A new study by national consumer group Consumer Federation of America revealed that drivers in Florida who rent – as opposed to own – a residence are charged 10 percent more for car insurance.
In some places across the country, it’s even worse, with auto insurance companies charge 47 percent more to renters versus homeowners – regardless of their driving history. The group reached these figures by analyzing insurance quotes for a safe driver aged 30 in different markets.
Nationally, the average for renters was 7 percent higher – or another $112 annually – compared to drivers who own their home. The worst offender was Liberty Mutual, the group found, which charged a whopping 19 percent more to renters, which worked out to more than $300 a year. Continue reading