You may be a driver with a perfect record, but did you know that insurance companies are looking at more than your driving history to determine your premium?

As mentioned in a Consumer Reports further states that insurers believe that there is a connection between credit scores and damage claims. So, too, believes the Federal Trade Commission. But why?

The St. Louis Post-Dispatch explains that insurers predict that if people are cautious with their credit they will be cautious behind the wheel. But often times, people who have reasonably good credit can unknowingly affect their insurance in a variety of ways, such as simply opening three accounts in the one year or making multiple loan inquiries. Taking any of those actions can result in an increase in premiums.

This week, the Financial Services Subcommittee on Oversight and Investigations has started looking into possible discrimination allegations related to credit scoring. For more information on this issue, please see the articles referenced above.