Owning your own home requires responsibility, focus and determination. First-time homebuyers cobble together strong credit and down payments to make that dream a reality. As it turns out, that level of accountability manifests itself in other areas of homeowners' financial lives: People who own their own home are slightly less likely to file an auto insurance claim than people who rent or live with their parents.
According to figures by Insurance.com, a quote comparison site, 14.3 percent of homeowners had filed an auto claim in the last three years, compared to 16.8 percent of renters who had done the same. The number leaps to 22.2 percent when the site surveyed adults who live with their parents. Circumstances don't point to financial incentives against filing claims, as many homeowners receive breaks from insurance companies on automotive policies. With bundle pricing abound in the market, the low rate of reported accidents make homeowners an attractive segment of policy holders for companies.
"Car insurance companies love homeowners because they win two ways," said Des Toups, managing editor of Insurance.com. "The homeowners file fewer claims on average, and the insurance company has another big-ticket item to insure."
The study found consistent data across generations, with respondents in their late 40's proving the statistic that renters file a higher number of auto claims than homeowners. In the study, the website polled people over the age of 18 to identify trend.
While it's impossible to say what the causes are, or even who is at fault for the accidents claimed, the numbers bode well for individuals who take the initiative to purchase their own residential property. For others, it might be yet another incentive to move out of their parents' house.