Best Cost Car Insurance

What does a person credit score have to do with rates on car insurance rates?

It should be against the law since everyone must carry car insurance. Also, what does my low credit score got to with my great driving record? Sounds like another reason to raise rates because most credit scores are low across the board. If someone pays their insurance company on time and has a good driving record should be their only concerns. Doesn't that make sense to raise car insurance rates to persons that had a hard time paying a bill, bit made all their car insurance payments on time. If there are others out there mad about this issue please help me do something about this robbing...

Public Comments

1. You can bet that the insurance companies have records on people with low credit scores versus the people with higher credit scores. The higher credit score people may have more responsibility and less accidents. good luck.
2. They have been doing it for years and have shown in court that people with bad credit have more claims. Is it right? Well that can go both ways. Insurance companies want to predict who is going to have claims and make them pay more and reward people who are not going to have claims. They work up very complex equations to help predict this and credit is one little part of it. On the other hand, people that typically have bad credit are young (teenagers have no credit), minorities, and 'poor' people. So are insurance companies discriminating against these groups? Well the insurance industry says that they do not care what the demographics of the groups are. Their statistics show that their equations identify who is going to have an accident (or put in a claim). So... what is the answer. It will take a few years but some states have passed laws that ban the companies from using credit in their equations. In a few years we will see if their new 'equations' work as well as the equations that have credit in them. If they do, then many states will be passing laws to ban credit use. If you do not like it you should make a complaint to your state insurance department. They need to here from you if you think it is wrong to use credit.
3. My personal opinion is one has nothing to do with the other, but somebody figured out that this is another way for insurance companies to rate up drivers and squeeze more out of them.
4. Statistically a person with bad credit will turn in more claims than a person with good credit. Your credit has nothing to do with your age or your income. If you pay your bills on time you will have good credit. Teenagers and older people than do not have any credit are not charged more or less for their insurance. They are charged the base rates and with some companies they actually get a discount because they haven't established credit yet. If you have a low score you need to work on getting it up. Credit is factored into everything, buying a home, renting an apartment, sometimes a job is based on credit, buying a car. Get a copy of your credit report and work on increasing your credit score.
5. No doubt the easiest way to get insurance quotes is on the web. Why would you waste your time on the phone calling around? the last time i needed quotes on insurance i used one of these comparison sites and it was great. this is the site i used and it was quick like less than 5 mins. The last thing I want to do is listen to elevator music while waiting for a salesman. Anyway I got good quotes and ended up saving money so I was happy. So shop around and compare quotes which is easy on the net. Good starting point is at this site. http://insurance.deal4-you.com Good luck.