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Car Insurance Premiums - discrimination against those less well off!!


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Hi all, I am seeking help from everyone.

 

Recently I had to get lots of quotes for car insurance and they were all pretty high.

I found out that the reason for this is due to my credit file and what credit risk I am deemed to be.

 

The insurance companies/brokers look at your credit file and then decide if you are a good or bad threat. If you are a bad threat then your premium will be higher than those with a good credit file.

 

This I feel is discrimination and an unfair pricing policy.

 

The insurance companies/brokers will look at your file to decide what premium is to be applied but do not reflect that you have made monthly payments without fail back on to your credit file. So in one hand they use your bad profile to exploit you and on the other they do not reflect your ability to pay back the monthly installments.

 

Even if you decide to pay in full on a one off payment you are still hit with a higher premium, the only difference being that you don't have to pay interest for paying monthly.

 

Any suggestions on who I can contact in the media to highlight this problem?

 

Please keep your suggestions relating to this problem.

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Contact Martyn Lewis via his Money saving site.

 

It is wrong, even if they say that Insurance rates need to reflect risk in all respects. The thing is that I don't think it is actually illegal to discriminate against the poor. It would be case if whether the OFT would look at it as unfair trading.

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Contact Martyn Lewis via his Money saving site.

 

It is wrong, even if they say that Insurance rates need to reflect risk in all respects. The thing is that I don't think it is actually illegal to discriminate against the poor. It would be case if whether the OFT would look at it as unfair trading.

 

It's not illegal to discriminate against the poor / those with a bad credit record as demonstrated by the credit industry.

 

If an Insurer wants to price based on their perception (Generally backed up by their claims statistics) that those with bad credit records have more claims, as a business they're entitled.

 

The credit checks are often used to check whether a person is registered at the address they declare to the Insurer

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