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Report: Black Americans Pay Over $1,300 More for Auto Insurance
Published:
7/8/2016 1:09:16 PM

4AutoInsuranceQuote.com, a car insurance quote provider based in Manhattan, has just released a thought-provoking report that takes a close and honest look at how much Black Americans pay for auto insurance.

Titled "White Privilege in Auto Insurance," the new report, http://www.4autoinsurancequote.com/blog/white-privilege-auto-insurance/, notes that Black Americans pay over $1,300 more than White Americans for car insurance.

The report includes current research by the Consumer Federation of America that compared auto insurance quotes from the five largest car insurance companies in the U.S.

"What they found was that good drivers in black communities paid more for auto insurance than good drivers in white communities, even when things like income and population density remained the same," the new report noted, adding that in order to compare prices for White and Black neighborhoods, the Consumer Federation created a fake driver profile.

The fictional person was a 30-year old single woman with a "fair" credit rating, a clean record, no policy lapses, a good job and a rental apartment. The "woman" used addresses in both predominantly Black and White neighborhoods to get quotes for basic, state-minimum auto insurance policies.

"The results were sadly as expected. On average, the hypothetical black female was to pay considerably more for auto insurance than the hypothetical white female," the report on 4AutoInsuranceQuote.com noted.

"To be precise, if your neighborhood is 75 percent black or higher, you can expect to pay 70 percent more for auto insurance. According to the study, the fictional white girl would supposedly pay just $622 annually for auto insurance. The fictional black girl would pay $1,060 annually."

When the Consumer Federation compared middle-class White and Black neighborhoods with the same income range, the Black residents paid $2,113 a year on average, compared to $717 per person in the white middle class neighborhoods.

"This difference – over $1300 annually – not only is staggering, it's sad," notes the new report.































SOURCE 4AutoInsuranceQuote.com


 

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