Study Finds Poor Priced Out of the Car Insurance Market

This often puts poor people in a terrible quandary; in much of the United States, the only way to get to work, school, or the grocery store is to drive, yet the poor cannot afford to drive because of high insurance premiums. A poor person who needs to reach his or her job to buy food and pay the rent may have no choice but to drive without insurance.

“Motor City” has America’s Most Expensive Auto Insurance

That means the average resident of Detroit pays 130% more for car insurance than a driver in the next most expensive region, New York City. New Yorkers paid 36% more than the national average. It also means that a Detroit resident pays 208% more than a person in Charlotte, N.C., which has the nation’s cheapest car insurance. People in Charlotte pay 43% less than the national average.

The Giga Factory is a Go!!

Some other companies could win from the deal, including Mason Graphite Inc. (LLG), a Canadian company that owns a Lithium Mine in Silver Peak, Nev. Seeking Alpha commentator Randy Carson noted that the legislation approved on Sept. 11 requires the state of Nevada to build a direct road connection between the Giga Factory and U.S. Highway 50, which runs past Silver Peak. That’s important because lithium is the main ingredient in Tesla’s batteries.