I totally agree and this discussion came up in a meeting yesterday. State Farms position is that their independent studies have shown that there is a direct correlation between und score and driving record. Someone in the meeting said, "So if someone has filed bankruptcy, that means that they are probably irresponsible and won't pay their bills, therefore a higher risk for insurance?" The answer was, "that's not what we're saying." But to me, it is implied and that's what I question. A person can have a great driving record, no tics or accs, but could possibly be put in the higher risk group for a year. Is it fair? No. Even the insurance commissioner has questioned this but that is what most insurance companies are going by now in order to protect themselves against high incident losses.
This is a rip off pure and simple.QUOTE]Originally posted by drmgirl6 They may pay higher premiums for awhile, but they won't be denied the insurance. [/QUOTE]
There is no study outside of the Ins.Ind.that supports this claim by insurers. This forces a low risk driver to pay more than his fellow low risk driver.Also it rewards poorer drivers by giving them lower prices for their coverage than a better driver is charged: Is it fair-NO It's fleecing! . It's not about protection=it's about fat cats lining their pockets by bilking the consumer.
lBrown thanks for the info...I KNOW you are not in Atlanta insuring 5 cars for 250 a month!...LOL It may not be the big big big city but we have a lot of traffic and accidents happen ever day. Which is a factor in insurance rates I live in the city so for me to be paying a tad bit over a grand for a new car is great for me. I asked around there are only a few people i know pay like 450 a year for full coverage amd most of them are ooooooooooooold or live in the country. LOL
To clarify, lbrown59, I said "UND score" in my post. Somehow the "und" part was taken out when you quoted me. Also to clarify, I agree with what you're saying. I don't make the rules, I just go by them.
250 a month or 250 for 6 months you would not get that deal here in Atlanta {city limits} This much i do know. For the record where exactly are you? I bet it is not a major city.
We all know how Credit Scoring is putting the screws to us when used to price financial products. What is even worse is using it to price unrelated products such as Insurance. I agree with you on this point-still even if you were in this area you can not be sure you get the best rate if they pull your credit report for quoting.
Thanks for agreeing with me on this. These kind of rules are made to be broken. either that or I don't play the game.
GEORGE: Insurers don't see that either. What they see is the $$$$$$ that they can milk out of the lower scores.
lbrown granted the powers that be are not about fairness it is all about profit. However, the more you know about the systme the more you can use it to your advantage.......can't do that hanging on the edge.
Probably Fair Ike and the 3 stooges trying to snare more victims with their screw the public mentality. FAIR ?? IT's Criminal!!
