GeneralEngines, charging stations, EV, electric vehicles



Black Georgians pay more to sit in that horrible traffic.





Black Georgia drivers can be pay up to 25% more in car insurance depends on zip code, according to a study by ValuePenguin.


The study looked at insurance costs for most black and white neighborhoods. The analysis indicates that the higher the percentage of black people in a given zip code, the higher the insurance premium.


“In areas where Black residents make up at least 50% of the population, annual auto insurance premiums average $3,929. That compares to $3,537 for all zip codes in Georgia – an 11.1% difference. In areas with 70% or more black residents, inequality rises to 25.1%.”


Other variables taken into account when determining the price of an insurance premium include the expected annual mileage, the make, model and year of the vehicle, and whether or not the vehicle will be used for work purposes. Yet the proof overwhelmingly suggests electric vehicles, ownership in predominantly white neighborhoods, will produce the cheapest results.


The average premiums for five vehicle types were analyzed in three different categories: zip codes with 50% or more black people, zip codes with 70% or more black people, and the average premium for each zip code in the state. The Toyota Rav4 is the most expensive vehicle to insure overall: 16.4% more expensive to insure in a neighborhood with 50% or more Black residents and 33.9% more expensive in a neighborhood with 70% or more Black residents.


The Tesla Model Y Long Range was the cheapest vehicle, but it still was 14% more expensive to insure in a neighborhood that is 50% or more black populated, and 29.5% more expensive in a neighborhood that is 70% or more black populated.


As insurance companies continue to dictate the parameters for premium calculations, Black people need to look at options. Finding cheaper insurance or driving fuel-efficient vehicles so they can benefit from lower premiums and taxes.


According to the study, Farm Bureau and Farmers Insurance were the cheapest insurance companies for black neighborhoods in Georgia. The premiums are still much higher in other neighborhoodsbut even a small percentage drop means one cent less is spent.


Electric vehicles are fuel efficient and the state of Georgia is offering tax incentives, including the elimination of the Ad-Valorem tax that is typically charged upon a vehicle’s annual registration. Electric vehicles can also save money on gasoline, a way to offset the “black tax” associated with insurance.


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