Detroit High Car Insurance Rates Will Hurt City?

Detroit High Car Insurance Rates Will Hurt City? 2014-11-23

Detroit is known now as one of the top crime cities in America. It is also known for its poverty that has notoriously damaged the image of this once great city. Will high car insurance rates hurt this city?

The Detroit Free Press has written, “As Detroit prepares to emerge from bankruptcy, its long-term prospects for financial solvency may depend in large part on reversing a decades-long slide in population. But along with the city’s crime rate and local income tax, auto insurance rates that are often double or triple what suburban motorists pay are making it expensive for residents to stay — and discouraging newcomers.”

“It was a real shocker. I was under the impression from my American friends that insurance was inexpensive here,” said Reid, who had been accident-free for more than two decades and later found a $300-per-month deal with a different carrier. “I just didn’t know how we were going to pay it.”