Home Renters Dinged on Car Insurance

May 4, 2016

Good drivers pay more for auto insurance if they rent, rather than own, their home, according to new research by the nonprofit Consumer Federation of America.

“I don’t think it’s fair,” renter Autumn Yoakum said.  “There’s no difference between me and a homeowner besides a mortgage.”

Said renter Karim Maghaaoui: “If you’re a good driver, your insurance should be lower.”

The average increase in 10 states surveyed showed renters were charged 7 percent more for their premiums, an average of $112 a year.

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