Millennials in their early 20s tend to be risker drivers thanprevious generations at the same point in their lives, according toa new report from credit reporting agency TransUnion.

Related: Millennials are not the enemy. Here'swhy

The “TransUnion Insurance Millennial Study” examinedTransUnion's proprietary driving history records, distracteddriving information and vehicle history information and found:

• The frequency of violations is highest for millennials and hasbeen increasing over time.
• Millennials receive the most distracted driving violations ofany generation and the rate of increase is 1.8 times higher thanGeneration X and 2.4 times higher than boomers.
• Millennials average more driving miles than any othergeneration (13,725 miles annually), which is 3 percent higher thanGen X and 8 percent higher than boomers.
• Millennials have the highest percentage of higher riskvehicles.
• Millennials have the highest percentage of only havingliability coverage (37 percent).

Wisdom with age

However, the study also found that as millennials reach theirearly 30s, they perform as well — if not better — than GenX drivers of the same age. Additionally, fewer millennials havecollections as a percentage of credit active consumers compared toGen X, says TransUnion.

“On a percentage basis, [millennials] tend to get into moreaccidents and receive a higher propensity of vehicle citations,”said Mark McElroy, executive vice president of TransUnion'sinsurance business unit. “As millennials grow older, many consumersin this generation become good risks for insurance carriers who canbenefit from long-lasting relationships with this influentialgroup.”

The number of auto insurance quotes a millennial shopperobtains per year — 2.25 quotes — has been higher than the overallpopulation average. (Photo: Shutterstock)

Brand loyalty low

Unfortunately, building long-lasting relationships withmillennials may not be easy for insurers. Millennials know how to shop around, and don'tvalue brand loyalty when it comes to insurance companies.

Related: What millennials want from insuranceagents

According to the study, over the last five years, the number ofauto insurance quotes a millennial shopper obtains per year — 2.25quotes — has been higher than the overall population average. Thestudy also found retention rates in this same timeframe show thatmillennials remain with carriers far less often than priorgenerations, says TransUnion. Their retention rates are sevenpercentage points lower than Gen X and 16 percentage points lowerthan baby boomers.

See more facts about millennial insurance customers in theinfographic below, or visit “TransUnion Insurance Millennial Study” todownload the full report.

Related: Thinking millennial: How to woo the largestgeneration

(Click image to enlarge.)