According to a recent article by www.freep.com, "The controversial practice of using the credit scores of insurance policyholders as a factor in setting auto and home insurance rates may continue, a divided Michigan Supreme Court said Thursday."
"In a 4-3 ruling, the court found that the state's insurance commissioner exceeded her authority in 2005 by attempting to impose a ban on the credit-based scoring."
Many insurance companies present to justify using a customer’s financial history to determine rates is simple. Insurance companies say that customers that can get the best personal loan rates also file fewer claims and cost the company less. By giving a good credit break on insurance rates.
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Jonshan
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