The rising price of oil and gas, the unemployment rates and the uncertainty of the economy; what do these things have in common? They can all affect the insurance industry and the rates you pay for your auto and homeowners coverage. Actuarial science is a field that uses math and statistics to assess risk in the financial and insurance industries. There is a professional group of people called actuaries that use actuarial science and apply it to property and casualty insurance risks. This group of experts has noticed a connection…
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Recent insurance study reveals who is driving without insurance
InsuranceQuotes.com has released the results of a recent survey they conducted regarding motorists. The company surveyed some 2,366 drivers aged 18 and older from across the nation and found that 16% of them have driven without insurance coverage. Nearly half of those drivers said that they only did so because they were unable to afford insurance coverage, citing the economic hardship as one of the primary factors for them being unable to cope with premiums. An additional .2% of participants admitted to currently having no auto insurance coverage at all.…
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