Actually…it is…
We cannot deny the fact that those with lesser income group are in a disadvantageous position when it comes to automobile insurances. A latest study by the Consumer Federation of America (CFA) underlined the situation and stated the fact that the low and moderate income group (LMI) stands a lesser chance when it comes to getting a good deal in car insurance.
The study talks about the unfair treatment applied to people with lesser income compared to the one offered to those with higher income. An appeal has been presented before the state insurance commissioners in order for them to consider the plight of the low income group people and provide them with a increase in liability coverage and also the right to benefit cheap car insurance.
The request addressed to CFA to come forward with regulations for a better service and affordable insurance rates for the middle to low income groups was, obviously, interpreted as an affront by the most insurance companies. In the same time the insurance agencies claim that they have been practicing only fair and reasonable price politics and their actions were so far fully justifiable especially under the current financial situation.
In spite of that, the people who have only a moderate income to support their daily life will definitely opt for cheaper car insurance programs and the absence of such good programs will create a huge insurance issue based on income.
The low income consumer group put forth the request that we are equal and car insurance quotes should be able to accommodate all of us regardless our social status.
The auto insurance quotes may not be different as income groups are concerned but insurance clauses certainly are, especially because the law conditions the car owners to insurance terms and rates they might not afford.
However …if the law states that we are equally meant to be fined in the absence of a car insurance we should be equally treated with care when offered car insurance rates. In the end we must afford the payments if we are supposed to obey the law. Don’t you agree?