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Auto insurance assistance for Low Income Families in Texas

There are a variety of elements that will affect one’s insurance rates, such as education, credit history, income, etc. And the situation is typical in Texas. The Consumer of Federation of America (CFA) submitted a report stating that it is costing lower income earning families more to buy auto insurance.

Other researches have shown that the following elements would affect one’s auto insurance rates in Texas:TexasCarInsurance

•           Your annual mileage

•           The make of your car

•           Your address i.e. area of residence

•           Your age

•           Your gender

•           Your credit rating

•           Your education.

All these would affect your insurance policy rate. Unfortunately, most of the lower income families have little knowledge of these factors, and as a result, may end up blindly paying higher auto insurance rates.

The research found out that, although it is not legally proper for auto insurance companies in Texas to ask questions about one’s income, they will use other factors such as your living situation, credit history, education level, etc, to determine your policy rates. This at times would result in people who are already not making much to pay even more for auto insurance. The study also shows that, people who don’t own their homes will pay more than home owners.

Stephen Brobeck, CFA executive director, said there had been tons of academic research done and they clearly show that the access to a car will dramatically improve one’s financial opportunities. But for lower income people, it is so expensive to get mandatory coverage. It often will cost over a thousand dollars for people who live in urban areas and it’s hard for them to own a car.

It is suggested by the study that insurance providers shall mainly base the policy rates by how far and how often their policy holder drives. They also suggested that the amount of liability insurance cost shall be lowered for low income households who are mandated to buy auto insurance.

For all the facts listed above, we have to start improve the current situation for lower income families in Texas. A simple solution for starters would be to take a few minutes to enter your zip above you can quickly compare Texas cheap insurance companies we match you with, out of the hundreds out there. Get the right policy and rate that meets your needs and walk away with some cash to spare on your low income budget. Enter your ZIP above to try it now. Without such kind of a research before buying auto insurance in Texas, you may end up certainly overpaying to the tune of up to over $800 annually! If you have not obtained independent rates from the insurers we match you with, then you are probably amongst the majority of Americans who are overpaying. Enter your zip above to compare free quotes and see how much you can save.