Actuarial Lecturer States Truths about Car Insurance

Glen Patashnick can’t say if car accidents are more likely in some cities than others, but the senior lecturer in the Boston University Metropolitan College Department of Actuarial Science can tell you that insurance is more expensive in cities than it is rural areas. He can tell you how credit scores affect policies in some states, why there can be such a wide variance across the country, and who regulates the industry. In a new interview with WalletHub.com, Mr. Patashnick covers these topics and more.

“Insurance is unlike other products services that people purchase instead of buying a thing the consumer is buying a promise and thus has nothing to show for the purchase unless or until they have a claim,” he said.