The short answer is YES. While it’s going to increase your premium (quite a bit), you want to call your insurance agent as soon as your teen gets his (or her) license. If you don’t call your agent, here’s what could happen…
While it is possible your insurer would pay a claim due to an accident caused by him, it’s also very likely you failed to perform a duty outlined in your insurance contract, thus potentially voiding some or all of the coverage available to you had you disclosed him as a licensed household operator.
Even if your insurer decides to pay the claim, they’ll most likely consider non-renewing your policy.
So let’s say you are non-renewed… What then?
Well, you’d have to go back to the market and find a new policy. Okay, this doesn’t sound too bad at first but there’s more.
Remember, when you go back to the market, you are subject to new underwriting questions.
Questions like “Have you been non-renewed by an auto insurer in the last 5 years?” If you answer “No” you’d be completing the application fraudulently. If you answer “yes” it is very likely the insurance quotes you’ll receive will be much higher than you’ve ever paid before. I mean SUPER high so don’t be short-sited and try to cut that corner.
Call your agent ahead time and get quotes for different vehicles you’re thinking about buying. This will help you budget accordingly because some cars won’t be nearly as expensive to insure as others.
Like most answers to insurance questions in Georgia, there’s more to this than we can say in a short blog post.
Be sure to talk to your local independent insurance agent to get a full picture of the pros and cons of disclosing your son on your auto insurance policy.