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Credit rating is highly correlated with wealth, and is also highly correlated with reduced accident rates. This is evidenced by me personally, as I now get muc

Credit rating is highly correlated with wealth, and is also highly correlated with reduced accident rates. This is evidenced by me personally, as I now get much better auto insurance rates with an 800+ credit rating than I did when I was in the 600s right out of college. I would be willing to bet money that the insurance actuaries that actually calculate risk disagree with your extremely prejudiced opinion.

illumin8 10y ago
If you disagree, commenting is probably more appropriate than downvoting. I'm still waiting to hear how your personal opinion about wealthy drivers is more accurate than auto insurance actuaries that calculate risk for a living.
- nitrogen 10y ago
  > If you disagree, commenting is probably more appropriate than downvoting. FWIW, in case you were unaware, Hacker News doesn't allow commenters to downvote direct replies. So whoever might've downvoted you wasn't the parent, and someone corrected it with an upvote or undown (your comment isn't gray as of this writing).
Reason077 10y ago
Credit rating is highly correlated with wealth, and is also highly correlated with reduced accident rates. You're assuming that accident rates are directly correlated with claim rates, however. A wealthy individual is less likely claim for a minor accident, preferring to pay out of pocket for small repairs rather than take a big hit on their premiums. Someone less wealthy may not have that option. There are other reasons why wealth may reduce your risk to insurers that are unrelated to safe driving. You're less likely to leave a car parked insecurely in a dodgy part of town, for example. Finally, "drivers of luxury brand cars" certainly aren't the same set as "wealthy people with good credit records". Plenty of lower net worth people can still manage a lease on a BMW or Mercedes, or buy a used one. Drivers of luxury cars cause more accidents, insurers say: http://www.telegraph.co.uk/finance/personalfinance/insurance/motorinsurance/11993627/Its-official-drivers-of-luxury-cars-cause-more-accidents-insurers-say.html http://www.telegraph.co.uk/finance/personalfinance/insurance...

illumin8 10y ago

If you disagree, commenting is probably more appropriate than downvoting. I'm still waiting to hear how your personal opinion about wealthy drivers is more accurate than auto insurance actuaries that calculate risk for a living.

nitrogen 10y ago
> If you disagree, commenting is probably more appropriate than downvoting. FWIW, in case you were unaware, Hacker News doesn't allow commenters to downvote direct replies. So whoever might've downvoted you wasn't the parent, and someone corrected it with an upvote or undown (your comment isn't gray as of this writing).

Reason077 10y ago

Credit rating is highly correlated with wealth, and is also highly correlated with reduced accident rates. You're assuming that accident rates are directly correlated with claim rates, however. A wealthy individual is less likely claim for a minor accident, preferring to pay out of pocket for small repairs rather than take a big hit on their premiums. Someone less wealthy may not have that option. There are other reasons why wealth may reduce your risk to insurers that are unrelated to safe driving. You're less likely to leave a car parked insecurely in a dodgy part of town, for example. Finally, "drivers of luxury brand cars" certainly aren't the same set as "wealthy people with good credit records". Plenty of lower net worth people can still manage a lease on a BMW or Mercedes, or buy a used one. Drivers of luxury cars cause more accidents, insurers say: http://www.telegraph.co.uk/finance/personalfinance/insurance/motorinsurance/11993627/Its-official-drivers-of-luxury-cars-cause-more-accidents-insurers-say.html http://www.telegraph.co.uk/finance/personalfinance/insurance...