Low Income Families will Pay More for Auto Insurance a New Study Shows!

LOS ANGELES, Sept. 17, 2016 /PRNewswire-iReach/ -- Cheapquotesautoinsurance.com has released a new blog post announcing that low-income families will pay more for auto insurance.

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Agencies put more and more importance on a driver's financial status and social position. An applicant's financial budget has become so important when determining rates, that many good drivers are penalized for having a meagrer income. The trend of overcharging low-income families does not seem to go away.

The newly released article presents a study made by The Consumer Federation of America. The study used hypothetic buyers who were all 30 years old, licensed for 14 years, had no accidents or violations, drove a 2006 Toyota Camry and an annual mileage of 10,000 miles. The same home address was used for each city.

The study found that  that the average premium for drivers of high economic status is $1,144 and for those with low economic status pay $1,825 a year. Having a high school degree and being unmarried have also affected rates and in 90 percent of the cases, these drivers had to pay 20 percent more on their premiums.

The reason many agencies overtax low-income families is purely economical. A low-income client is likelier to claim benefits in case of an accident. Someone with a better financial position may not get the insured agency involved in any accident.

However, overcharging low-income families is unfair and not viable. It also punishes good drivers who have lower chances of causing an accident. Auto insurance prices should be determined solely by a risk of accident, but this is not always the case.

To  avoid overpaying for auto insurance, drivers can compare free car insurance quotes. This will help them find better insurance options. There are many agencies that can provide good coverage at low prices and comparing quotes is the easiest way to discover them.

"The fact that low-income families pay more for auto insurance is outrageous, but there is little we can do. We can only help you find cheaper auto insurance by helping you compare only the best quotes in your area," said Russell Rabichev, Marketing Director of Internet Marketing Company.

Cheapquotesautoinsurance.com   is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to  offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

For more information, please visit http://cheapquotesautoinsurance.com.

Media Contact: Russell Rabichev, Internet Marketing Company, 800.475.3410, [email protected]

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SOURCE Cheapquotesautoinsurance.com