Congress Members Ask Insurers for Information on Credit-Based Home Insurance
By Katherine Hamilton
A group of Congress members are investigating how insurance companies use credit-based insurance scores in homeowners insurance underwriting and pricing.
The group of 20 members sent letters to USAA, State Farm, Progressive, Liberty Mutual, Farmers and Allstate requesting information about the credit-based practices.
The lawmakers said they are concerned insurance companies are unfairly raising rates based on customers' credit history.
Unlike debt, homeowners insurance products don't depend on a customer's ability to repay or their risk of defaulting on a loan, they said in the letters.
"Despite this, recent reporting indicates that Americans with weaker credit history pay significantly more for homeowners insurance," they said.
Insurers have cited increasing natural disasters, building costs and reinsurance expenses as drivers behind rising homeowners insurance premiums.
The lawmakers are asking the companies to provide information by Aug. 17.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
August 04, 2026 13:17 ET (17:17 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Dividend Stocks
12 Best Blue-Chip Stocks to Buy for the Long Term
United States