According to a recent article from WSAV-TV, a study conducted by the Consumer Federation of America showed surprising things factoring into the amount of one’s car insurance rates. They include a person’s education, job, sex, marital status, and, possibly most prominently, income. As implied by the study, oftentimes, a poorer but safe driver’s car insurance rates and premiums were higher than those of a richer but unsafe driver.
This study was held in 12 major American cities and involved the five biggest auto insurance companies. In many of the cases taken into account, the car insurance rates of a less-educated apartment renter with a better driving record were higher than those of a degree-holding home owner with more unsafe incidents. As stated by Bob Hunter of the Consumer Federation of America, the companies seemed to take everything into account except for the two drivers’ records.
What does this say about these companies and their car insurance rates? Are the companies intentionally discriminating for their own nefarious purposes or has this attitude become inherently built into these corporations by society? Whatever the case, what can be done about it? It is very hard to say, but the state of car insurance rates is at stake. This is a matter that should be investigated further.