Move back home with Mom and Dad, and your auto insurance could get more expensive

Returning home to live with your parents might not be as big a as you think — at least when it comes to auto insurance.

Millennials who are pay up to 73 percent more for auto insurance than people their age who own a home, according to new research from auto insurance comparison site Compare. Those so-called “boomerang kids” are shelling out an average $1,750 per year on premiums, versus averages of $1,205 for those who own a single family home and $1,009 for those who own a condo.

Compare‘s research came from data the company gathered on 2.3 million American drivers who used the site to obtain auto insurance quotes.

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