Credit scores are often a factor in determining your insurance premiums. Search the Internet using the keywords “credit score and insurance rates" and briefly respond to these questions: What are some pros and cons of using credit scores for insurance pricing?
Correlations are used to justify considering credit scores to set premiums. What other variables related to credit scores justify linking them to a premium rate?
Describe from the insurance company’s perspective which expected values are affected by use of credit scores.
Do you agree or disagree with using credit scores in determining insurance premiums? Support your opinion briefly.