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Insurance Companies charging premiums on average 30-percent higher in zip codes

It could save you a bundle, no matter your zip code.To read the full investigation from Consumer Reports, CLICK HERE.
If you haven’t competitively shopped your auto insurance policy in a few years, do it now.
“it certainly raises questions about what’s going on nationally,” said Angwin. The Illinois Department of Insurance called the methodology “incomplete” and says it “does not tolerate discrimination.”
“Learning that our community might be targeted for higher insurance rates than the risk is a reason for people to be angry,” said driver, Pernell Cox.But the Insurance Information Institute, a trade group representing many insurers, disputes the findings, saying: “Insurance companies do not discriminate on the basis of race.
Car insurance premiums should be color-blind, but a new investigation reveals drivers in some minority areas are paying significantly more.This first-of-its-kind investigation found some of the biggest insurance companies charging premiums on average 30-percent higher in zip codes where most residents are minorities.

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referring to Liberty Mutual, the parent company of Safeco, says it was “committed to competitively priced car insurance options.
“And the California Department of Insurance criticized the approach by Consumer Reports and ProPublica.
Pernell Cox lives in the affluent, predominantly African American neighborhood of View Park in Los Angeles.Yet a Consumer Reports and ProPublica investigation found that a safe driver in View Park pays 13 percent more on average than one who lives in a white neighborhood of comparable risk.
“Learning that our community might be targeted for higher insurance rates than the risk is a reason for people to be angry,” Cox said.And the price disparity based on ZIP codes is not just happening in California.
Three other states – Missouri, Texas and Illinois – also provided data used in the investigation.Otis Nash has lived in the mostly African American neighborhood of East Garfield Park in Chicago for his entire life.

referring to

How to save a fortune by buying flights, car insurance and rail tickets at the right time

car insurance

TRAIN TICKETS There’s not much point waiting to buy train tickets – the earlier you buy, the less expensive it is likely to be.
The cost of things like flights, train tickets and even buying a car can vary hugely depending on when you choose to do it.
You might think that it doesn’t make too much difference when you buy standard items like car insurance.
CAR INSURANCE Around 23% of consumers wait until the day of renewal to shop around for a new policy, figures show.
We’ve had a look at when the optimum time is to buy various items – and you could end up saving a fortune.

collected by :Olivia Mathio

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