Insurance in Wa

[Wayne]

Well I just got my new homeowners insurance premium, well they warned me but I was still not prepared for it. It went up 400.00 a year. This was because the state insurance commissioner banned the use of credit scores to rate premiums and put more cost on minority's premiums, so I guess I get to pay 400.00 more so some guy that does not pay his bills can get his for 400.00 less. God I just love socialism. Can't wait for my auto to renew.

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[Alexx1401]

Well I just got my new homeowners insurance premium, well they warned me but I was still not prepared for it. It went up 400.00 a year. This was because the state insurance commissioner banned the use of credit scores to rate premiums and put more cost on minority's premiums, so I guess I get to pay 400.00 more so some guy that does not pay his bills can get his for 400.00 less. God I just love socialism. Can't wait for my auto to renew.

This is another of those things that everyone knew would result from this. We will see if next election anything changes or if those who are angry still vote for the same people who shafted them yet again.

 

[tdawg]

It's not just people who are irresponsible who get shafted. The insurance industry uses credit scores as a way to discriminate against younger drivers that haven't had time to build up credit too.
IMO credit shouldn't come into play unless you have unpaid bills at which point they could tell that without using a credit score.

 

[albin25]

The stupidity of it is, those dead-beat's (and young hi-risk-no credit history) insurance premiums probably didn't decrease either....
.... premiums probably went up for them too (and, there's still no incentive to get them to pay their debts)

The massive increase in break-ins, auto thefts and vandalism of course had nothing to do with it

 

[Alexx1401]

The stupidity of it is, those dead-beat's insurance premiums didn't decrease....
.... it probably went up too (and, there's still no incentive to get them to pay their debts)

The massive increase in auto theft and vandalism of course had nothing to do with it

YEP! People who do not want to be responsible want everyone else to pay for them to live irresponsibly. Why not. Living for "fun" and taking no responsibility is much more fun that being responsible for what you do, working, getting schooling and such. Why work at making your life better when you can just demand others pay for you.
Boss had a guy interview for a job while back. Guy looked to be excellent with one problem. He barely had a license. He had so many points he was at the point of not being able to drive from all the moving violations. Guy broke down in tears saying he was having such a hard time finding a better paying job and just did not know what to do. I said well one thing that might be a good start is paying attention to the law. Well that's of course no fun.

 

[arakboss]

For those who are fans of "scores" to determine your risk to society. Be careful what you wish for.

Coming soon: America’s own social credit system

The same issue with government censorship exists with corporate censorship: If there is a line, who draws it?

www.google.com

Regarding credit scores, people shouldn't have to participate in the debt merry go round to get a decent rate on insurance.

 

[Alexx1401]

For those who are fans of "scores" to determine your risk to society. Be careful what you wish for.

Coming soon: America’s own social credit system

The same issue with government censorship exists with corporate censorship: If there is a line, who draws it?

www.google.com

Regarding credit scores, people shouldn't have to participate in the debt merry go round to get a decent rate on insurance.

You do NOT have to have debt to keep a good credit score. The Social Credit Score thing being pushed by those who want top down government has zero to do with credit scores and being responsible. For a long time personal responsibility has been a "bad thing". Many are now offended when told they need to take responsibility for the choices they make in life. Makes sense. Why make good choices in life and work hard? Its far more fun to just live free and wild and tell others to pay for your "needs".

 

[rupey7]

Insurance companies are the winners here, they use their lobbyist army to create laws that affect their own bottom lines. It should go back to your own personal history pertaining to claims, not credit score. BTW my score is excellent so no agenda here in my comment / opinion.

 

[arakboss]

You do NOT have to have debt to keep a good credit score. The Social Credit Score thing being pushed by those who want top down government has zero to do with credit scores and being responsible. For a long time personal responsibility has been a "bad thing". Many are now offended when told they need to take responsibility for the choices they make in life. Makes sense. Why make good choices in life and work hard? Its far more fun to just live free and wild and tell others to pay for your "needs".

Both scenarios are related in that they both percieve a risk based on a score.

Edit: I would be surprised if you could have an excellent credit score if you haven't taken out loans.