Tag: credit history

Thinking of Buying a Car? Don’t Forget about the Costs of Insurance and Gas

Guest Author
New Car Insurance

New car buyer insurance information Many people are prepared to haggle over the price of a new car in order to get the best deal possible. However, they often forget about the extra expenses that can add up over the years, which are affected by the type of car they choose. If you are planning on buying a new car, don’t rush into any decisions. Instead, have a sit down about some of the other factors that can affect the running costs of the car over the years, and take…

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Auto insurance takes many non-driving factors into account when calculating premiums

Julie Campbell
usage based insurance auto

Rates are determined by many things, not all of which occur behind the wheel. Auto insurance companies take many different factors into account when they calculate the premiums that will be paid every month by their policyholders, but not all of them have to do with driving. There are many additional elements such as occupation, education, and ZIP codes that can also be included. A consumer group is now taking action against some of these behaviors by asking New York insurance commissioners to limit the ability of insures to apply…

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Auto insurance pricing draws ire of consumer advocacy group

Marc
Auto Insurance Survey

Survey shows consumers believe auto insurance pricing is unfair The Consumer Federation of America, a consumer advocacy group, has released the results of a survey it conducted last week concerning how people feel about their auto insurance coverage. The group suggests that, according to the survey, many consumers feel that they are facing unfair pricing practices concerning their auto insurance coverage. These consumers claim that their policies are being prices based on information concerning their occupation, education level, and marital status. Group finds that certain factors hold significant influence over…

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Department of Justice proposes reform to stop insurers from using credit scores for screening

Julie Campbell

The government of New Brunswick has proposed a number of regulations that may stop car insurance companies from being able to include data relating to an individual’s credit score in order to determine whether or not they will insure them, and what their premiums will be every month. There were a number of draft regulations posted by the Department of Justice on its website for public consultation that would change the guidelines for underwriting by insurers. The consumer advocate for insurance of New Brunswick, Ronald Godin, began his push for…

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How your lifestyle and neighborhood affects your insurance rates

H. Cutner

Insurance companies use different software programs and databases to figure out how risky it will be to insure you.  If you are considered to be too high of a risk, you may have to pay more. In some cases, your application may even be denied. Insurers use an insurance score that FICO determines from your consumer report history.  This score is partially gathered using the data from the major credit reporting companies. Your insurance score is similar to your credit score, but you can’t obtain your insurance score like you…

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