Motor vehicle insurance; premiums based on credit information. (SB1430)

Introduced By

Sen. Mark Obenshain (R-Harrisonburg)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Motor vehicle insurance; premiums based on credit information.  Prohibits insurers from setting rates for motor vehicle insurance on the basis of a person's credit history or credit score. Read the Bill »


01/24/2011: Failed to Pass in Committee


01/20/2011Presented and ordered printed 11104216D
01/20/2011Referred to Committee on Commerce and Labor
01/24/2011Passed by indefinitely in Commerce and Labor (14-Y 0-N) (see vote tally)
01/31/2011Impact statement from SCC (SB1430)


Jim Duncan writes:

Curious about the rationale for this bill - credit histories, while sometimes flawed, do tend to be an indicator or risk. Why shouldn't insurance companies be allowed to implement a risk factor in pricing?

robert legge writes:

I'll assume that credit histories do TEND to be an indicator of risk for causing car crashes, although I'm not sure how good of an indicator they really are. Seems like it would be hard to know whether the ins. biz was using them or not. That said, I don't mind seeing some kind of restriction on all this use of personal info.