Husband and Wife both 40 years old with a newly licensed 17 year old female daughter living in Princeton, NJ both insuring 2005 Honda Accord LX, with $850 deductibles for COMP/COLL, no tickets/accidents in 3 years, Basic Policy:
CURE Annual Premium BEFORE child “hits the road” $1,717
With 2 cars and 3 drivers (AFTER):
Annual Premium with CURE $3,211 annually
With 3 cars and 3 drivers (AFTER) with 2000 Honda with NO physical damages:
Open discussions with your child – you should always be an alternative to drinking and driving
DO NOT COMMITT FRAUD – Reinforced in Palisades v. Bastien (Supreme Court Case) defines threshold of fraud sufficient to “void ab initio” - which cited Mass Mut. V. Manzo (1991) explaining that a a misrepresentation is material if it “naturally and reasonably influences[s] the judgment of the underwriter in making the contract at all, or in estimating the degree or character of the risk, or in fixing the rate of premiums"