For those of us who live in states that utilize insurance risk scoring ... here is an interesting look into the "reason codes" that ChoicePoint "Attract" uses in their reporting.
While State Farm uses ChoicePoint to do periodic reviews on our auto/home insurance accounts, I don't know if they use their own Insurance Score or one provided through ChoicePoint. This information certainly makes me think twice about the mix of credit and cards I might choose to maintain. I LIKE being able to get the best insurance rates, but I hate to think that what looks good to FICO or some other type of credit scoring model is not necessarily the ideal situation when insurers evaluate you for their services. 
If you click on "more info" you get some insight into how ChoicePoint values (or doesn't) various aspects of your credit file. Other insurance scoring models will have their own biases.
Well, you know that with all those fields to be filled with data, there's no choice that any errors could get in! 
If I ever had my insurance rates changed because of this, I would sure demand to see the report and confirm each and every entry.
If I ever had my insurance rates changed because of this, I would sure demand to see the report and confirm each and every entry.
Strange you said this. I was thinking of changing my auto insurance from Allstate to SF several months ago and the mainland rep said he was going to run my credit, I said no way in h*ll your are you would be breaking the law. He checked with his supervisor and said I was correct and apologized.
haulingthescoreup wrote:
Well, you know that with all those fields to be filled with data, there's no choice that any errors could get in!
If I ever had my insurance rates changed because of this, I would sure demand to see the report and confirm each and every entry.