2007-02-28 07:02:32 · 5 answers · asked by billhdrk 1 in Politics & Government ➔ Law & Ethics
I do beleive that the insurance is going way to far by pulling credit check to price your driving.
But big business, insurance, buys the people that make the laws to allow it.
2007-03-03 22:48:02 · answer #1 · answered by allen w 7 · 0⤊ 0⤋
It's legal. Here is the reasoning behind this:
Insurance companies do various studies. One of them compared accident/violation rates of people with good credit to people with bad credit. The result indicated that (on the average) people with bad credit had more accidents/violations. So they felt it prudent to charge that class (bad credit) more for insurance.
2007-02-28 15:25:51 · answer #2 · answered by Wyoming Rider 6 · 0⤊ 0⤋
It is legal, however quite unfair. In one way I can see their reasoning, people who don't pay their bills could be seen as careless, driving like maniacs, however some people may have circumstances beyond their control then they are grouped in with the rest
2007-02-28 15:09:12 · answer #3 · answered by byron_ancel 1 · 1⤊ 0⤋
I hate the insurance companies. You pay them more to protect your car than what your car is worth.
2007-02-28 15:06:53 · answer #4 · answered by Lady A 3 · 0⤊ 1⤋
Credit history is a measure of how well one handles responsibility so.... yes, they can use it to determine your rate.
2007-02-28 15:06:48 · answer #5 · answered by bandit 6 · 1⤊ 0⤋