Thu. Oct 28th, 2021

Washington residents with good credit scores are facing sticker shock when their car or home insurance comes up for renewal. Rates are increasing because Washington Insurance Commissioner Mike Kreidler has banned insurance companies from using credit scores in setting rates. The policy went into effect in late June. Since most insurance policies are sold on an annualized basis, residents are getting sticker shock whenever their policies are set to renew. Blaine resident Andy Weeda is one of the shocked. His family “had all of the little benefits,” that came with excellent credit and a good driving record, he told The Center Square. “We were told they are all getting pulled in the state of Washington,” Weeda said. This all amounts to “leveling the driving field, I guess.” Banning credit rating was rejected by the Washington Legislature earlier this year and instead enacted by the Office of the Insurance Commissioner by …

Author: The Center Square
Source: https://www.theepochtimes.com/new-rule-forces-washington-residents-with-good-credit-to-pay-more-for-insurance_4040718.html

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