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(EMAILWIRE.COM, February 09, 2012 ) New York, NY - When asked if this was racism, a company spokesperson had this to say. “It appears a first glance that this might be racism. The truth is that insurance companies work on the basis of hard statistics and the truth is that, statistically speaking, African Americans are higher risk drivers. It doesn’t sound particularly nice but unfortunately the statistics don’t lie.”
The study was conducted in Manhattan where 600 people were asked about their auto insurance premiums. The criteria were that the people being included in the study had to be males who only owned one car and who were the only ones listed on their policies. The 600 surveyed were made up equally of Caucasians, African-Americans and Asians. The study was performed in Manhattan.
“It seems that the black community has a few strikes against them when it comes to auto insurance. The auto insurance companies use varying criteria when assessing risk upon placing an auto insurance policy;” the spokesperson said today. “Three of the factors that the car companies use are household credit scores, crime rates in the policyholders neighborhood and credit scores of the policy holders.”
The study points out that African-Americans are 4X more likely than CaucasianÂ’s to commit auto-theft, 84% of African-AmericanÂ’s carry credit card debt (versus 54% of Caucasian households) and that African AmericanÂ’s have the lowest marriage rate of any racial group in the United States. These three factors and more are what contribute to insurance being more expensive for black people.
Auto insurance companies recently are coming under much greater scrutiny and even some lawsuits alleging racial discrimination have been filed.
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Source: EmailWire.com
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