Tag: credit scoring

January 28, 2015

WalletHub study shows one reason why Detroiters pay more: Allstate charges 116% more to consumers with poor credit; Farmers, Progressive & State Farm all charge more If your credit score is poor, it will cost you more. Last week I was interviewed by Bloomberg News on the cost of auto No Fault insurance in cities …

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August 8, 2013

In many states, it is illegal for insurance companies to use your credit scores to determine how much you pay for auto insurance.  But if you are unlucky enough to live in a state where this is legal, and where insurance companies can use credit scoring, then there are some important things you need to …

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July 31, 2012

Limits on ‘insurance credit scoring’ and how you can protect yourself The blog on credit scoring that I previously wrote drew a lot of reader comments.  But the sad reality is that today, thanks to the Republican Michigan Supreme Court, Michigan auto insurance companies use drivers’ credit scores and credit information as factors in determining …

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December 15, 2010

Continuing with my Wednesday tradition of highlighting comments from real readers, this comment comes Nancy, who is upset by the fact that Michigan auto insurance companies are allowed to use a person’s credit report to determine rates for policyholders. Most people don’t realize that responsible people who pay off credit cards are often the most …

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