Your Credit Score Could Effect Your Car Insurance Rates
Apparently this is true in West Virginia. I wouldn't be surprised if this happens elsewhere as well, but no one knows about it. It makes sense though, since people with poor credit scores are late on payments, are probably procrastinators, and are likely higher risks in life in general. Is this fair? Probably not. But is it fair that car insurance rates are high for those who are under 25 that have not had a single accident, and have a credit score above 700? The insurance industry is one that is based on statistics, and generally does not cater to those outliers or exceptions. If they did, it would hurt their bottom lines.
You can read the story here.


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