Illinois Bill Could End Ridiculously High Auto Insurance Rates
Some auto insurance companies are already moving toward charging premiums based on driving habits, but soon it could become the law in Illinois.
How Are Auto Insurance Rates Determined
If you can understand how insurance companies come up with the premiums they charge, you'd have to have some 'inside information', because it makes very little sense to me.
The only thing I know for sure, is that my auto insurance premium should have nothing to do with my age, my race, my sex my zip code and sure as hell not my credit score.
Certainly, you're not surprised by the fact that insurance companies have been determining our rates with that information for a very long time.
While statistics may show that teenage boys are quite a risk to insure on the road, it doesn't mean that ALL teenage boys are horrible drivers. Getting excellent grades is certainly an accomplishment but why should that accomplishment mean you're a better driver than a C student?
Illinois Law to Stop Auto Insurance Discrimination
Illinois House Bill 4611 would prohibit insurance companies from basing our rates based on the discriminatory data I mentioned.
Instead, our rate would be determined by the only thing that should matter. Insurers would have to use our driving records to determine our rates.
According to mystateline.com, Secretary of State Alexi Giannoulias, a supporter of the bill, said,
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"[...] an individual’s driving record should serve as the primary factor analyzed when setting rates. All we’re asking for is fairness when it comes to what people have to pay to have car insurance.”
Do you know why every resident of Rockford, Illinois should be supporting this bill?
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Once again, Rockford is the city with the worst drivers in Illinois, That has been researched. In fact, Rockford ranks among the worst drivers in America.
Should you have to pay higher rates just because you live in a Rockford zip code where security cameras caught this craziness on a sidewalk outside a tavern?
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