insurance rate calculations Archives

New federal insurance bill would require racial disparity study in premiums calculations

February 5, 2018February 7, 2018 Logan B.

driver auto pickup truck federal insurance bill

Congressman from California cites ProPublica and consumer reports auto coverage industry analysis. U.S. Rep. Mark Takano (D-CA) introduced a federal insurance bill last week which requires authorities across the country to take a closer look at auto insurance premiums calculations. The bill cites an April 2017 article co-published between Consumer Reports and ProPublica pointing to racial disparities. The auto insurance racial disparity legislation boasted six Democratic co-sponsors. The federal insurance bill was created partially as a reproach to the Trump administration when it sought to alter the Treasury Department’s Federal…

Homeowners insurance rates greatly impacted by credit score

November 21, 2016November 18, 2016 Nordstrom

Many consumers are surprised to find out how great a difference their credit history makes. As recent homeowners insurance rates calculations are revealing, credit is growing in its importance to Americans. Our daily lives are directly impacted by our credit histories, according to the results of a recent study. This includes the amount being paid in premiums for property policies. A recent study showed that people with fair or median credit scores pay an average of 32 percent higher premiums. The research was conducted by Quadrant Information Services. It was…