Do you see a connection between home ownership and car insurance premiums? Probably not, but a new study finds that not owning a home can cost you financially tenants are disadvantaged.
The tenants pay $ 112 more per year for car insurance. Is that right? https://t.co/wUhPQFRGlJ pic.twitter.com/KqgPHkIR7k
- Realtor.com (@realtordotcom) February 10, 2016
Consumers who rent houses and have their own pay 7 percent on average, more for the annual car insurance premiums despite a stellar manipulation of history, Consumer Federation of citation analysis bonus of America said.
The difference in price in some markets is highly dependent on the type of insurance, the study found. Insurance premium rates for car renters in Louisville, Kentucky., An average of 13 percent more than the owner, while an insurance company in this market, Farmers Insurance, found a rate that was 47 percent higher, the New York Times. This brings us down the national figures of $ 112 a year and $ 77 more in the valley.
"To meet the people in the car insurance, because they can not afford to buy their homes unjustly discriminates against low-income drivers", Robert J. Hunter, CFA Director and Representative said the insurance former Texas insurance.
"A good driver is a good driver when they rent or own your home. Insurance are people not allowed to be objective based on the condition of real estate."
The analysis was carried out using a number of factors by working to premiums and auto insurance objects to the use of non-conductive criteria, including academic and credit scores. The federal government argues that the practice is unfair because the minimum auto insurance is mandatory in most states in the US
What happens at a rate of car insurance in the determination? https://t.co/bNkTEDsO5v pic.twitter.com/DTUHjwceVG
- FEBRUARY Insurance Online (@ihcom) 8 2016
"The people will be charged extra just be bad," said Douglas Heller, a consumer advocate who helped carry out the analysis.
Insurance Austin-based comparison of car platform online, Zebra, founded by Adam Lyon and contractor Josh Dziabiak series in 2012 will help the consumers to compare transparent budget between insurers receive and understand how rates are determined by the Company previously reported Inquisitr.
"Zebra provides customers fill real-time quotes only a simple online form that asks the age of the driver, include the credit score and driving. Since the company is not a pure play insurance agency, there is no incentive to the results to an insurance company or another. Since nearly 50 percent of US consumers comparison shop for car insurance to tend every year, Zebra is a bet that people prefer to compare insurance quotes on a platform, rather than 15 minutes collection of contributions of each potential insurers to spend them. "
Known as the auto insurance kayak, the company's first consumer offering to compare car insurance quotes in what amounts to a dream, the opaque market of $ 220 billion. Zebra has an additional $ 17 million increase in its Series A financing round, including Mark Cuban as an investor.
Similarly, car insurance, the cost of the policy to all of more than $ 100 raised in a space of a year, risks, says AA Insurance. The laws relating to traffic accidents cost more if the owners are involved in an accident due to the cost of a lawyer accident setting fines on conviction, and the cost of repair. However, the change of tenants and owners of car insurance premiums provided is the same.
However, incidents police vehicles in accidents declined in the United States .. police vehicles are specially from the state law exempts designed owners to keep the blank for the negligence of those who drive their vehicles Automotive, said the Appellate Division, First Department.
The collapse of the insurance provider and analyzed all risks covers the average cost of a policy insurance of cars in the last quarter of 2015, and found that even those who will shop around average £ pay 625.70 to 105.64 £ compared to the last three months of the year, 2014.
Widespread owners, the discounts is obtained, the main cause was to pay for the tenant for auto insurance more. "Price of insurance, including discounts, strict actuarial standards subject and regulations of the State to ensure that all rating factors associated with the law in accordance" said David Snyder, vice president of the dead American Insurance Association in a statement.
At the national level, says insurance is car insurance customers provides self-protection, regardless of residence status. "We reward loyal members both your car and home to ensure our companies offer additional discounts that reflect their best performance of the allegations," the company said in a statement.
The analysis was conducted in 10 major metropolitan areas of consumer groups, including State Farm, Geico, Allstate, Progressive, Farmers, Liberty Mutual, and nationwide. The analysis was typical motorist premiums for women over 30 years as a subject, which has a record 2005 Honda Civic and perfect ride. The only thing that has changed, if the driver owns or rents a house.
Farmers Insurance is the one who put 47 percent more for tenants to owners, wildest gap into account. For tenants in Chicago Tenants were offered bonuses of 11 percent among owners of Allstate.
Similarly, large cost carry gaps that were by tenants in Louisville and Tampa, while the differences in Portland and Chicago were lower. Zebra attempts to fill this gap. The company shipped 3.5 million car insurance quotes in 2015 claiming that the driver keeps an average of $ 368 per year.
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