Why, or how does being poor or having bad credit cause insurance companies to charge more for insurance?
In: Economics
Hang on tight. Statistically people who have bad credit are bad with money. Thus live in lower income communities. Statistically there are more accidents and fraud in more densely populated areas. Also higher frequency of dui and drug problems. And if they didn’t fuck you over enough for all this, there is also a higher probably that you will miss payments and have to pay late fees and worse. And they all work together to make sure rates are high and you have no choice but to pay whatever they want.
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