Insurance companies set our premium rates according to our credit report. Many of these reports are inaccurate or not updated.
Our insurance premium rates should be based on our driving record and that alone. I have perfect credit, but that may not be
what my record shows. It simply is not right that many of us are
paying much more than we should be because of this set up
the insurance companies have. Why should they get away with
this. We the people are taken advantage of enough as it is. Let me know what you think & what we might be able to do about it. We in questions and answers may be able to do some good for everyone by using this tool we are given by Yahoo.
2006-07-18 02:53:40 · 4 answers · asked by Bethany 7 in Local Businesses ➔ United States ➔ Other - US Local Businesses
I know for a fact that Progressive has a class action law suit filed against them for this. Some people have had their insurance cancelled due to their credit reports and others see their policies increase every year due to this as well.
2006-07-18 02:59:11 · answer #1 · answered by nite_raideress 4 · 4⤊ 0⤋
I think they should go by driving record alone. Then if driving record is bad, then they can pull a credit report and set the rates as they wish. I have bad credit due to a bankruptcy in 98 and a few bumps along the way, but I have a clean driving record. I see no correlation between the two.
2006-07-18 09:58:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋
This is interesting because back when I had bad credit, I paid less. Now that I have an excellent credit rating, I'm paying twice as much! Go figure.
2006-07-18 16:45:29 · answer #3 · answered by Angie P. 6 · 0⤊ 0⤋
I did know that. Thanks for the points.
2006-07-18 09:57:48 · answer #4 · answered by Cols 3 · 0⤊ 0⤋