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Education And Occupation Used To Set Insurance Premiums

Friday, February 1, 2013 - 5:36 AM
From Clark Howard's show notes:
Some auto insurers are now giving level of education and occupation greater weight in setting insurance premiums. That makes shopping multiple insurers at the time of renewal more important than ever.

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3
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
1. Friday, February 1, 2013 - 9:38 AM
Just another way to justify raising rates. We shall see if this practice meets FTC approval. Meanwhile, many U.S. car insurance companies use credit-based insurance scores to help determine risk. (Unless you live in Massachusetts, Hawaii, or California, where the practice has been banned.) And studies have shown that there's good reason to use credit-based scoring in developing rates.

Esurance – Car Insurance Myths: Credit Score Does Not Affect Rate
1
ShorebreakShorebreak2,622 posts since
Apr 6, 2010
Rep Points: 14,215
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