Bad credit? You're probably paying a lot more for auto insurance

📆 8/22/2023 4:41 PM
📰 nbcchicago

⏱ Reading Time:
10 sec. here
2 min. at publisher
📊 Quality Score:
News: 7%
Publisher: 51%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

If you’re a good driver and you have bad credit, you’re paying more for car insurance, according to a new study. That study from the Consumer Federation of America looked into how auto insurers use credit scores to help determine the rates they charge consumers. On average, a driver with a ‘poor to fair’ credit score has to pay twice…

Only three states, Hawaii, Massachusetts, and California, prohibit insurance companies from using credit information in auto insurance pricing.

We reached out to the American Property Casualty Insurance Association- the primary trade organization for insurance companies for comment. They sent us the following statement:

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Aussie grocers to reap upbeat profits on sticky inflation; consumer behaviour keyAustralian supermarkets are set to report stronger full-year earnings as decades-high inflation propped shelf prices, but outlook on consumer behaviour with rising borrowing costs and expenses would be key, according to analysts.
Source: Reuters - 🏆 2. / 97 Read more »