Most insurance companies today use information in your credit history along with other factors in deciding whether they will offer you coverage and how much you will pay for it.
I believe that credit scoring in insurance is inherently unfair, particularly in today's economy. And I have tried to limit and even ban the practice.
At my request, the Legislature passed a bill limiting the use of credit scores that prevents insurance companies from considering:
*The number of credit inquiries
*Collection accounts identified as medical bills
*The initial purchase or financing of a vehicle or house
*The use of a particular kind of credit, debit or charge card
*Your total available line of credit
If you believe the use of credit scores for insurance is unfair or discriminatory, I strongly recommend that you let your legislators and legislative candidates know.