Vote Smart's Synopsis:

Vote to pass a bill that prohibits using education, occupation, homeownership or marital status and credit scores in determining auto insurance.

Highlights:

• Prohibits automobile insurers from assigning risk to a rating plan based on purchaser’s (Sec 15. P.L. 1997, C.151):

• Education level; 

• Employment, trade business, occupation or profession; 

• Employment status;

• Homeownership status; 

• Marital status; or

• Credit score, or any information derived from an insured's credit report.

• Prohibits automobile insurers from using the aforementioned characteristics to calculate a rate or determine a consumer’s eligibility for insurance (Sec. 15.a).

• Establishes a fine of no less than $1000 for every violation of the Act’s provisions (Sec. 15.a).

• Requires that the Act take effect 90 days after enactment (Sec. 15-2).

Full Bill Text