Although teenagers are eagerly waiting to get behind the wheel, as per the new rules their wait could go on for a bit longer. The new rules that are in force are the reason for parents to postpone getting a driver’s license for their teenaged kids. Parent are taking some tough financial measures because every average household in the United States is presently paying around $3,100 each year in order to allow youngster to drive, and $800 is paid on an average towards auto insurance – as per the poll conducted by Nationwide Mutual Insurance Company.

Parents do realize that there are sacrifices and adjustments that need to be made due to the economic crisis, in order to allow their teenaged kids to drive, states Larry Thursby, VP, auto product and pricing, Nationwide. The auto insurance seems to be the biggest concern for around 66% of the parents of teenaged kids as parents are worried about the costs associated with the teenaged drivers. Around 41% of the parents are bearing up the costs of teenaged driving and this is forcing them to make cuts in other areas like eating out, entertainment, family vacations, etc. All this is being done to allow their teenaged kids to hit the road. Now one out of seven families seems to be delaying the idea of letting their teenaged kids drive only to cut down on the costs of auto insurance.

As per the survey at least 1/3rd of the teens are seeking employment in order to pay for their driving-related expenses. There are a few steps to cut down on the driving costs for a teenager such as:

  • Adding the teenaged driver to an existing policy will help in availing the discounts that the parent has earned already. So children can ride piggy-back on the policies of the parents who have a good driving record. Auto insurance companies look for a good driving record and this will help to a large extent.
  • It is a good idea to encourage teenagers to get good grades in school as auto insurance companies offer discounts to students who score well.
  • Get your teenager to enroll in a proper certified driver’s course. It will help bring down premiums while keeping your teenager safe on the roads as well.
  • Pay higher deductibles to avail lesser premiums.
  • Shop around for the best policy and avail discounts. Take a cover that is appropriate and avoid the unnecessary ones.

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