Study: Black Males Pay $800 More than White or Asian Counterparts for Auto Insurance, Mainly Affected by Low Credit Scores & Employment Status

Auto insurance study by 4AutoInsuranceQuote.org finds blacks pay more for auto insurance than other races and black men paid $800 more for auto insurance than whites and Asian men due to lower credit scores, employment issues and living in high risk neighborhoods.

PR Web Press Release: A study by 4AutoInsuranceQuote.org found blacks pay more on average for auto insurance than people of other races. The study found that black men pay on average $800 more than whites or Asians for their auto insurance. It should be noted, insurance companies do not deliberately discriminate against blacks, but place an emphasis on factors blacks score poorly in when making a determination about insurance premiums, the study found.

4AutoInsuranceQuote.org surveyed 600 male Manhattan residents in conducting this study. The results, they said, were shockingly lopsided. "Not only did black people pay the most for car insurance," owner James Shaffer said, "they paid the most by a landslide. It was something that really concerned us, so we had to figure out why."

The data showed that while Asian men paid $1945/year and white men paid $2193/year, black men paid $2910/year on average. When explaining why African-Americans are faced with much higher auto insurance costs, 4AutoInsuranceQuote.org cited the factors that can affect insurance costs, most notably: your credit score, the safety of your neighborhood, whether or not you are married, and your employment status.

One may not be able to control what happens in one's neighborhood, but you can control your credit score. It's time to take credit seriously and not succumb to low credit scores that are a death knell to getting ahead in this country. Read the entire press release: http://www.prweb.com/releases/prweb2011/5/prweb8503917.htm