Car and life insurance


As someone who has just started driving, I’ve been reminded countless times how high my insurance will go up if I get into an accident. This has caused me to wonder how much does car insurance actually cost and how much would it go up depending on how we mess up? I asked my parents how much my car insurance cost, and although they would not give me an exact number, they said the average teenage car insurance is around $6,000 per year, for a girl at least. On average, car insurance for a boy is 14% higher than what it would be for a girl, as statistically boys get into more accidents than girls. After a single accident where you are at fault, your rate can go up 46% which is crazy! Hypothetically one day I had a friend over, and as the friend was reversing out of my driveway, she hit my car and dented it pretty badly. SO hypothetically if she had filed the accident under her insurance, her rate would have gone up a crazy amount. But, if in this hypothetical situation her mom had hit my car, the rate would go up significantly less. This hypothetical situation taught me how important it is I dont get in a car crash, and my parents wouldn't take that fall for me as it is definitely insurance fraud and a federal offense.

Another experience I had was learning first hand about life insurance. My grandpa somewhat recently had to go into an assisted living home since he's unable to do many things on his own now, and my parents were worried about having to bear the cost of that, but we found out my grandpa every year since he was 18 put money away in his life insurance to use when he got to this stage in life. So he's able to live in a home with 24/7 caregivers, and use the money he responsibly saved through investing good life insurance in order to get the help he needs now. So, I know I would like to start this as soon as possible but I know unfortunately the only currency I have at the moment is Starbucks and target gift cards which I'm not sure State Farm will accept.


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