LEGISLATION PENDING IN THE ILLINOIS SENATE PROHIBITS AUTO INSURERS FROM BASING RATES ON YOUR CREDIT RATING.
PREMIUM RATES OFTEN FACTOR IN A DRIVER’S CREDIT SCORE…WHICH SENATOR JACQUELINE COLLINS OF CHICAGO SAYS DOESN’T REALLY MAKE SENSE.
SHE SAYS IT’S AN UNFAIR PRACTICE.
COLLINS SAYS THIS IS ESPECIALLY A PROBLEM IN LOW INCOME MINORITY COMMUNITIES WHERE DRIVERS MAY BE MORE APT TO HAVE A LOWER CREDIT SCORE. THE INSURANCE INDUSTRY STRONGLY OPPOSES THE BILL.
