Posted On: February 17, 2006, 3:57 pm CST

Posted By: Sickntired

Haven't we all been complaining that we don't want our rates to go up because OTHER people have all the claims? For years I have heard complaints from the penny-penchers and tight-wads (like my father and grandfather) about how unfair it is that we have to pay for others' claims. The use of the insurance credit score is being used because it has been proven that there is a definite correlation between insurance score and the propensity to sustain a loss. Therefore, it's used to more accurately match price to risk. People who are more likely to cause/sustain a loss should have to pay higher premium. Claims aren't paid with monopoly money.

I think we also need to get real. So some minorities have lower income and lower credit scores. It's not the color of their skin that makes them irresponsible. I know plenty of minorities that know how to keep their finances in order.