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28/10/2009
The average age of children named on their parents' motoring insurance policies has climbed to 31, new research suggests.
According to uSwitch.com the average age has leapt up from 25 in just one year, as younger people rely more on their parents in the face of the recession.
The company's research also suggests that up to 10 million drivers have a second named driver on their policy, with around a quarter of these having added their children.
Naming a child on a parent's policy is a legitimate practice where they are not the main driver of the car.
However, uSwitch.com is warning that the figures could suggest a trend for 'fronting', where parents take out insurance on a vehicle owned and primarily used by their children, but tell the insurer that they themselves are the main driver. This results in lower premiums, as insurance companies generally view older drivers as being a lower risk.
A spokesperson for the Association of British Insurers (ABI) told Admiral News that fronting could even invalidate a car's insurance if it is found that the child is the main driver of the vehicle.
"It's tantamount to fraud," he added.
Mark Monteiro from uSwitch.com said: "Not only are hard-up 'kidults' living at home for longer, but they are hanging around on their parents' insurance policies for longer too."
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