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Financial News

MoneyExpert.com - Parents 'clocking up the miles' for children - 28/02/2008

Chauffer parents are clocking up over 1,600 miles every year by ferrying their children around to after-school clubs, social engagements and other events, it has been revealed.

Research by AA Insurance found that should parents decide to start charging for their duties, they could add an extra £2,983 to their annual salaries.

Simon Douglas, director of the firm, warned that a third of all car insurance claims following an accident happen in urban areas and close to home and advised drivers and passengers to be safe and wear their seatbelt.

He said: "With the car at the centre of family life it is essential that parents make sure they are properly protecting their most precious cargo."

Parents seem to be more generous than ever when it comes to their offspring, it has been revealed, with research by Abbey Mortgages stating that one in seven children now receive financial assistance with their first house deposit.

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