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Michigan Auto Insurance Disputing use of Credit Score |
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 Auto insurers in the state of Michigan currently can legally use a consumers
credit score to base auto insurance rates; however, Democrats are working with
the states insurance regulator to order refunds for those who were overcharged
due to their credit score rating and to pass bills putting a stop to
credit-based premiums.Detroit, Michigan is a state with among the highest auto insurance rates in the United States. High rates leads to an overwhelmingly high amount of uninsured drivers currently said to be about 60 percent. This is said to be due to the high rates, consumers simply cannot afford them. Marc Corriveau, which is one of the bill’s sponsors, stated that consumers who have been overcharged by their auto insurance carriers have a right to a refund. Commonly referred to as “credit scoring”, the use of a consumers credit score to determine rates is being disputed by many in the state of Michigan. The Auto Insurance Commissioner along with its supporters are doing what they can to put a stop to the “unfair overcharging” of consumers’ auto insurance rates. The credit scoring issue was banned in 2005 by Judge James H. Fisher and then contested by multiple insurers and protesters. View more on the Michigan’s auto insurance credit scoring in the Michigan Department of Insurance website. Some states do not use credit history in order to base auto insurance rates. It is said to be unfair and irrelevant to use the credit scoring to base rates. Factors such as driver details and history, vehicle information and residence information would be more along the lines of fair auto insurance rating. OnlineAutoInsurance.com helps you get a free auto insurance quotes in the state of Michigan: |
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