel in an accident and they are not listed on the insurance policy for that vehicle, the insurance company may impose some limits on your reimbursement for certain damages. But it's a great way to save some money on your premiums. 

Consider Added Insurance Wisely

You may be wondering whether it's wise to get added insurance coverage for your vehicles when they're being used by the whole family. The answer depends on a few things. If you have an expensive vehicle in the family, getting collision insurance is a smart idea; even a small fender bender could cost you a lot out of pocket. But you might also choose to go another direction and confine your younger drivers to a less valuable car, so that it doesn't make your collision insurance premiums skyrocket. Speaking with a knowledgeable auto insurance broker, or visiting websites like http://www.powellinsuranceportsmouthohio.com, will help you to sort out these tricky details.