There is some concern for those with Massachusetts auto insurance, that insurers may be able to use credit scores and profession when determining one’s auto insurance rates. According to Jon Chesto’s article “Auto Insurance Agents Push for Ban on Using Socioeconomic Factors” on tauntongazette.com, many other states use credit scores as an auto insurance rate factor.
The article also discusses the debate going on now between insurers and consumers. President of the Massachusetts Association of Insurance Agents, Frank Mancini, is worried that the ban to use credit scores might not survive through the next commissioner. Because of this, his organization testified at the State House in favor of a movement that would ban the use of these certain factors as state law.
The Massachusetts Association of Insurance Agents believe that insurance rates should only be based on driving record, location, and how long someone has been driving. This is how it worked under Massachusetts previous, highly regulated auto insurance system. Most states allow factors such as education, credit scores and occupation when insurers calculate an auto insurance quote, and many feel this is unfair to consumers.