Car Insurers Under Fire For Pricing Practices

[David Fermani]

Re: Car Insurers Under Fire For Pricing Practices

I have what I will call "middle-of-the-road" credit because I don't have a lot established, nor for a long period of time, and I now have quite a few student loans on there from attending college. I have never missed paying a bill, ever, payed two cars and a couple of other small loans off on top of that. However, because I don't have a "great" credit score, I'm more at risk for an accident? Maybe they should raise my rates too because I don't have a retirement account set-up. I mean, it makes sense, right?

Doesn't seem like you have "middle of the road credit" to me? Actually better than most unless there's something you're leaving out. You've established yourself as being able to repay your debt on time on multiple occasions. What causes your rates to be higher quite possibly could be your age. Which again, can and is a viable measurement of exposure.

[roushstage2]

Re: Car Insurers Under Fire For Pricing Practices

Doesn't seem like you have "middle of the road credit" to me? Actually better than most unless there's something you're leaving out. You've established yourself as being able to repay your debt on time on multiple occasions. What causes your rates to be higher quite possibly could be your age. Which again, can and is a viable measurement of exposure.

It is not bad. It's simply that I couldn't get a loan by myself if I tried (which I have), because of the two main things I mentioned. These are the two things I have heard over and over when I apply for a loan, so I have to imagine these are the causes. If I can't get a loan, it isn't beneficial to me in any way regardless of if it is good, great...whatever. Having good/great credit, but not being able to use it, is middle of the road to me.

Either way, credit should not have any effect on insurance rates.