Why Minorities, Immigrants, Working Poor, Unemployed, and Single-Parent Households May Pay More for Insurance – New Guide Explains What to do About it

In the past, studies repeatedly found that minorities such as the African-American, Hispanics, immigrants, disabled people, seniors or veterans, unemployed or even single mothers tend to pay higher car insurance rates for similar vehicles. June 25, 2012

Studies repeatedly find that minorities such as the African-American, Hispanics, immigrants, disabled people, seniors or veterans, unemployed or even single mothers tend to pay higher car insurance rates for the same or similar vehicles. “The situation is alarming and does not seem to improve,” explains Steve, project manager at http://www.carinsurancecalculator.info. “It is sometimes hard to understand why those who already might suffer from financial hardship or even discrimination tend to be disadvantaged when it comes to financial security mechanisms such as insurance. Latino areas for basic coverage, or even the plain unavailability of insurance for certain groups. The very same study cites critics attacking the scoring system as “flawed”, ”socially unwise” and ”unfair” to individuals. The study is a mere example of many.

“This is a very interesting and ample field of research, and an important debate” adds Steve, “We felt it would be best to not only summarize these findings in plain English, but also to offer countermeasures and fitting strategies for consumers, whether affected or not, to keep their rates low.”

The new guide issued by CarInsuranceCalculator.info is available free at http://www.carinsurancecalculator.info/490/why-minorities-and-the-poor-pay-more-for-auto-insurance-and-what-to-do-about-it/ and names the main areas which may make LMI vulnerable to higher auto insurance rates. These are in short:

•     Insufficient savings and the need for finance
•     Increased risk of claims
•     Credit scores
•     Demographics, such as location

Steve: “We are somehow talking about poverty traps...The important task is to know the mechanisms and to overcome them; ultimately to join the club of those who are better off. There is no systemic reason why a member of a minority group should not enjoy the same rates as any 'average citizen’. High auto insurance rates should not just be taken as destiny.”

About CarInsuranceCalculator.info
CarInsuranceCalculator.info is a web based comparison site for free auto insurance quotes and consumer information. Started earlier this year based on a set of the most frequent consumer questions regarding car insurance, the website received positive reader feedback for their guides and weekly news. All information is provided by subject matter experts and coordinated by digital publishing experts. The young team aims at becoming the one stop resource for car insurance information and quotes in all states of the US.

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/6/prweb9635932.htm