Auto Insurance East Jefferson Texas TX
Reader’s Question:
I find credit scoring as a way to determine my auto insurance premium rates quite discriminatory and if there is anything I do about this.
Tony
East Jefferson, Texas TX
Government studies in Texas have found that insurance scoring has a disparate impact on young people, the poor, and racial minorities. Many of these proprietary formulae count the use of ‘alternative financing’ against you. Young people, the poor, and racial minorities are more likely to use alternative financing, insurance scoring disproportionately affects them, pushing consumer advocates to fight these scoring models in court.
No one really knows if insurance companies will continue using these scoring formulas once the legal dust settles, but in the meantime be happy that you never run out of options. In fact, you can always shop around for many auto insurance companies out there in East Jefferson, Texas who want to close a sale from you. Not every car insurance company in Texas TX uses credit information in the same way. In fact, you could save hundreds of dollars each year by finding the insurer in East Jefferson, Texas who views your credit history most favorably.
On an interesting note, a recent Consumer Reports study found that a customer with a neutral insurance credit score had identical premiums with two companies. After altering his credit information, his premiums went up by 29% with Company A, but a staggering 47 % with Company B!
You probably don’t know if you are with a Company B right now. The only way that you can find out for your benefit is to get multiple quotes online until you find the best car insurance rates will surface in your favor. This site allows you to do that so feel free to get free quotes at no obligation at all!
Tags: auto insurance, car insurance, auto insurance application
