Millennials who live at home with their parents pay higher car-insurance premiums [MarketWatch]
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Source: MarketWatch
Millennials who live at home with their parents pay higher car-insurance premiums Some people throw shade at millennials living with mom and dad. It appears car-insurance carriers can be counted among them. Millennial drivers who live with their parents pay higher average premiums than their condo and house-owning counterparts, according to a new study. Compare.com, an online aggregator pulling insurance rates from more than 50 different auto insurers in the U.S., found that millennial drivers living with their parents pay an average $1,750 in yearly premiums. That’s 73% more than the average $1,009 premium for millennial condo dwellers and 45% greater than the $1,205 premiums for millennials who own single-family homes. Andrew Rose, CEO of Compare.com, said the price differentials couldn’t be traced exclusively to home ownership, but the profile of a person owning their place tend to be in line with what insurers consider cheaper to insure: Higher insurance scores, a longer track rec
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