Insure.com has released the results of its annual survey ranking the most and least expensive vehicles to cover, and has found that the least expensive model for 2012 is the Toyota Sienna LE. At the other end of the spectrum, the 2012 Audi R8 Syder Quattro, a convertible V10 two-seater, stood at the top of the list of the most expensive vehicles to cover with auto insurance. The annual list provided by Insure.com is a national average of the insurance premiums paid for auto coverage by drivers of over 900…
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Study suggests that auto insurance may be too expensive for low income drivers.
A new study from the Consumer Federation of America (CFA), a consumer advocacy group, suggests that auto insurance is too expensive for the poorest Americans to afford. CFA claims that this is to bias seen in the insurance industry despite the fact that insurers cannot base prices solely on a person’s income. In most states, however, insurers can use socio-economic information to price policies, which directly correlates to income. This could be a major problem in states in which auto insurance is mandatory for all drivers. The study shows that,…
Read MoreThe difference your vehicle makes to your auto insurance premiums
The type of vehicle you own and wish to insure plays a significant role among the various considerations that are used to calculate the rates that you will be quoted. There are many items that are factored into a rate calculation for car insurance, many of which have to do with the specific type of vehicle you are trying to insure, including the value or price of the vehicle, its popularity, the frequency of its theft, how much it costs to repair and even the way the drivers of those…
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