American insurers charge reckless rich drivers less than safe poor drivers

[Xolodno]

11. The system sucks monkey balls...

...and I know, I work in it.

A good driver is one factor. But, if you are poor then you are statistically more likely to live in an area more prone to theft and vandalism, other uninsured or underinsured drivers which counts against you. Never had a claim? Who cares, the stats say its more likely going to happen to you than the person who did have a claim for second time in a well to do area. The actuarial science is what drives premiums.

And yes, being a homeowner does give you a discount vs. a renter. If you are a renter chances are other renters live near you and in the event one of them is at fault for totaling you car, if they have insurance, it tends to be minimal amounts with limited recovery. If they don't...they have no assets to sue against. So yeah, you get a discount for being an owner because the insurance company can lessen the loss through salvage, lawsuits, etc.

Insurance companies segment like crazy on this, because they want to get the best risk, if not, enough premium to cover the overall losses. Just the way it is.