Thursday, September 24, 2009

Leon Young to "Spread the Wealth"

Actually, Young's proposal will spread the pain by penalizing rural and suburban residents.

All other factors being equal, car insurance would cost the same whether you lived in a high-risk area in Milwaukee or a sparsely populated rural town under a proposal in the state Legislature.

...Proponents of the plan to eliminate ZIP codes as a factor in setting rates contend that with mandatory car insurance taking effect next year, insurance should be priced more evenly across the state.

"We're just trying to make it affordable. We want people to comply and go out there and get insurance, and this is one of the barriers," said state Rep. Leon Young (D-Milwaukee).

Even Jim Doyle understands the problem.

In June, when he vetoed the ZIP measure from the state budget, Doyle said the provision would be "disruptive to the market and would increase premiums for policyholders in many locations."

It's not really an issue of the driving record, no matter what the LeftOLeggies say.

It's the real-estate mantra: location, location, location.

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