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Tuesday, August 3 • 9:00am - 10:30am
3D1 The Demand for Automobile Insurance: Evidence from Underserved Areas in California

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Rob Hoyt, University of Georgia; Tommy Stith, Florida State University

Automobile insurance availability is a serious issue for motorists, regulators and the insurance industry. The costs imposed on the system by uninsured motorists are not trivial. In order to minimize these costs it is necessary to understand the factors that lead motorists to drive without insurance. This paper uses data reported to the California Department of Insurance, as well as demographic data collected at the ZIP code level, to analyze the demand for auto insurance in areas that the California Department of Insurance has designated as underserved. The results show that areas – as measured by ZIP codes – that are saddled with high poverty and areas that are predominately urban are more likely to have lower demand for automobile insurance. However, the fact that a certain area is predominately minority does not alone make it more likely to exhibit lower demand for automobile insurance.


Cheng Wan


avatar for Rob Hoyt

Rob Hoyt

Moore Chair and Department Head, University of Georgia
Robert E. Hoyt is the Dudley L. Moore, Jr. Chair and Professor of Risk Management and Insurance in the Terry College of Business at the University of Georgia. He teaches corporate risk management and enterprise risk management and has served as the Department Head for Insurance, Legal... Read More →

Tuesday August 3, 2021 9:00am - 10:30am EDT

Attendees (6)