For years, financial institutions have relied on credit-scoring to determine whether to make a home loan, car loan or provide a credit card to an applicant and what rate to charge. Auto insurers such as State Farm, USAA and Hartford Financial Services Group routinely use a driver's credit score when calculating rates. Milton Strawhand, vice president of the Savage & McPherson Insurance Agency Inc. in Chesapeake, said some of his customers have become annoyed when told that an insurer will use their credit score as part of the rate-making process.....
We are unable to display this entire news item because this article's licensing expires after a certain amount of time. This article was originally published by Virginian - Pilot and it may be available at their website. Sorry for the inconvenience.
Car Insurance News: Auto Insurers' Use of Credit Scores Criticized...Get an auto insurance quote!