Telugu Kathalu(Old Age Home)

Telugu Boothu Kathalu New 2015: Old Age Home

According to the report, there are high variations in insurance rates charged by insurers on vehicle owners; rates are based on factors completely unrelated to driving such as area of residing, education level, occupation and credit score. Such factor-based calculations make it virtually impossible for less-income residents of many states unable to afford insurance coverage. At last estimates, the number of uninsured drivers and vehicles average more than 200,000 in a state like Maryland, for instance.

The report also mentions that insurers establish coverage rates in accordance with state laws and risk factors which vary. For e.g. a city resident will pay more insurance because it is likely that his car is at more risk of being involved in an accident, being vandalized or stolen; in each of these cases claims will be filed with the insurance company.

A CFA Director is on record to say that insurance providers are always on the lookout for 'actuarial links' between potential risk elements and certain types of policy holders. He says that these companies try to price the policies to reflect the potential risk; the auto industry has access to a lot of customer data just as other businesses do in respect of potential customers.

Critics and consumer agencies however counter that most of the policies framed by insurance providers place a great burden on low-income car owners and drivers while giving priority to those with higher incomes. High car insurance premium rates create a huge barrier in vehicle ownership, taking it out of reach for millions of low-income Americans. The issue becomes especially grave when city dwellers struggle to hold a job in the suburbs or vice-versa, as commuting by local transport becomes non-viable due to time and other constraining factors.