IL Insurance Committee Encouraged to Eliminate Non-Driving Factors in Auto Insurance Pricing
Fair pricing in auto insurance is critical for all consumers, particularly lower-income consumers, who are often priced based upon socio-economic factors outside of their control rather than how they drive. Being able to safely and affordably purchase, maintain and insure a car is necessary for many lower-income people to get to the best job for which they are qualified. In testimony before the Illinois Insurance Committee, Tom Feltner, Director of Financial Services at Consumer Federation of America, spoke in favor of SB2208 and other efforts to lower the cost of auto insurance for lower-income good drivers by prohibiting the use of socio-economic factors to set auto insurance prices.
Our Subject Matter Experts
Related Articles
Oklahoma Has a Major Homeowners Insurance Crisis. The Next Insurance Commissioner Can Help Change That
Consumer Federation of America Urges California Legislators to Oppose Harmful Auto Insurance Telematics Bill
New Analysis: Homeowners Insurance Companies Earn Millions in Interest and Investment Income with Every Day of Claim Delay
Claim Payment Delays Are the Largest Source of Complaints to State Insurance Departments
Redlined
The Persistence of Racial Inequality in the Cost of Homeowners Insurance