Should we classify people by race to determine car insurance rates?

Question

We do it by age and sex. Why not race? Health insurance companies classify people by race when calculating risk. Is any of this appropriate?

Answer 1

Insurance rates are calculated by age mostly for experience purposes. They are also classified by location,. If you live in a high-risk location, your rates are higher. It also depends on what type of vehicle you use and what you use it for. Sex and race should not come into play in this case, that would be discrimination.

Answer 2

I think classifying people by race would be racist. It serves no purpose in determining risk the way classifying people by the neighborhood they live in.

Classifying them by age and sex helps determine some of the risks. For health insurance, a person's race helps identify certain diseases/conditions predetermined by that particular group.

Answer 3

I think that it is that way. The saying 'Justice is blind' does not have anything to do with buisness. Buisness is NOT blind. If they are offering insurance to an inner city area, they know what kind of neighborhood they are in. They could have an incident report to tell them that accidents are more common - for whatever reason, and the likelyhood that it will affect their profit margin more probable. So they adjust their insurance premium in that area, especially if they have a reason to believe that a certain 'type' of person is 'high risk.'

I'm not saying that it is right, but I have been around, you know.

Answer 4

the fee relies on your driving checklist, your age, your credit status, and this way of motor vehicle. A Toyota %. up will fee extra beneficial than a Nissan Altima working example. Suvs, pay larger costs simply by fact their motor vehicle might reason extra harm than different automobiles. Sporty,swifter,those are words the coverage corporation hates and that they fee you extra simply by fact the motor vehicle ought for use for racing,or the driving force might abuse the means of the motor vehicle. while you're a male below the age of 25, you will pay vast greenbacks, simply by fact information have shown that men in that age crew tend to be extra reckless than the traditional. Married and over 25, costs drop dramatically. An older motor vehicle might reason the fee to be extra lower priced,and you probably ought to hold basically criminal accountability,or the backside volume your state enables, considering which you probably would not have a lienholder. in case you have a lienholder, you're required to hold "finished coverage" for the life of the internal maximum loan. in case you paid extra beneficial than the norm on your motor vehicle and you get in a harm, the coverage corporation will purely pay the trustworthy marketplace fee of the motor vehicle, you would be in charge for the stability on the internal maximum loan despite if the motor vehicle replaced into driveable or no longer.They do sell "hollow" coverage in the experience that your challenge is that this. stable good fortune on your procuring experience, as you will discover, there is alot to contemplate.

Answer 5

Some races are more susceptible to certain disease than others, so that makes sense.

I think there would be a huge outcry if car insurance rates were gauged by race.

Answer 6

No. Absolutely not. It's not appropriate in any forum, so how is the health insurance industry allowed a double standard?

Answer 7

if u are a bad driver doesnt matter if ur black.. white... yellow.. the age is comprehensible cuz of the mature of the driver.. and sex.. because woman tend to be more careful. race not

Answer 8

No, because there are no differences in accidents rates by race, other than what is already accounted for by zip code.

It's also illegal.

Answer 9

no by age we classifier how experienced the driver is. I disagree with the male and female thing.

Answer 10

Insurance should be priced by individual performance, as should everything else.