Insurance
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It's called statistics; they have found a correlation between credit score and accident rate for autos, at least. You can invent your own rational reason why this might be, but probably relates to "judgement".
tom
Supercubber wrote:For the past few years insurance companies have also been allowed to adjust your premium according to your credit rating, even if you pay the yearly policy in full rather than make quarterly payments. This pertains to all kinds of insurance, not just aviation.
Beyond me how they figure your credit rating into their risk potential but it's there none the less.
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Savannah-Tom offline
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Supercubber wrote:For the past few years insurance companies have also been allowed to adjust your premium according to your credit rating, even if you pay the yearly policy in full rather than make quarterly payments. This pertains to all kinds of insurance, not just aviation.
Beyond me how they figure your credit rating into their risk potential but it's there none the less.
Then how come I'm payin' $1700 a year for airplane insurance with a credit score of 809?
I tell ya, I don't get no respect!
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Strata Rocketeer offline
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"I've been ionized, but I'm okay now." - Buckaroo Bonzai
Be thankful....if you had a bad credit score you'd probably be paying $2700.00
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Supercubber offline
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Three years ago my insurance rate was $1150...
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Strata Rocketeer offline
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"I've been ionized, but I'm okay now." - Buckaroo Bonzai
Strata,
They're probably adding your age into the risk profile, just kidding.
Since our economics are based on petroleum and the fact frivolous lawsuits are still running amuck with outrageous settlements, you can expect to see another increase in insurance rates in the near future.
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Supercubber offline
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