How Can I Determine the Cost of Each Driver on my Policy?
When you add someone to your insurance policy, you may be surprised at how much your premiums rise. If that's the case, considering how much each driver is costing you and whether you want to continue to cover them on your policy is important. In order to do that, you'll need to know the cost of each driver. That can be hard to determine, because it's not broken down in your policy documents like the cost of each vehicle. If you have a policy that only has you on it, make a note of what you're paying and then add another driver. See how much it goes up, and subtract your original premium from the new one. That's the cost of that driver.
But what if you have three or four drivers on the policy, or you added someone a long time ago and don't remember how much you were paying before you made that change? For people who really need to know the cost of each driver, it may be best to work with their insurance company to get that information. You can have the agent "make changes" to your policy in order to see how the premium changes, and some simple math will tell you what each person is costing you as a driver on your insurance policy. It can take a few minutes, but if you have to find out the cost per driver that's the easiest way to do so.
Explain to the insurance agent what you're doing and why, and he or she should have no problem helping you determine the per-driver cost on your policy. Once you know that cost, you can decide if you're paying too much for a driver who may not have the best driving record. If it's a problem for you, you may want to consider telling that driver that he or she has to find other insurance so that your policy will come down to a reasonable level. You can also have each driver pay their portion of the policy directly to you, which could also solve the problem.
