For the one out of four adults over 25 years old, graduating from college is a opportunity to earn more money and start a career. But if you can’t afford college, or you don’t have a high paying occupation, you may be surprised to learn that you likely pay much more for car insurance, even if you are a safe driver.
“Regardless if you’re the safest driver in the world, our competitors, the Geicos of the world, the progressives of the world will actually base your rates whether not you graduated from college, got your masters or work at a high paying job,” CURE Auto Insurance Chief Operating Officer Eric Poe said.
CURE Auto Insurance’s Chief Operating Officer Eric Poe says this is a practice now being adopted by the car insurance industry that they don’t want us to know and is something that simply discriminates against safe drivers who didn’t have the opportunity to go to college and or secure a high paying job because they want to insure higher income drivers as they are more profitable to them. The difference in rates could be 40% or more! And because CURE Auto Insurance doesn’t use these methods to rate or underwrite, he is fighting to change that. Poe says it’s simply unfair and a matter of public policy that needs to be established.
A Pennsylvania lawmaker has taken the first step.
“Representative Di Luca sponsored a bill to actually ban the use of education and occupation so that they can’t ask those questions and they can’t base rates and underwrite upon it,” Poe said.
Meanwhile CURE Auto Insurance is also working to find a sponsor in the Nation’s Capitol. Poe says Congress could pass a bill that affects all states and could make insurance companies base rates off factors like safety, the price of your car, your driving age and your driving history. CURE Auto Insurance says they’ve always stuck to those types of principles.
“We’re not a publicly traded company. One of the things that we have the luxury of making decisions we think are best for the public as well as our organization and how we are portrayed in the consumers eyes,” Poe said.