Do Car Insurance Companies Look at Your Income?

A new and recent study has shown that driver income in particular is often used by auto insurance companies in order to calculate rates in particular. In more detail to this aspect alone the Consumer Federation of America has recently tested some premiums that are offered by five of the nations largest insurers. Some more detail to this aspect was that it took place in ten different cities for two different drivers that had different backgrounds as well as records. This organization in particular has found that some upper income drivers often pay less concerning this aspect. The study also found that seventy percent of tests where comparison was possible found that a moderate income driver with a perfect record was charged more for basic liability insurance as compared to a high income driver with a DUI conviction.

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Do Car Insurance Companies Look at Your Income?

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