insurance credit scoring
Why is our type of auto insurance based on our credit score?
It seems fair to pay more secure because our credit is bad! What do you think?
Actuarial studies show that how a person handles their financial affairs, which is a score indicating insurance is a good predictor of insurance claims. Secure Results are used to help insurers differentiate between lower risks and higher insurance and so both charge a premium equal to the risk they are assuming. Statistically, people who have a poor insurance score are more likely to file a claim. The goal of any insurance company is to correlate the types of insurance policies as closely as possible to the actual cost of claims.
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