From Time Moneyland
We appreciate your business. And as thanks for being a loyal customer all these years, we’re going to overcharge you.
Auto insurers and other service providers don’t say this explicitly, of course. But that’s the message sent via the rates they charge different customers
Credit to this FW thread
for this find. One of the FW members made a good point about this being a kind of lazy tax. Those who are lazy and don't spend the time to shop for the best rates subsidize those who do take the time and shop around.
A similar issue exists for bank accounts. If you want the best rates, you can't be lazy.