Issue categories:
September 01, 2014
•
1 min read
High Price of Mandatory Auto Insurance for Lower Income Households
For most Americans, access to the best job for which one is qualified requires ownership of a car. As a result, car ownership among low- and moderate-income (LMI) households is high. According to a 2001 government survey, 65 percent of low-income households – those in the first income quintile – and 86 percent of moderate-income households – those in the second income quintile – own a car. Recent government data on household gas consumption confirms that large majorities of LMI households drive a car, with 72.7 percent and 89.5 percent of households in the first quintile and second income quintiles, respectively, spending money on gas.
Our Subject Matter Experts
Related Articles
October 20, 2026
/ Press Releases
Top Ten Insurance CEOs Earned Over $155 Million in Compensation in 2025, While Consumers Struggled to Pay Premiums
October 20, 2026
/ Blogs
Insurance Companies Claim They Have to Hike Consumers’ Premiums. Their CEO Compensation, Dividends, and Advertising Costs Tell a Different Story
October 16, 2026
/ Press Releases
Tips for Consumers to Get Fair Treatment from Insurance Companies After Hurricane Isaias
October 05, 2026
/ Testimony & Comments