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Almost Half of Americans Incorrectly Believe Income Affects Pricing
SAN FRANCISCO, May 7, 2014 /PRNewswire/ -- Almost half of Americans (43%) incorrectly believe their income affects how much they pay for car insurance, according to a new insuranceQuotes.com report.
Another factor that does not typically affect car insurance rates is employment status. However, only 36% of Americans know this.
Car insurance providers do consider these factors (along with some others) when setting rates:
"Drivers can control most of these factors," according to Laura Adams, senior analyst at insuranceQuotes.com. "In addition to maintaining a good driving record and credit history, drivers should consider all available discounts, including pay-as-you-drive programs. And they should compare rates from at least three carriers annually."
The survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:
PSRAI obtained telephone interviews with a nationally representative sample of adults living in the continental United States. Interviews were conducted by landline and cell phone in English and Spanish by Princeton Data Source in April 2014. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.5 percentage points.
insuranceQuotes.com provides consumers with a free, easy way to shop for and compare insurance quotes online, and delivers information about auto, home, health and life insurance and other types of insurance.
insuranceQuotes.com is part of Bankrate Insurance. Other Bankrate Insurance companies include NetQuote.com and InsureMe.com.
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Public Relations Manager, Bankrate, Inc.
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