Thursday, February 26, 2015
GEICO Caught Red-Handed Discriminating Against Low Income Drivers
People who have a good driving record should be able to get good car insurance, right? So, why is GEICO discriminating against low-income people by not offering them low rates to choose from?
GEICO discriminating against the poor
By law, insurance companies are required to offer all coverage options, including minimum coverage insurance with low premiums. But in the state of California, GEICO has been caught in the act of discriminating against low-income customers by withholding this option. But why?
Discrimination and stereotyping
It boils down to discrimination and stereotyping the poor. Even if they are good drivers, people who have requested quotes online have been discriminated against if they are single, don't have a college degree, are currently uninsured, or are unemployed or not working an a job that is considered professional.
GEICO has apparently been offering these people higher rates with higher premiums. This is stereotyping as well as discriminating against the poor.
What is ironic about all this is that the company is owned by Warren Buffet, who owns Geico's parent company Berkshire Hathaway. Buffett is an open supporter of low-income working families. Wonder if Mr. Buffet knows....
Read more by visiting http://money.cnn.com/2015/02/13/pf/insurance/geico-discriminating/