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Daily Insurance Industry News
Friday 20th of April 2018
November 21, 2012

Parents predict rise in children’s car insurance

by Richard Kilner

Story link: Parents predict rise in children’s car insurance

Parents predict rise in children’s car insurance

A third of parents who presently help their children pay car insurance premiums have indicated that they will stop doing so once the new EU Gender Directive comes into force.

Research commissioned by Aviva also found that a third of parents would try finding their son or daughter a less expensive car and 44% stated that they would have to increase their contributions to their child’s car insurance to keep their vehicle on the road.

The majority of parents believe that, following the directive’s implementation, they will have to pay more or stop altogether and a quarter predict that their children will have to drive less often.

However, Aviva’s research suggests such predictions might be premature, as 60% of parents believe the directive will increase premiums and 8% that it will decrease them.

In reality, premiums could fall by 10% for male drivers and rise by up to 25% for female drivers.

 

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