 Someone who understands insurance please help me!? |
| I worked at a job who had a ppo insurance plan. October 30th I started a new job with a high deductable health savings plan. The plan has a 1,050 deductible, after that everything is paid for. My ... |
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 What is life insurance? |
| Life insurance is suppose to be used as a protection of income. In case you die, your family is protected from devastation of substantial income loss. But, many insurance companies are selling it as ... |
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 I got injured in a wreck...Help!? |
| I had an accident in May 8th of '08. A nigerian pulled out from a parking lot in a small car & hit me then fled the scene. He is a local pharmacist & ownes his own car lot. Police put it ... |
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 LIFE INSURANCE - 5 yr term or 30 yr guaranteed term? Please read extra text before answering! Thank you :)? |
I've been quoted £15 per month for a 5 year term and £20 per month for a guaranteed term over a period of 25 years.
After researching life insurance premiums I've learnt they ... |
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 Health Insurance for getting pregnant? |
I'm thinking of getting pregnant, can anyone tell me what is a good insurance that would cover most of the bills I would have with dr. visits, delivery, etc. I can't afford to pay a lot.
... |
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 Question about Unemployment- will I be denied? |
| I live and work in California. I am currently employed and I have been working there for three years. My husband has been laid off and on through out those three years due to the economy and the ... |
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 Auto Accident Help Please? |
| Tuesday morning i hit an car that ran a light. There was a witness that i had had the green light and i wasnt blamed for the crash. this women had no insurance and no licence. My car is totaled as is ... |
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 I clean houses - how can I get workman's comp insurance? |
| I want to clean houses for a living, but I want to be legit about it. People tell me I should have "workman's comp" insurance. What is that? Where do I get it? How much does it cost?... |
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 The police report says its me fault???? |
| Hi i have a question.. i was involved in a car accident in November 2007.I was driving along a main road.there was a driver ahead of me who indicated to turn onto his driveway.he drove onto the drive,... |
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 What companies that buy term life insurance ? |
| I have a extra term life insurance policy on me and I am wanting to get out of debt and have money too. I have seen some commercials in the passed that buy Insurance policies from people for a part ... |
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 I work per diem and have no insurance. do you know any good insurance that is affordable? |
| I am also a student so I need something that won't break the bank and that I will hopefully be able to use after ... |
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I love screwdrivers! | Why is our car insurance rate based on our credit score? |
It doesn't seem fair to pay higher insurance because our credit is bad! What do you think? |
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Tom Z
 |
Actuarial studies show that how a person manages his or her financial affairs, which is what an insurance score indicates, is a good predictor of insurance claims. Insurance scores are used to help insurers differentiate between lower and higher insurance risks and thus charge a premium equal to the risk they are assuming. Statistically, people who have a poor insurance score are more likely to file a claim.
The goal of every insurance company is to correlate rates for insurance policies as closely as possible with the actual cost of claims. |
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tklutz
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bad credit = irresponsibility. |
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kapn
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If you credit is bad its a sign of irresponsibility.......a clear indicator of risk.......... |
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george 2
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it is because they have evidence that the poorer your credit score the more likely you will get into an accident. |
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BrianW
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I know insurance companies do it.. but to put it mildly, thats all bs. It's like back in the mid 80's, insurance companies wouldn't write florists for disability insurance.. because THEY felt alot of florists were gay, and all would get AIDS or HIV. Personally, I don't think your credit score is an indicator of irresponsibility at all. Wonder how the actuaries will figure in the sub-prime mess? |
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mbrcatz
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Because the data shows that lower credit score is an accurate predictor that there will be more claims, and those claims will also be more severe.
Why do 16 year olds have more claims? Why do people with lower credit scores have more claims? No one has done a study, so no one knows why. The insurance industry doesn't CARE. The point is, the relationship exists, so it's fair.
It's a gripe of mine, that people LIKE discrimination when it works in their favor (like, you don't have to pay the same life insurance rates as a guy who's 80, and you don't have to pay the same car insurance as a kid who's 16), and only complain about it when it works against them.
Discrimination is FAIR, because it lumps like risks together. Otherwise, there would only be one rate, ya know? And I DON'T think you want to pay the same rate as that guy with five DUI's. |
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