An insurance score - also called an insurance credit score - is a numerical point system based on select credit report characteristics. There is no direct relationship to financial credit scores used in lending decisions, as insurance scores are not intended to measure creditworthiness, but rather to predict risk. Insurance companies use insurance scores for underwriting decisions, and to partially determine charges for premiums. Insurance scores are applied in personal product lines, namely homeowners and private passenger automobile insurance, and typically not elsewhere.
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Famous quotes containing the words insurance and/or score:
“Women hock their jewels and their husbands’ insurance policies to acquire an unaccustomed shade in hair or crêpe de chine. Why then is it that when anyone commits anything novel in the arts he should be always greeted by this same peevish howl of pain and surprise? One is led to suspect that the interest people show in these much talked of commodities, painting, music, and writing, cannot be very deep or very genuine when they so wince under an unexpected impact.”
—John Dos Passos (1896–1970)
“Women who are either indisputably beautiful, or indisputably ugly, are best flattered upon the score of their understandings; but those who are in a state of mediocrity are best flattered upon their beauty, or at least their graces: for every woman who is not absolutely ugly, thinks herself handsome.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)