Originally Posted by
scrog
They have some data that shows the lower the credit rating the more likely the person is to get in a wreck.
Originally Posted by
jpdx
There is no significant correlation between poor credit and poor driving.
Originally Posted by
deltaflyer256
The insurance business is a numbers game, so even if a small number of lower fico drivers have an increased tendency towards car accidents (due to more risk taking behavior or disregard for rules), it pays for the insurance company to use credit scores as a factor.
Actually, I don't believe the insurance companies ever claimed there was a correlation between credit score and driving ability or number of accidents. As the Texas Department of Insurance study confirmed there is a corrleation between credit score and number of claims, those with lower credit scores tend to file more insurance claims.