“Auto Insurance Rates Climb Faster Than Inflation”

In a recent report “The State of Auto Insurance in 2018”, the company claims to have found many reasons why some people pay more than others, particularly low-income drivers who can afford the most expensive insurance the least.

Using Big Data and complex formulas to calculate risk, it appears things like credit ratings and education level are having bearings on what someone pays for auto insurance over a driving record consumer advocates say. “We feel that auto insurers have made rampant use of Big Data without adequate scrutiny from the state insurance regulators,” said Chuck Bell, programs director for Consumers Union.

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