Posted On: April 19, 2006, 11:53 am CDT

Posted By: Scoobys

Sure you think it is great. Hey, I think it is great because credit scoring gave me a better rate too. However, I also was able to avoid filing a claim because I could afford to fix some minor hail damage myself. I can also have a higher deductible because I can afford to pay the higher deductible if I have a loss.

What about the individuals that struggle to pay their bills, cannot self fund any damages, and cannot afford higher deductibles? Just because someone struggles does not mean they are not god risks.

Imagine this scenario... an indiviudal self-funds a bumper replacement when they run into the garage door. Two months later, they back into a light pole. The person again buys a new bumper. No claims are filed but this is not a person that is paying enough attention to how they drive. Six months later the same person causes a major accident and injures three people. They are not a good risk but instead of three claims, they only show one.

Why should they receive lower rates just because they can afford to pay bills on time and self-pay minor damages? I don't think the credit score models take into consideration personal economics and how it influences the incident of claims correlation.