Best Cost Car Insurance

Do you know that many car insurance companies base your rate on your Credit Score>? Should this be legal>?

I just feel that if the State is going to require by law car insurance ,, then your credit should not have anything to do with your rate. Many companies don't even tell you they are running your credit, but they do. This needs to be changed .

Public Comments

1. Yes it should be changed. Not really fair to base INS on that.
2. I'm so glad someone else has a problem with this! How is it fair that those who most likely already have money problems have to pay more than those who don't? It just causes more financial strain thus causing more credit problems and the hole just keeps getting deeper! I am considered a "risk" and have to pay "risk" rates even though I have absolutely nothing on my driving record!!! How many people are out there driving w/o insurance because they just can't afford it?
3. Yes its quite fair. Higher insurance rates should be cahrged to higher RISK individuals. If you have bad credit, it shows that you are CARELESS and that reflects on ALL aspects of your life.
4. Not fair at all. Everyone should have the right to a reasonable price for auto insurance -- I do not see why credit should affect this. Personally, I haven't had any problems, as I have quite good credit -- but I could only imagine if things were otherwise. Hopefully they will change this policy.
5. It is being challenged in some places. Some who used to do credit checks, no longer do them. On the other hand, Why should one with good credit subsidize someone with bad credit? Isn't this subsidizing a perfect example of Socialism?
6. For car insurance the most efficient way to get a fantastic rate is do a rate comparison on car policies. Make sure that you pick similar policies with the same limits, auto model, zip code, etc so that all things are an accurate comparison. What I usually recommend is an online comparison quote at http://www.lowratetoday.com since they have discount insurers and will give several prices on car insurance polices.
7. I agree with you that it shouldn't be legal! But somehow they've used their lobbying force to do that. The real reason that they are doing it has nothing to do with your ability to drive, they are trying to see what the likelihood is that you will pay your insurance bill. But they cover it in other terms. :) You can go with insurance companies that don't check your credit (just check online and ask your insurance agent to only quote those companies). And if you want to show that you disagree with the policy, that would be the best place to start! Just think, if 1000's of people said that we're going to use insurance companies that only look at us and our driving records, how fast do you think that other insurance companies would change their tune? We've done that in our family, so there are 7 cars that aren't following that route -
8. First off, I have been a claims adjuster for 20+ years. Using a credit report to help determine rates is pure BS. As another poster stated many people with good credit suck at driving. Their the ones who are wealthy and too busy to pay attention while driving. A site I've recommended in the past would be... http://www.safelinked.info/go.php?link=insurance Hope that helps.