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

[iceberg]

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

She’s almost as bad as AOC and Omar

can you tell me why they need to pull my credit score to buy insurance? i pay for it, i have it. i don't, it goes away.

now i wonder why they do it for cell phones also except usually it means you're getting a phone "on credit" so at least there's that.

 

[iceberg]

Good. What does credit have to do with veing a good or bad driver?

Well fucking duh! Credit scores probably indicate whether or not you will pay your insurance premiums! How did libtards get so libtarded?

then cancel my policy if i don't pay.

 

[WillPower]

So, clearly, you have zero knowledge of this topic and should shut up immediately.

Or what....you going to keep trolling threads I'm trying to educate people in, fool?

 

[Thinker101]

i think credit score information is overused and abused. It is time to put some brakes on it.

Hmmm...sounds like someone is a victim because they don't pay their bills...what a shock.

 

[Fort Fun Indiana]

That has nothing to do with the credit scores.

The math shows that it does. The math shows that a lower auto insurance report score correlates very well with increased risk of both valid claims and of adverse action. It is simply a fact.

Actuarial science isn't about causation. It's about correlation. And if you think you can run a profitable insurance company without the benefit of actuarial science, you are invited to try to do so. You will fail.

 

[Fort Fun Indiana]

you going to keep trolling threads I'm trying to educate people in

But every word you have said in this topic is ass backwards wrong.

 

[Stormy Daniels]

Good. What does credit have to do with veing a good or bad driver?

There's a legitimate reason for a credit check, if the insurer is allowing the policy holder to pay a monthly fee--which is effectively financing the policy. That being said, it doesn't always work that way in every state. If I understand Texas correctly, it's basically considered a renewing monthly policy. But there are other states where you're buying either a 6 or 12 month policy, and paying it off one month at a time with an interest fee (or you can save yourself some money and pay it up front). So, in theory, the financier can reasonably want to identify the risks involved in extending you a line of credit to finance your policy.

That being said, I don't know how this translates in practice. Nowadays credit agencies are deep in the big data hole, attempting to predict every last detail about your potential financial activity. They are generating several specialty "credit scores" that are tailored to different activities. There's one score attempting to predict your likelihood to pay your phone bill, your likelihood of switching carriers, so on and so forth. They even try to predict what bills you will prioritize if you experience financial troubles. So in the future, cell phone service providers may decide to refuse to provide you service if they don't want to deal with someone whose credit history suggests they'll prioritize paying rent over paying the cell phone if they lose their job.

 

[Thinker101]

Good. What does credit have to do with veing a good or bad driver?

Well fucking duh! Credit scores probably indicate whether or not you will pay your insurance premiums! How did libtards get so libtarded?

then cancel my policy if i don't pay.

How about avoid the paperwork if you have a history of not paying....save a tree.

 

[Fort Fun Indiana]

bullshit the car insurance companies are in cahoots with the government,

Nah, that's freakish conspiracy nonsense to which no mind should be paid. Actuarial science decides insurance rates, and underwriters decide who gets insurance. And actuarial science shows that lower auto insurance report scores correlate well with increased risk. That's simply a mathematical fact. Whether or not it is a fact is quite independent of whether or not you like it.

 

[Preacher]

She's right. Same should go for landlords,electric companies etc etc. I get insurance pretty easily but this bullshit with landlords is asinine as hell. If I had better credit I would be buying a house not renting! Electric companies and their 600$ deposits HAH! Not gonna happen. There are ways around it.

 

[Fort Fun Indiana]

can you tell me why they need to pull my credit score to buy insurance?

I can. And have. About 4 times in this thread. And it is not a "hard pull".

 

[WillPower]

.

Should medical records and psychiatric records then be used in case they predictive?

After the crash in 2008, I always thought the credit reporting agencies would allow for the circumstances in our economy but they didn't. So a high 700's score that fell into the low 600's from being out of work for a year didn't mean a damn thing to them. The banks weren't lending to anybody without excellent credit anyway, so the average Joe was screwed. This is why country club Republicans are more scurillous than low-rent commiecrats in my book. Trump is fixing this mess which is why people should pay attention to the regs he's getting rid of....there are as many dealing with predatory lending practices as dealing with the EPA calling your pond a federal waterway. The major cause of bankruptcies in my experience is medical bills....don't do a chapter 7 unless the sheriff is at your door....you're getting 7-10 years of hard-time credit wise if you do. I always thought if a client couldn't do another BR for a number of years, they were a pretty good risk but the banks don't agree.

 

[iceberg]

Good. What does credit have to do with veing a good or bad driver?

Well fucking duh! Credit scores probably indicate whether or not you will pay your insurance premiums! How did libtards get so libtarded?

then cancel my policy if i don't pay.

How about avoid the paperwork if you have a history of not paying....save a tree.

and? is this a hard or soft pull? if a hard pull it can now affect my credit rating.

 

[iceberg]

Good. What does credit have to do with veing a good or bad driver?

There's a legitimate reason for a credit check, if the insurer is allowing the policy holder to pay a monthly fee--which is effectively financing the policy. That being said, it doesn't always work that way in every state. If I understand Texas correctly, it's basically considered a renewing monthly policy. But there are other states where you're buying either a 6 or 12 month policy, and paying it off one month at a time with an interest fee (or you can save yourself some money and pay it up front). So, in theory, the financier can reasonably want to identify the risks involved in extending you a line of credit to finance your policy.

That being said, I don't know how this translates in practice. Nowadays credit agencies are deep in the big data hole, attempting to predict every last detail about your potential financial activity. They are generating several specialty "credit scores" that are tailored to different activities. There's one score attempting to predict your likelihood to pay your phone bill, your likelihood of switching carriers, so on and so forth. They even try to predict what bills you will prioritize if you experience financial troubles. So in the future, cell phone service providers may decide to refuse to provide you service if they don't want to deal with someone whose credit history suggests they'll prioritize paying rent over paying the cell phone if they lose their job.

certainly a whole lot more to consider than just YES | NO - good points.

 

[WillPower]

I left American Family for Auto-Owners....they're every bit the good company without the national advertising rates the customer ends up paying for. I also don't drive Camaros drunk on my ass anymore, although I never did get caught at it.

 

[Votto]

Good. What does credit have to do with veing a good or bad driver?

How do you statists sleep at night?

 

[Fort Fun Indiana]

certainly a whole lot more to consider than just YES | NO - good points.

Except those aren't good points, because they are all 100% wrong. The auto insurance credit reports are not really used to determine your likelihood to pay your premiums. Your premiums are always paid in advance. Like a prepaid phone.

 

[WillPower]

certainly a whole lot more to consider than just YES | NO - good points.

Except those aren't good points, because they are all 100% wrong. The auto insurance credit reports are not really used to determine your likelihood to pay your premiums. Your premiums are always paid in advance. Like a prepaid phone.

Hey troll...knock off the bullshit....you don't have a clue.

 

[Fort Fun Indiana]

certainly a whole lot more to consider than just YES | NO - good points.

Except those aren't good points, because they are all 100% wrong. The auto insurance credit reports are not really used to determine your likelihood to pay your premiums. Your premiums are always paid in advance. Like a prepaid phone.

Hey troll...knock off the bullshit....you don't have a clue.

Sorry will..once again, tou have no idea what you are talking about, and you are throwing a little fit because someone who does has made you look dumb. Maybe next time try not to talk about a topic you have no knowledge of. It might spare your feelings.

 

[Wyatt earp]

bullshit the car insurance companies are in cahoots with the government,

Nah, that's freakish conspiracy nonsense to which no mind should be paid. Actuarial science decides insurance rates, and underwriters decide whobgets insurance. And actuarial science shows that lower auto insurance report scores correlate well with increases risk. That's simply a mathematical fact. Whether or not it is a fact is quite independent of whether or not you like it.

Science my ass fuck head, they are in CAHOOTS with the government, my car insurance should be $5 bucks every 6 months since I have not had a ticket or claim in 30 years.