Wednesday, April 27, 2005

Pay As You Go Car Insurance

Vancouver city council plans to lobby the publicly-owned Insurance Corporation of British Columbia to give provincial drivers the option of paying for their insurance based on the number of kilometres they drive.
 
I find this to be a good idea on many levels. One, car insurance costs would be greatly reduced and two, people would drive substantially less. This would also put less traffic on our roads (in the Bay Area and Northern California we could use it) which in turn would help keep our roads in better conditions.
 

posted by Richard @ 11:32 PM   0 comments links to this post  

Tuesday, April 26, 2005

Your Credit Score Could Effect Your Car Insurance Rates

Apparently this is true in West Virginia. I wouldn't be surprised if this happens elsewhere as well, but no one knows about it. It makes sense though, since people with poor credit scores are late on payments, are probably procrastinators, and are likely higher risks in life in general. Is this fair? Probably not. But is it fair that car insurance rates are high for those who are under 25 that have not had a single accident, and have a credit score above 700? The insurance industry is one that is based on statistics, and generally does not cater to those outliers or exceptions. If they did, it would hurt their bottom lines.

You can read the story here.

posted by Richard @ 10:33 PM   0 comments links to this post