A recent Consumer Reports article highlights the need for Insurers to become more transparent as to how they arrive at insurance quotes. 

According to the article, insurance companies judge you based on your socio-economic factors more than your driving  habits.    Insurance companies are very secretive on how they arrive at insurance quotes.  Their quotes come from very complex formulas.  This results in a large price disparity between companies for the same coverage.

The article then rates how the big five insurance companies stack up for male and female drivers.

The results are as follows:

Allstate charges an average of $1570.00 for coverage.

Progressive charges an average of $1,414.00 for the same coverage.

GEICO charges an average of $1,177.00 for the same coverage.

State Farm charges an average of $1,147 for the same insurance coverage.

USAA charges the least amount, $817, for the same  insurance coverage.

There is no logic or rational for the large disparity in quotes for the same coverage.   Consumers should demand transparency in Insurance pricing formulas, so they can make educated decisions when choosing an Auto Insurer.

If you have questions about insurance coverage issues or you were injured and have a dispute with an insurance company, call Jeremiah Ross at 503.224.1658.  As a Portland Oregon Personal Injury Attorney and Consumer Attorney, he can assist you in your battle against the Insurance Companies.

Please remember this post is for informational purposes only .  It does  not constitute legal advice or create an Attorney Client relationship.