Finances cause one in seven parents to delay teen driving. With high unemployment, concerns over rising gas prices and inflation, plus the cost of auto insurance for young drivers, the expense of getting a teen behind the wheel is greater than ever according to poll conducted on-line by Harris Interactive on behalf of Nationwide Mutual Insurance Co.
Fewer 16 year olds are being allowed to drive
“Our survey found that households with teen drivers shell out an average of nearly $3,100 each year to allow their teens to drive,” said Larry Thursby, Vice President of Auto Product & Pricing at Nationwide Insurance. “After analyzing Nationwide’s four million auto policies, we found nearly a half percentage decrease in policies with teen drivers, from 5.8 in 2008 to 5.4 in 2011. While other factors are involved, the cost of having a teen driver is a major one.”
Some American teens are having to delay getting their driver’s licenses as the result of an uneven economic recovery and rising prices, the survey shows. The poll, conducted online by Harris Interactive, surveyed 1,483 parents of driving age teens (15-19 year olds) between December 10, 2010 and January 5, 2011.
For other survey results, read more…
Source: Nationwide Mutual Insurance Co, News Release – Apr 5, 2011