Letter to use to get insurance to quit using credit reports
Date: Tue, 11/14/2006 - 18:08
I found a letter to send to all legislation and thought I would share it. This way maybe they will listen and do something about the insurance companies using our reports to base our payments.
[quote]Please keep credit information out of insurance!
Dear [Decision Maker],
Our state legislature should pass laws to protect consumers by preventing insurance companies from using credit information to set homeowners and automobile insurance premiums for any individual.
Insurance should be based on an individual's qualifications as a driver and homeowner, not on factors that have no direct relationship to how well one drives or how close one's home is to the nearest fire station. Using credit information for credit purposes is understandable, but insurance is not credit. It's essential for protecting financial stability and it needs to be fairly priced for all consumers.
Consumers need your protection. The state legislature should prohibit insurance companies from using credit information in any manner, to underwrite, cancel, refuse a new risk, or to increase premiums.
Keep insurance accessible and fairly priced for all consumers. Please support legislation to ban insurance companies from considering credit-based information in insurance decisions.
Sincerely,
[Your Name]
[Your Address]
[City, State ZIP][/quote]
[quote]Please keep credit information out of insurance!
Dear [Decision Maker],
Our state legislature should pass laws to protect consumers by preventing insurance companies from using credit information to set homeowners and automobile insurance premiums for any individual.
Insurance should be based on an individual's qualifications as a driver and homeowner, not on factors that have no direct relationship to how well one drives or how close one's home is to the nearest fire station. Using credit information for credit purposes is understandable, but insurance is not credit. It's essential for protecting financial stability and it needs to be fairly priced for all consumers.
Consumers need your protection. The state legislature should prohibit insurance companies from using credit information in any manner, to underwrite, cancel, refuse a new risk, or to increase premiums.
Keep insurance accessible and fairly priced for all consumers. Please support legislation to ban insurance companies from considering credit-based information in insurance decisions.
Sincerely,
[Your Name]
[Your Address]
[City, State ZIP][/quote]
I couldn't agree with you more, Tammy. It's ridiculous that ins
I couldn't agree with you more, Tammy. It's ridiculous that insurance companies can use our credit reports like this. Thanks for the find.
What upsets me about this deal is that people have mistakes on t
What upsets me about this deal is that people have mistakes on their reports they are unaware of and they have to pay the price. What does our credit have to do with getting auto insurance and house insurance?
Exactly. Which should be more important for car insurance - you
Exactly. Which should be more important for car insurance - your credit or what kind of a driver you are? I guess it would balance out, then, if you're a reckless driver as long as your credit is good versus a safe driver, but your credit is not so good. Doesn't make sense to me!