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Tuesday, July 05, 2011

Why Should Your Credit Rating Set The Bar On Car Insurance Rates?

It should be your driving record, NOT your credit score. That's my opinion, what's yours?
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10 comments:

  1. AnonymousJuly 5, 2011 at 9:28 AM

    I agree, you could have a perfect driving record, with no claims, and becuase of some bad credit choices, they can use it against you to make you pay more. Its a rip off and our law makers should do something about it.

    ReplyDelete
  2. AnonymousJuly 5, 2011 at 9:44 AM

    Whats worse is the fact that jobs will use credit reports to disqualify you from getting hired. So now you have a bigger insurance payment, along with extra borrowing costs, and you can't even get the job that pays more.

    ReplyDelete
  3. AnonymousJuly 5, 2011 at 9:47 AM

    With a history of skipping out on obligations the company runs a risk of having to pay for an accident while being stiffed on monthly payments. Best solution - only buy what you can afford, not what you hope to be able to afford.

    ReplyDelete
  4. AnonymousJuly 5, 2011 at 9:51 AM

    People with bad credit have a much higher likelyhood of comitting insurance fraud. Plain and simple

    ReplyDelete
  5. AnonymousJuly 5, 2011 at 9:55 AM

    The Bankers run the Insurance scams . . . I mean businesses.

    Its not about money (as they print their own) its about power over us.

    Thats why they use the Gestapo's (State Police) records of fines for exceeding the digital speed limits as punishment against us (increased insurance rates).

    Insurance is supposed to be about protecting persons and property. It is not. It is about power over our behaviors.

    ReplyDelete
  6. AnonymousJuly 5, 2011 at 10:14 AM

    if car insurance wasnt mandated, i think it would be ok. unfortunately, since this is a democraticaly controlled state, theyll do anything to make sure they get your money.

    ReplyDelete
  7. AnonymousJuly 5, 2011 at 10:24 AM

    9:47...no payment, no coverage. The insurance company has no risk the way you describe it. That's not only false, it's ridiculous. There is no continued coverage for non-payment in auto insurance.

    ReplyDelete
  8. AnonymousJuly 5, 2011 at 10:31 AM

    I agree. I had a very good credit score until an enexpected death in out family. My insurance rates are 2x those of my friends (with comparable records) and i have never gotten in an accident or gotten a speeding ticket. I have also shopped around and have the cheapest insurance that still provides decent coverage. Premiums kill me though. If my premiums were lower it would free up some money to pay some other debt off and improve my credit rating.

    ReplyDelete
  9. AnonymousJuly 5, 2011 at 10:43 AM

    thanks 10:24 for pointing out the obvious BS. Unlike utilities, insurers are ready to rank your coverage the moment you are late on that payment, which means you have no coverage when you get into your accident.

    ReplyDelete
  10. AnonymousJuly 5, 2011 at 11:24 AM

    10:24, 10:43 - Grace.

    ReplyDelete

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