Rashida Talib want auto insurance companies to not be allowed to check credit scores

[Edgetho]

Tlaib bill would prohibit use of credit scores to set car insurance rates

She’s almost as bad as AOC and Omar

I agree with her on this. It's completely irrelevant. Several years back I had fallen into some excessive debt due to some circumstances out of my control and when my home insurance was due to renew they wanted to raise my rates because my "insurance score" had dropped due to my credit score lowering because of the added debt. This was despite the fact I had never made a claim nor was late on a payment. I argued with them back and forth and ultimately cancelled my policy with them and went with someone else who gave me a better rate. They use it as an excuse to rape you of more money.

Sure, because an Insurance Company that does BILLIONS of dollars in premium every year has nothing better to do than to try and hump you for a couple hundred bucks.

I have never seen that happen. But I retired 19 years ago and I only had about 1,000 Property policies in force. So what do I know?

There was something else going on. Not saying it was your fault, but there was something going on.

Maybe they were in a pissing contest with the State, maybe they wanted to cut down their exposure but I've never seen anybody non-renewed based exclusively on their credit.

I've never even heard of it. And I went through the aftermath of Hurricane Andrew. Talk about a mess......

 

[Fort Fun Indiana]

Undoubtedly its true that two people with similar credit scores may not present the same risk of filing a claim.

But the proven best practice is to ,in fact, apply actuarial science, which is what I am describing, contrary to your incorrect claim otherwise. That is what has occured. One may make the argument that this leads to some unfair situatuons. I don't disagree. Algorithms don't have a conscience. And insurance companies dont have the resources to perform psychological analysis of every potential cutomer.

They use it as an excuse to rape you of more money.

False. I don't know how else I can help you understand. It also leads to lower premiums for better qualified customers, whom the company will lose to competitors, if they dont use the same, best practices as their competitors.

 

[Edgetho]

How do insurance companies make money if all they want to do is cancel everybody?

Third-Grader, meet Mr Einstein

 

[Fort Fun Indiana]

Maybe they were in a pissing contest with the State, maybe they wanted to cut down their exposure but I've never seen anybody non-renewed based exclusively on their credit.

Same. Now, certain information on a credit report could lead to a rejection by an underwriter. For instance, a civil judgment for a significant amount from another auto insurance carrier due to fraud or being un- or under-insured at the time of an accident.

Similarly, landlords may reject a potential tenant who has a civil judgment outstanding from a past landlord .

 

[Edgetho]

Maybe they were in a pissing contest with the State, maybe they wanted to cut down their exposure but I've never seen anybody non-renewed based exclusively on their credit.

Same. Now, certain information on a credit report could lead to a rejection by an underwriter. For instance, a civil judgment for a significant amount from another auto insurance carrier due to fraud or being un- or under-insured at the time of an accident.

Similarly, landlords may reject a potential tenant who has a civil judgment outstanding from a past landlord .

True, but something has to trigger what we call an 'Underwriter Review'.

Underwriters don't have the time to look at every single policy the Company has in force. In fact, nobody even physically looks at Policies anymore unless it's coded. It's all done by computer and something has to trigger it.

Once the policy is UR coded it goes to an Underwriter who then reviews and makes a decision. Most of the time, in favor of the Insured.

They really don't want to have a pissed-off Agent on their hands. And, believe me, the last guy they wanted to deal with was me.

 

[Fort Fun Indiana]

True, but something has to trigger what we call an 'Underwriter Review'

True, which occurs at time of purchase or when there is any change in the policy. I just got reviewed again when I added my son and his car to my policy.

 

[Thinker101]

Yea, a check stub does not indicate your ability to pay. Good that at least you read the OP.

Neither does a CR, dope.

Yet a CR indicates your willingness to pay...dumbass.

Yet a CR indicates your willingness to pay...dumbass.

No.
Soliciting a policy from them indicates my willingness to pay, Dope.

Paying my insurance before my electric bill shows my willingness to pay although a creditscore may not reflect that reality.

Really!? When/if you buy a car, do you tell the salesperson that your being there "soliciting" a car indicates a willingness to pay and they shouldn't pull a credit report?

If you are paying cash, why need a credit report?

Auto insurance is a cash sale.

Really? Get back to us when you turn 21.
Why do the insurance companies require a credit check?

 

[Fort Fun Indiana]

Neither does a CR, dope.

Yet a CR indicates your willingness to pay...dumbass.

Yet a CR indicates your willingness to pay...dumbass.

No.
Soliciting a policy from them indicates my willingness to pay, Dope.

Paying my insurance before my electric bill shows my willingness to pay although a creditscore may not reflect that reality.

Really!? When/if you buy a car, do you tell the salesperson that your being there "soliciting" a car indicates a willingness to pay and they shouldn't pull a credit report?

If you are paying cash, why need a credit report?

Auto insurance is a cash sale.

Really? Get back to us when you turn 21.
Why do the insurance companies require a credit check?

And yet you can't seem to put it in your own words, can you? Have you read your own link?

 

[Thinker101]

Yet a CR indicates your willingness to pay...dumbass.

Yet a CR indicates your willingness to pay...dumbass.

No.
Soliciting a policy from them indicates my willingness to pay, Dope.

Paying my insurance before my electric bill shows my willingness to pay although a creditscore may not reflect that reality.

Really!? When/if you buy a car, do you tell the salesperson that your being there "soliciting" a car indicates a willingness to pay and they shouldn't pull a credit report?

If you are paying cash, why need a credit report?

Auto insurance is a cash sale.

Really? Get back to us when you turn 21.
Why do the insurance companies require a credit check?

And yet you can't seem to put it in your own words, can you? Have you read your own link?

I usually don't put much effort into replying to whiney post that don't have a clue.

 

[Aldo Raine]

Tlaib bill would prohibit use of credit scores to set car insurance rates

She’s almost as bad as AOC and Omar

You are ok wh insurance companies knowing credit scores but the presidents taxes are none of the voters business?

Lol, you seriously cannot make this shit up!

 

[Fort Fun Indiana]

No.
Soliciting a policy from them indicates my willingness to pay, Dope.

Paying my insurance before my electric bill shows my willingness to pay although a creditscore may not reflect that reality.

Really!? When/if you buy a car, do you tell the salesperson that your being there "soliciting" a car indicates a willingness to pay and they shouldn't pull a credit report?

If you are paying cash, why need a credit report?

Auto insurance is a cash sale.

Really? Get back to us when you turn 21.
Why do the insurance companies require a credit check?

And yet you can't seem to put it in your own words, can you? Have you read your own link?

I usually don't put much effort into replying to whiney post that don't have a clue.

Just checkin'.

 

[sartre play]

Oh the tales us old folks could tell, back when your word was worth something, and a hand shake could seal a deal, when the bottom line was not just profit but also building good business relationships with people.

 

[Hutch Starskey]

Acts of god are not predictable by my credit score.

Nobody has claimed or has to claim otherwise. So you are arguing against people who do not exist.

What is a fact is that the likelihood that you will make a claim increases as your auto insurance score decreases. It's not a guess. It's a proven fact. So insurance companies smartly take this into account. Again, its not a moral or ethical decision. It's just mathematics.

There is nothing in my credit score that can predict if I file a claim for repairs after a hailstorm, tree falling, someone hitting me in a parking lot or parked on the street.

Undortunately, that is just not accurate, from an analytical standpoint. The statistics show otherwise. The data show a strong correlation between credit profile and risk of both valid claims and adverse action.

Nobody has claimed or has to claim otherwise

Except you, of course.

 

[Fort Fun Indiana]

Except you, of course.

Not once did i claim acts of god are predictable by a credit score. You are mistaken.

 

[edward37]

Except you, of course.

Not once did i claim acts of god are predictable by a credit score. You are mistaken.

Trumps credit score was in the shit house but Deutch Bank still loaned him 3 billion AND that was after he already defaulted on a loan The POS couldn't get a loan from an American bank He inflated his assets and deflated his losses

 

[Polishprince]

Except you, of course.

Not once did i claim acts of god are predictable by a credit score. You are mistaken.

Damages and claims from an act of Almighty God might be predictable however.

A bad credit score might make it more likely for the premium payer to leave the car in an outdoor lot during a bad weather situation.

 

[Fort Fun Indiana]

Except you, of course.

Not once did i claim acts of god are predictable by a credit score. You are mistaken.

Damages and claims from an act of Almighty God might be predictable however.

A bad credit score might make it more likely for the premium payer to leave the car in an outdoor lot during a bad weather situation.

Maybe, but you're thinking much further into it than any insurance company or actuary ever will or has.

 

[Fort Fun Indiana]

Trumps credit score was in the shit house but Deutch Bank still loaned him 3 billion AND that was after he already defaulted on a loan The POS couldn't get a loan from an American bank He inflated his assets and deflated his losses

Right, but that happened chiefly as part of a broader plan to assist in Russian money laundering and to integrate the criminal Russian money they, themselves were laundering.

But that's for a different thread.

 

[Admiral Rockwell Tory]

Tlaib bill would prohibit use of credit scores to set car insurance rates

She’s almost as bad as AOC and Omar

I am with her on this, You could have 5 D.U.I.s , 8 car crashes and have cheaper car insurance then someone with a perfect driving record, with a bad credit score.

Says someone with either a bad driving record or lousy credit score!

I have a perfect driving record the past 34 years fuck face AND A GOOD CREDIT SCORE, ONCE AGAIN ASSHOLE WHAT DOES CREDIT SCORE HAVE TO DO WITH DRIVING A CAR?


You must be a car insurance sales man, it was a fucking scam, for poor people to subsidize crappy ass rich drivers, just like its a scam for poor people to subsidize rich people and their Electric cars

It has to do with your likelihood of filing an insurance claim! I can't pay my car insurance or payment, so I'll run it into a tree, total it and get out from under both! I wonder how many times that has worked? Oh, my car caught on fire when I torched it to get out of the payment!

It is not a scam. The government does not tax you for your car insurance like they do for electric car subsidies.

I don't sell insurance. I work for the United States Army.

 

[Admiral Rockwell Tory]

Whoah there, put on the brakes. Contrary to what people may think, insurance companies actually make an effort for fairness. If they don't, their profits suffer. Because their competitirs will make this effort, and the better qualified customers will get better rates elsewhere. It's just not so cut and dry as you seem to think.

bullshit the car insurance companies are in cahoots with the government, they are the ones who got passed mandatory insurance, God damn if a poor persons car breakdown and he cancels his insurance, they will jack up his rates when he gets insurance again.

all they want is MONEY

Try editing that post so it appears to be English.

what you cant comprehend it fuck face?

You write like a third grader! Grow up, dumbass!

You have knowledge like a fuck face, and lie like a little bitch, you grow up and tell the truth.


The car insurance is a fucking scam to subsidize poor crappy ass drivers like you.

Man, just when I think you cannot be a bigger asshole, you prove me wrong. The last accident I had my daughter was in her car seat. That baby turns 35 in about 6 weeks.