The price of car insurance should be based on how well and how much you drive. Instead, many insurance companies charge higher rates based on non-driving factors that have nothing to do with your ability to drive.
For example, insurers in 47 states are currently allowed to use consumer credit histories to set rates, forcing customers with only good, fair or poor credit to pay substantially more for coverage. And in 30 states, insurance companies can use “big data” about consumer shopping habits, such as your interactions with the insurer or your cable/internet provider. If they think you are less sensitive to price increases, or are unlikely to switch to another company, they may increase the cost of your premium. This is an unfair and predatory practice that must end.
Tell the State Insurance Commissioners to stop allowing companies to use non-driving factors to set rates for auto insurance.
The price of car insurance should be based on how well and how much you drive. Instead, many insurance companies charge higher rates based on non-driving factors that have nothing to do with your ability to drive.
For example, insurers in 47 states are currently allowed to use consumer credit histories to set rates, forcing customers with only good, fair or poor credit to pay substantially more for coverage. And in 30 states, insurance companies can use “big data” about consumer shopping habits, such as your interactions with the insurer or your cable/internet provider. If they think you are less sensitive to price increases, or are unlikely to switch to another company, they may increase the cost of your premium. This is an unfair and predatory practice that must end.
Tell the State Insurance Commissioners to stop allowing companies to use non-driving factors to set rates for auto insurance.