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"Many consumers are unhappy that car insurers use their credit histories in setting premium rates. Now an alternative is in sight—and some might like it even less. Insurers would be able to track how, when and where they drive."
Why are our credit scores being used to determine our auto insurance rates?
Better not brake too hard, your insurance will go up!
Will people really be this stupid to let companies engage in such a MASSIVE invasion of privacy?
You're going to need to show me the law on that one - and I'm going to venture that people would have to sign a legally-binding contract to go forward with it.
So this just sounds like illiteracy on the law to me.
"Since late summer, car insurer Allstate Corp. has been talking to state regulators about helping to lead an industrywide effort to transition in the coming years from sizing up risk in applicants with factors including credit scores to largely using telematics to determine rates, the company and regulators said."
That doesn't sound like it's legal to me. But, now they want to force EVERYONE into it. Scary times we live in...
Progressive has had that snapshot device you plug into your OBD port for years. I've never signed up for it because my rates are cheap enough as it is with Progressive, but supposedly you can get a discount for using it.
First it was the onboard black boxes that recorded vehicle events. I knew where it was in my Chevy pickup - right under the console - and knew if I was in an accident to remove it before the police showed up.
Quote:
Well Sam, the evidence shows that not only did you not hit the brakes when you plowed into your ex-wife but you were actually accelerating!"
Now the circuits are distributed throughout the vehicles and who knows where it's actually stored.
I'm sure future vehicles will have this type of monitoring circuitry built in and well hidden. Insurance companies will have standard clauses that allows access to the data. Big Brother is watching.
"Many consumers are unhappy that car insurers use their credit histories in setting premium rates. Now an alternative is in sight—and some might like it even less. Insurers would be able to track how, when and where they drive."
Why are our credit scores being used to determine our auto insurance rates?
Better not brake too hard, your insurance will go up!
Will people really be this stupid to let companies engage in such a MASSIVE invasion of privacy?
What’s wrong with reduced rates for responsible people? I’m all for it. When you show you can consistently pay your bills your more likely to do other responsible things that cost money like maintain your tires. They’re looking to reduce rates for better drivers. Good for them.
What’s wrong with reduced rates for responsible people? I’m all for it. When you show you can consistently pay your bills your more likely to do other responsible things that cost money like maintain your tires. They’re looking to reduce rates for better drivers. Good for them.
They will get you for anything you do wrong. Take off too fast they got ya. They would love it when i did WOT burst over 140mph in my Vettes brette.
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