Bankrupcy increasing car insurance premiums??

  • Thread starter Thread starter Tracy J
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Tracy J

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Someone told me if a person files bankrupcy, their car insurance premiums increase. Is this true and how do insurance companies justify the rate increase?
 
It has to do with being a well rounded, responsible person. Stats show that someone with poor credit is apt to be less responsible in other areas, such as vehicle maintenance, and safe driving is hampered from things like stress, which someone going through a bankruptcy is going to have plenty of, making them a less attentive driver, not to mention a possible suicide attempt in extreme cases.
 
They justify it in saying people with poor credit are poor drivers. It's a load of BS. It's another way that the insurance companies (which force you to buy insurance to begin with) get more money from people.
 
Several insurance companies check your FICO score. They check to see how bad your credit is to see how much risk you are to them. It may not seem fair that some insurance companies do this, but it is reality.
 
Several insurance companies check your FICO score. They check to see how bad your credit is to see how much risk you are to them. It may not seem fair that some insurance companies do this, but it is reality.
 
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