Do African Americans Pay More for Florida Homeowners Insurance Coverage?

Living in an all-black neighborhood can be a challenge. Especially to your Florida homeowners insurance rates. According to recent studies, homeowners that are located in a heavily African American populated zip code will pay more for their home coverage than a similar homeowner that lives in an all-white neighborhood. These higher rates are given no matter what your claim record, population, or income looks like. Even the companies will never ask you to identify your race, every carrier bases risk off locations.

Do African Americans pay more for coverage?

Averagely, based on current studies African American communities are receiving quoted premiums that are over 75% percent higher than similar owners in an all-white community. Here are the hard facts as to why African Americans pay more for their FL homeowners insurance coverage according to https://floridainsurancequotes.net/florida-homeowners-insurance/.

Crime Rates

Home insurance companies in Florida will be sure to take a look at how dangerous the area you live in is. As expected, the more dangerous the area the higher the rates you will receive. This is due to dangerous neighborhoods having a higher rate of theft, vandalism, and even fraud. Unfortunately, these factors are all found in neighborhoods with a higher African American population.

Your Credit Score

Your credit score is a huge determining factor that can affect your Florida home insurance rates. Credit problems greatly affect African Americans. African Americans are known to have much lower credit scores than whites.

Marriage

It’s no secret that married couples will pay cheaper rates on their homeowners than married people. Married people are considered to be more stable. Once you are married you are combining your policy with your spouse. However, recent studies have shown that African Americans are more likely to not get married or even stay married.

While the studies may show that African Americans pay more for their Homeowners insurance in Fl. You must look at the bigger picture here. All insurance companies will determine your rates by using a number of factors. They cannot determine rates based on your race! It just so happens that these factors are usually poor for African American individuals.

Save Money on Florida Homeowners Insurance

Everyone is eligible to save money on their homeowners coverage. No matter what your race or age is, you too can find the affordable policy you deserve! You can receive nothing but affordable and reliable quotes online at https://floridainsurancequotes.net/florida-homeowners-insurance/. Thousands of customers looking for better deals, collect their quotes online. If you are looking for affordable coverage start shopping and comparing today.