Are Homeowners Better Drivers Than Renters?

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A recent Insurane.com report indicates that homeowners are better drivers than renters.  The website found that drivers who own their home file fewer insurance claims than than renter counterparts.   Data from over 700,000 drivers was analyzed.  The study also concluded that drivers 18 to 24 who lived with their parents filed the most insurance claims (even more so that renters) and that drivers between 65 and 99 filed the least number of claims.

It is surmised that homeowners generally have higher net worths and/or more stability than renters leading to the difference in claims between the two groups.  Insurance companies must know that homeowners pose less risk as they charge this group less than renters.

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  • Also college graduates pay less for auto insurance. NYPIRG has filed suit stating that a higher level of education has little or nothing to do with safe driving.

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