Kenny Online.NET

Focused On Urban Issues, Nightlife, & Kenny Smoov

New Study Shows Black People Pay Up To 70% More For Car Insurance Than Whites

    More precisely, researchers found that when a neighborhood’s racial makeup is at least 75% African-American, car insurance premiums average 70% higher than those quoted for the same driver living someplace where the African-American population is below 25%. For the fictional driver in the study, that means a difference of more than $400 per year ($1,060, compared to $622).

 

    Even at lower concentrations of African-American residents, the average premiums are still significantly more expensive. That same driver would face an average rate of $831 (a 34% difference) if she lived in a community that was between half and three-quarters African-American. The average premium drops to $768 when white residents account for half to three-quarters of the population. That’s still around 24% higher than people pay in predominantly white ZIP codes.

 

    In the densest urban communities — where premiums are typically high because of traffic, crime, and potential for damage — the average premium ($1,797) in predominantly African-American ZIP codes is 60% percent higher than in dense urban areas populated primarily by white residents ($1,126); a difference of more than $600.

 

    The gap isn’t as distinct in rural ZIP codes, where predominantly white communities see an average of $542 for their insurance premiums, 23% less than the $669 average found in predominantly African-American rural areas.

- Consumerist

Views: 80

Comment

You need to be a member of Kenny Online.NET to add comments!

Join Kenny Online.NET

Focused on the Urban Lifestyle, Nightlife, and Issues in Nashville for Adults of "All Ages". We keep you connected!



© 2024   Created by Kenny Smoov.   Powered by

Badges  |  Report an Issue  |  Terms of Service

Your SEO optimized title page contents