Who checks our credit ratings?

[Beppington]

That's not such a far-fetched question actually. There is a product called return of premium life insurance. Basically, you buy term coverage and if you survive for the full term, you get your premiums back. It isn't worth doing because most people don't keep their policy for the full term and those policies cost more than standard term coverage. It is basically a marketing ploy. There is no reason they couldn't do the same thing with auto policies.

They could certainly do it, but they'd have to charge a premium that's the same amount higher as you expect to get refunded ... & that'd be silly!

After all, during the period of your insurance coverage, statistically somebody was using the money he paid in in premiums ... just didn't happen to be him in his example.

[Like2Plan]

You just proved my point. Here is a copy of a section of what you just sent me to:

The new credit card rules are not supposed to permit universal default... (I'm not sure how it will pertain to the insurance industry... )

What I have been reading here is that people who posted did none of the "bad things" listed here and yet they still are seeing reductions and higher interest.

The reason CC companies are making these adjustments now is because they want to limit their exposure because they won't be allowed to do a lot of things they do now after the new rules go into place.....