[mathprof]

I guess this explains the "good news" about my auto insurance savings when I switched to GEICO last year (I have a PhD).

[arizonarachel]

It's the law of large numbers, people! Every insurance company uses these rating factors, no matter what they say. If the actuaries find that people with Bachelor's degrees get into less accidents and get less tickets than someone with a high school education - guess what?!? They're getting lower rates. That's life. (I'm an insurance sales agent for one of the biggest companies in the world, so yes, I know what I'm talking about!)

[January24th]

Heh. Wouldn't that include your "good student" discount, State Farm, Allstate policyholders with teenagers?

[Spiff]

Why should low risk drivers subsidize the insurance of high risk drivers?

[TChris]

Are there solid claim rate statistics to back up the tie-in to education and job? Either way, you can always change insurers.

[fedupjohn]

My simple answer. It's a free country, don't buy it then. How stupid can these flippin' people be. JEEZ

[aShepard]

...."Under Geico's guidelines, he said, a New Orleans factory worker without a high school education would pay $2,636 for insurance, 91 percent more the $1,382 that a white-collar worker with a graduate degree would pay for the same vehicle and location.


"......

But the NOLA factory worker without a high school education automobile, probably sat under water for a few weeks,

while the white collar graduate degree policyholder drove out of town with his family early.

[Shooter1001]

OI free pie and chips.

Who wouldn't want free pie and chips?

Same place as the free gov't cheese???

[newnhdad]

How come I'm not surprised that this originated in New Orleans?
Why is an insurance company's method of assessing risk now a legal issue? If you don't like Geico, go to another company. Nobody is holding a gun to your head and forcing you to use them.

WTF??

[bondjamesbond]

Apparently there are discernable characteristics about a driver that are not based on race that predict the risk of loss. If a certain driver has a lower risk of loss, isn't it unfair to prevent him from getting insurance at a lower rate? Isn't it unfair to lump him in with other people who will have a much higher loss rate and drive his insurance rates up?

[Final Authority]

I save about $1000 a year with GEICO. My wife over the years has had two claims and were settled very fairly by GEICO as well. We both have graduate degrees and have had no accidents attributed to our negligence, and we live in NH, so with two late model cars, two adult drivers and one teenage girl. the total premium is a bit over $1200 a year.

Yea, I want to subsidize the stupid, the indolent, the reckless, the poor, and pay more, because why?

[tutstar]

ping