Insurance industry


Country United States

Insurance industry Reviews

  • Oct 1, 2014

Insurance companies aren't using your record of not turning in claims for determining your rates they are using your credit score. If you don't have or use credit cards your credit score goes down, consequentially your insurance on your house , vehicles even health increases because of your credit score. They call it your insurance score , which is based on if you turn in a claim or get this folks your credit score! A person that has tons of money and turns in several claims, yet has a great credit score has a lower premium than a person who never turned in a claim, pays their premium on time but has a low credit score for various reasons. With today your medical bills being on your credit report this lowers your credit score. You have to have credit cards and use them to maintain a high credit score. So in order to keep your rates low you are forced to use credit. People on fixed income are especially hit. Low credit score high credit card fees reflects lower credit score on and on. Legislators won't stop this because the Insurance Industry Lobby is so strong they have found a way to virtually print money. This is a Billion dollar problem that needs to be Stopped!

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