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The results were somewhat surprising, although there were differences across the five insurers. Farmers, GEICO and Progressive always gave a higher quote to the safer driver than the woman who’d caused an accident. Across all 12 cities in the study, State Farm offered the lowest or second lowest premiums.
“State insurance regulators should require auto insurers to explain why they believe factors such as education and income are better predictors of losses than are at-fault accidents,” said J. Robert Hunter, CFA’s director of insurance and former Texas insurance commissioner.
“Policymakers should ask why auto insurers are permitted to discriminate on the basis of nondriving-related factors such as occupation or education,” he added.
Odd, because my insurance company never inquired about my educational background or are aware of any changes over the past 15 years concerning my current employment status, salary or position.
Odd, because my insurance company never inquired about my educational background or are aware of any changes over the past 15 years concerning my current employment status, salary or position.
Same here. Then again, insurance varies state to state.
I cannot imagine a stated income or educational level means beans to an insurer when they have the FICO in front of them. The article is BS and contrived to the desired conslusion that the wealthy are favored for insurance rate.
This is completely off topic. But have any of you ever been driving and suddenly a driver cut you off, or almost hit someone else, and you notice their ratty old, rusted out, badly dented car, that's filthy inside and out, with the seats piled high with trash? Everything I just described, is why they drive a crappy car, they are simply reaping what they sowed in life. That filthy, garbage-strewn car and their bad driving habits are just reflections of who they are inside. They are poor, driving a crap car, because they are crappy, filthy people just like their car.
You can now return to your normal TV programing...
Go overseas and don't pay your mortgage for 3 months because you're not living in the house ......oops! Lis Pendens filed and house going to foreclosure!
No wonder your credit has been in the tank for 10 years .... you are clueless as to how credit scores work because you are fiscally irresponsible!
Let me just add, while your REGISTERED vehicle is sitting in the garage, it is still being protected by your insurance (assuming you didn't let it lapse). So if there is a fire, some nitwit crashes into your garage, a vandal breaks in, etc ...... I'm pretty sure you would file a claim when you returned from your overseas jaunt.
Um no, since I never had comprehensive coverage on that car (it was ten years old), fire, vandalism, etc were never an issue. All I had was the statutory minimum coverage for driving the car. When that car died, I got a second car and insured it while continuing to insure the first car in case it later became drivable (which it did). Ultimately I switched the coverage from the second car to the (now working again) first car and let the second car lapse. Perhaps it was irresponsible to insure both cars when only one was drivable
That's not why my credit was in the tank, it went in the tank because I had an abrupt total loss of income and was unable to work for a year. Where is the fiscal irresponsibility? I was fiscally responsible as long as I was able to work and earn income. Did I suddenly become irresponsible when I lost all my income?
This is completely off topic. But have any of you ever been driving and suddenly a driver cut you off, or almost hit someone else, and you notice their ratty old, rusted out, badly dented car, that's filthy inside and out, with the seats piled high with trash? Everything I just described, is why they drive a crappy car, they are simply reaping what they sowed in life. That filthy, garbage-strewn car and their bad driving habits are just reflections of who they are inside. They are poor, driving a crap car, because they are crappy, filthy people just like their car.
You can now return to your normal TV programing...
Then they should pay more for car insurance for having a poor driving record and claims history. This example is about paying more for car insurance for things other than driving record and claims history.
Lapsed policyholder are likely to have driven a car without insurance.
What does that have to do with the current risk profile of the policyholder? A person who is likely to have driven a car without insurance is currently a greater claim risk than a person who is not likely to have driven a car without insurance?
Location: Just transplanted to FL from the N GA mountains
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Quote:
Originally Posted by freemkt
That's not why my credit was in the tank, it went in the tank because I had an abrupt total loss of income and was unable to work for a year. Where is the fiscal irresponsibility? I was fiscally responsible as long as I was able to work and earn income. Did I suddenly become irresponsible when I lost all my income?
In and of itself, loss of income does not mean you became irresponsible. However; when you fail to use the tools available to you to explain to your creditors WHY you quit paying your bills that does indeed become irresponsibility. As you've been told here, (and a quick google search would have told you) a letter attached to your credit report, or calling your creditors and working out alternative payment plans would have gone a long way to help yourself. Silence and avoiding the collection calls does more damage than actually facing up to the problems. If the credit bureau and the creditor's don't know what is going on, the only conclusion they can come up with is that you were irresponsible.
In and of itself, loss of income does not mean you became irresponsible. However; when you fail to use the tools available to you to explain to your creditors WHY you quit paying your bills that does indeed become irresponsibility. As you've been told here, (and a quick google search would have told you) a letter attached to your credit report, or calling your creditors and working out alternative payment plans would have gone a long way to help yourself. Silence and avoiding the collection calls does more damage than actually facing up to the problems. If the credit bureau and the creditor's don't know what is going on, the only conclusion they can come up with is that you were irresponsible.
I was in the hospital. I did not walk into the hospital, and I entered the hospital with nothing except the clothes I was wearing. I never returned home to retrieve anything, because I was unable to climb stairs for quite a while. My family flew me out to stay with them until I got back on my feet and some (but not all) of my belongings were shipped out to me.
So I have no idea how I was to explain anything and did not even have access to Google. With no income, no alternative payment plan was possible. As I never received any phone calls or mail, it's not as if I was ignoring them.
If a debt gets rebought - that doesn't start the entire debt over again. What starts the time periods (and therefore the timeframe in which particular debts such as credit card debts "expire") over again is if you make a payment. The payment to a new company that now "owns" the debt is considered agreement on your part that you owe THAT COMPANY the debt.
To clarify when I said the process starts all over again I meant the phone calls and the letters.
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When a debt scavenger company buys a debt (or claims to have bought a debt) that you supposedly owe, DO NOT AGREE TO PAY THEM A PENNY. If you really believe that you owe the debt, contact the company that the original debt was with and see if they have indeed sold that debt - and then determine whether or not you believe you truly do owe it, or that the debt has not in fact "expired." For instance, in the state of Texas, credit card debt expires after four years of non payment. In other words, the credit card company has four years from a payment you make originally to collect the debt.
Correct but that doesn't prevent a company from buying it ten years down the road and sending you a letter and calling you.
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Here's what happened to me: A few years ago a scavenger debt company called me and told me that I had defaulted on a credit card amount of about $3000 ten years earlier. For starters, I had no idea what they were talking about. I think I would have REMEMBERED defaulting on a credit card! So I was already suspicious. I could not get credible, believable info out of them about the original debt - and they wanted to set up a payment plan RIGHT NOW. They clearly had my credit info in front of them, because they knew where I lived, what lines of credit I had currently, etc. This freaked me out a little. I started doing some research and found out that even if I DID default on a credit card ten years previous (which I don't think I did), since it had been over four years since I had made a payment, that debt was "expired" and though I could VOLUNTARILY pay off an old debt like that, no company in the world could threaten me with a judgment or legal action to collect that debt. I mean, they COULD threaten me, but they would never win the case.
It's a scum bag industry... LOL
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So - I sent them a certified letter telling them this and telling them to never contact me again. And it worked.
AFAIK they can contact you again through the mail again however they buy this debt for pennies on the dollar, if someone takes the time to send them a letter they know they aren't going to collect from that person so they scratch you off the list of people to contact.
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