Re: CA Prop.17 - Portable Persistency
Posted: Fri Sep 24, 2010 11:07 am
Credit Scoring is not allowed in CA. Besides throwing the whole insurance industry in to a tizzy, Prop 103 at least put the rating values used by insurance companies on an equal footing. It designates the method and order of application in use of the primary and secondary rating factors. At least this gives the consumer a basis on which to compare rates.
Personally, I don't think persistency portability is a great thing. It just encourages the nickel and dime shoppers to move around instead of stay put. In my experience (over 40 years), it all evens out. Company A may be lower today and higher next year, but company B was higher last year and lower this year. Stay put for a few years and you've paid the same amount, regardless. Unless you fall in to the category of losing that CA Good Driver designation, you're still a preferred risk.
Personally, I don't think persistency portability is a great thing. It just encourages the nickel and dime shoppers to move around instead of stay put. In my experience (over 40 years), it all evens out. Company A may be lower today and higher next year, but company B was higher last year and lower this year. Stay put for a few years and you've paid the same amount, regardless. Unless you fall in to the category of losing that CA Good Driver designation, you're still a preferred risk.