Family with 2 corvettes

[c6_jake]

We have a client that is going to be hard to deal with. He owns a 2007 z06 corvette, a 2001 corvette convertible, 2 new chevy trucks, and a beater farm truck (liab only). He also has a farm that is operating under a llc and the farm owns a new mustang. Heres the problem.....his girlfriend has bad credit and a son that is getting ready to turn 16, therefore a 16 yr old child makes the insurance go WAY up on anything, espically 2 vettes. I was wondering if you had any exclusional tacticts or a general way of handling this problem. We are a new independant agency that needs your help. Please respond with any advice.

[Big Dog]

Which state? Certain states will allow excluding certain drivers from vehicles, where others won't.

[Blondie2]

The 2 Corvettes, 2 trucks and the farm vehicle are registered to him personally and the Mustang is registered to the farm? Did he purchase the Mustang for his son's use?

[Wolf]

can the beater truck be titled and licensed to the kid as primary driver. If he has a vehicle and policy of his own it may protect the parents assets and establishes him separately. In NY a permit is no prob but when they get their license!!!!

[wlunday]

Wolf, I would not attempt to give a 16 year old kid a policy of his own! My carriers wouldn't write it, and, at least in Wshington, a 16 year old can not enter into a contract anyway!

Some carriers will allow a young driver to be excluded from driving certain vehicles ('Vettes), and will rate them only on the ones they are allowed to operate.

My advise to Jake is to do the research. If you can't do it in-house, get with a good Indy Agent and find a carrier willing to set the case up properly.

Swymmer

[30yearsexperience]

What state? We deal principally in ag risks. We run into situations with children and specific vehicles often enough to have a pretty good feel for the info to get and then how to get it done to "properly" insure the risks.
I would never insure a "beater" truck with the kid as the principal operator unless I knew for certain that is what he drives. To do that and he not be the principal operator is not something we would never do..........very poor advice....

[rachelg]

Don't waste your time. I realize you want to be able to help or serve customers in ay way possible. However, you are obviously getting into an area in which you are not familiar with and may put yourself at some sort of unknown risk. Provide the customer the information they need to make a great choice. Share with them the importance and value of having multiple cars on a policy. Explain to them why an insurance company requires all licensed drivers be on a policy and hwat can happen if they don't. This customer needs some advice and expertise from you. Provide hime with honest and accurate information and he will likely buy from you anyway. If not, then this policy is just not ment to be. There are way to many leads in the sea to risk any potential wrong doings.

[Sundance]

To me it is apparent that this new insured (prospect) KNOWS exactly what he/she is doing and so they are hoping you'll work all the angels to take care of Jr driving (probably the Mustang) but rating to that old farm truck. Who is their prior carrier and just WHY are they shopping? Also, you have yet to respond, what state are you in?

This is one to walk away from or do a Progressive type policy with the kid on the vehicle he actually drives and then have Mom and Dad AND the kid sign off in 16 ways that they KNOW the little pumpkin isn't covered on ANY other vehicle. Agreed with 30YE, 16 year olds cannot enter into any contract (in TX) as they are not of legal age therefor they cannot sign an insurance application as that is a legal contract.

It's hard to walk away from accounts sometimes but it's better than an E&O biting you down the road.