Home / car insurance / Six Illinois insurers charged rates 30 percent higher

Six Illinois insurers charged rates 30 percent higher

In California, where insurers are regulated more tightly, eight companies were charging significantly higher rates in minority zip codes.
Six Illinois insurers charged rates 30 percent higher in minority zip codes.
In Missouri and Texas, more than half of the insurers charged rates that were at least 10 percent higher in minority areas.
The group’s chief actuary, James Lynch, said the analysis in the report doesn’t account for other factors that can affect insurance rates.
The report says 33 of the 34 insurance companies analyzed in Illinois charged rates that were at least 10 percent higher in zip codes where a majority of the residents are minorities.

Car insurance

referring to Car insurance rates much higher in minority areas: reportA ProPublica and Consumer Reports study concluded 33 of the 34 insurance companies analyzed in Illinois charged rates that were at least 10 percent higher in ZIP codes where a majority of the residents are minorities.
The group’s chief actuary, James Lynch, said the analysis in the report doesn’t account for other factors that can affect insurance rates.
In California, where insurers are regulated more tightly, eight companies were charging significantly higher rates in minority zip codes.
Six Illinois insurers charged rates 30 percent higher in minority zip codes.
In Missouri and Texas, more than half of the insurers charged rates that were at least 10 percent higher in minority areas.

referring to

Report: Car insurance rates much higher in minority areas

car insurance

The Insurance Information Institute trade group hired an independent expert to review the data the report is based on.
The group’s chief actuary, James Lynch, says ProPublica’s analysis doesn’t account for other factors that can affect insurance rates.
A new report suggests that people living in urban minority neighborhoods could be paying as much as 30 percent more for car insurance, but an industry group says the report’s findings are flawed.
Nonprofit investigative news organization ProPublica and Consumer Reports published an analysis Wednesday based on insurance data in California, Illinois, Missouri and Texas detailing insurance claims payments by zip code.
Those were the only states where regulators had the data available.

collected by :Olivia Mathio
car insurance

About automotive

Avatar for automotive

Check Also

picture.jpg

The car insurance loophole that could cost you thousands

William’s insurance company then asked further questions – including who was in the car at …