Nationwide Unveils Plan for S.C. Teen Drivers

Nationwide Mutual Insurance Company announced the introduction of the Nationwide Insurance Family Plan^SM, a program available exclusively to the company’s customers in South Carolina. The pilot program will allow parents of teen drivers to save up to 25 percent on auto insurance for their children.

With the Nationwide Insurance Family Plan^SM, parents who have multi-line discounts with Nationwide can apply the same discount insurance to their teen driver’s auto insurance policy. If the young driver maintains a good driving record, they can keep available discounts when they are ready to separate from their parents’ car insurance policy.

A recently released report from the National Association of Insurance Commissioners showed that the average auto insurance expenditure in South Carolina increased by $2.27 in 2006. It is likely that auto insurance expenses in South Carolina have increased even more since then. Legislation passed by the South Carolina General Assembly, which took effect Jan. 1, 2007, has increased minimum liability requirements for South Carolina drivers. It is likely that this will be reflected in next year’s NAIC report, which will include numbers from 2007.

Nationwide will pilot the Nationwide Insurance Family Plan^SM for South Carolina car insurance customers for the rest of the year. Based on the program’s success, the company will evaluate the possibility of making it available for customers across the country.