In recent years, long-time agents may have noticed a change to their auto insurance leads, as they may more frequently list information about older Americans rather than the younger generation.
Reuters reports that since the 21st century, driving in the U.S. has become less frequent. This trend has been particularly common among young people, or those between the ages of 16 and 34.
The news agency indicates that, based on the federal government's National Household Travel Survey, the average annual number of vehicle-miles traveled has diminished from 10,300 in 2001 to 7,900 in 2009 among Generation Y. In addition, fewer people are getting licensed to drive, as the Federal Highway Administration notes that roughly one in four 16-to-34-year-olds didn't have a driver's license in 2010, up from 21 percent in 2000.
Experts who have researched the phenomenon say the reasons young people are driving less frequently tend to be economic in nature, as many aren't able to afford the added expenses like gas, maintenance and insurance.
Agents may want to remind their insurance customers who are parents of teenagers to add them to their plan, as rates tend to be lower than if they were to take out their own policy.
Posted In: Insurance News