How do you feel about insurance companies pulling your credit report?

Answers:4   |   LastUpdateAt:2012-09-22 21:15:03  

Question
Monica
Asked at 2012-05-09 09:53:30
I live in a state of Michigan, where is the right to have insurance . I have also been denied insurance by a large insurance company determined on the basis of my credit score. I just do not think you should be able to pull your credit report if required by state law to carry . Hey, if I cancel payment .
Answer1JoyceAnswered at 2012-05-12 12:10:35
It is the height of injustice.

The sparkling private insurance companies should be avoided.
Answer2TaylorAnswered at 2012-05-31 18:09:16
How do you feel about insurance companies pulling your credit report?
I live in a state of Michigan, where is the right to have insurance . I have also been denied insurance by a large insurance company determined on the basis of my credit score. I just do not think you should be able to pull your credit report if required by state law to carry . Hey, if I cancel payment .
Answer3toriannaAnswered at 2012-06-21 11:26:05
Same way I feel about them pulling my driving record.

Both are private information, and both are shown to be an accurate indicator of potential future loss .

You are not required by law to have insurance , only people who want to drive on public roads are required to have insurance. There are ways to avoid having auto insurance - like , do not own a car and not drive.

Sure, it's convenient. But you are complaining because they were denied on the basis of low credit score - the next guy claims he was denied based on your driving record .

It is not foot the bill - it is to predict future losses. And people with credit scores under 550 are about 7x as likely to file a claim that people with scores over 700. Like the guy with two DUI , it is 10 times more likely to suffer an accident at the fault.

Insurance companies in most states have the right to pick and choose the customers are less likely to file claims.
Answer4gawomanAnswered at 2012-09-22 21:15:03
Personally , I think it's a mistake ... What does your credit have to do with how to drive! One thing does not trust me I worked for GEICO ! It's just another way to make you pay more if you have bad credit !
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