Owning a home makes you a better driver

Are homeowners safer drivers?

Are homeowners safer drivers? The data shows that homeowners tend to file fewer auto insurance claims then non-homeowners.

It seems possible according to a new study by Insurance.com. The data shows that homeowners tend to file fewer auto insurance claims then non-homeowners.

The majority of auto insurers take homeownership into account when determining rates for new customers. In almost all cases, homeowners will pay less than renters for auto insurance.

Insurance.com looked at data from over 700,000 drivers who filled in a questionnaire on the site between January 2012 and July 2014. Insurance.com further parsed the data by breaking out the numbers by state and age group. Data was not available for certain states, including Alaska, District of Columbia, Delaware, Hawaii, Louisiana, North Dakota, Rhode Island, South Dakota, Vermont, West Virginia and Wyoming.

The study looked at all types of auto insurance claims, included were collision, comprehensive, liability and uninsured motorist claims.

A few of the more interesting facts teased out the data:

• 14.3 percent of homeowners filed at least one car insurance claim in the past three years.
• 16.8 percent of renters filed a claim.
• 22.2 percent of licensed drivers that live with their parents filed at least one claim.

Young Drivers File More Claims

The group most likely to file a claim on their auto insurance was young drivers who resided with their parents. According to the data, 24.4 percent of drivers aged 18-24, living at home filed a claim on their auto insurance in the past three years. Only 19.7 percent of renters who fell into this age group filed a claim and a mere 17.6 percent of homeowners between 18-24 filed an auto insurance claim in the last three years.

Its not just young homeowners who are driving safer and foregoing claims. When Insurance.com looked at drivers in the 45 to 54 age group, the findings were pretty similar. A whopping 15.2 percent of drivers in this age group, who still live with their parents filed an auto insurance claim while 14.1 percent of renters filed one. Only 13.4 percent of middle-aged homeowners filed a claim.

According to the data, Nebraska had the largest disparity between renters and owners. In Nebraska, 22.6 percent of renters have filed a claim in the last three years while 15.2 percent of homeowners called their agent to report an accident.

As drivers continued to age, the chances of an auto insurance claim grew higher, regardless of whether they were a homeowner or a renter. The data found that 14.7 percent of both homeowners and renters aged 65 to 99 filed a claim within the last three years.

Surprisingly, the safest drivers turned out to be older drivers who were living with their parents. Only 11 percent of people aged 65 to 99 who were living with their parents felt the need to file an auto insurance claim.

There were a few states where renters were more prudent in their claim filing compared to homeowners.  Indiana, Louisiana, Michigan and Oklahoma saw higher claim rates from homeowners.

Bundle to Save

If you are a homeowner, a great way to save on both your car insurance and homeowners coverage is to bundle.

While the discount for buying both coverages from the same insurer will vary, according to Insurance.com the average savings is an impressive 8 percent. In some states the savings is even greater. In North Dakota and Iowa, bundlers saved an average of 14 percent.

Renters can take advantage of a bundling discount as well but the savings will not be as dramatic. Insurance.com estimates the average savings to be an unimpressive 5 percent for renters who bundle.