Time To Move Out! Millennials Who Live At Home Pay Higher Insurance Premiums

Credit: Buzz60
Published 3 weeks ago - Duration: 00:50s

Time To Move Out! Millennials Who Live At Home Pay Higher Insurance Premiums

Millennial drivers still living at home are paying higher average premiums than those who don't.

Buzz60's Natasha Abellard has the story.

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Time To Move Out! Millennials Who Live At Home Pay Higher Insurance Premiums

Most millennials who stay at home are usually doing so to save money.

????But car insurance carriers seem don’t seem to have gotten the message.

????According to a new study, millennial drivers who are still living with their parents pay mch higher average premiums than those who don’t.

????Online aggregator Compare.com gathered insurance rates from over 50 US auto insurers.

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??They found that the average yearly premium for millennials still at home is $1,750.

????That’s a 73% more in comparison to millennial condo owners who spend an average of $1,009.

????For millennials who on their a single family home, the average is $1,205.

????Consumer Analyst at Car Insurance.com Penny Gusner says that credit could also play a role.

????Gusner says that drivers living with their parents might not have a healthy credit history in comparison to homeowners.

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