The social giant collects much more information than that, which results in at least 600 targeting options including household income, level of education, home type, home value, home ownership status, household composition, parents of children with specific
ages, newly engaged couples, new
vehicle buyers, expats, a variety of buyer
profiles, people who frequently buy online, frequent travelers, and much more.
The result of the study, conducted by getting quotes for hypothetical drivers with similar
profiles, revealed, among other things, that if you have a low educational attainment and / or low income, you will be charged more for insurance, even if
age,
vehicle and driving records are the same as someone with a higher education and income.
Auto insurance companies determine risk
profiles for drivers based on a number of factors, including
vehicle type, driving record, claims history, and
age.