CFA Asks Regulators to look at Price Hikes around Adjacent ZIPs and Mitigate Economic and Racial Pricing Discrimination According to Residence
Washington, D.C. – Many good motorists in ten US urban centers tested by customer Federation of America (CFA) are spending way too much for car insurance mainly because of their home ZIP rule, the company reported today. CFA’s research points to significant premium variations in each area among next-door neighbors residing within 100 yards cash central loans locations of each and every other in adjacent ZIP codes, sometimes because close as next door or also across the street. In each city tested, the higher-priced ZIP rule had a lower life expectancy median income and a greater percentage of non-white residents compared to the neighboring, lower-premium ZIP code.
The tested drivers were exactly the same in every way, and the coverage is for the state mandated minimum liability policy except for the address.
As one example associated with the research findings, Figure 1 shows two homes on either part of the Buffalo ZIP rule boundary together with average premiums agreed to a driver that is good each target from five major car insurers. Continue reading Auto Insurers Often Cost Identical Next-door Neighbors Significantly Higher Premiums As A Result Of ZIP Code Distinctions