The ranking member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, Sen. Elizabeth Warren, Rep. Ayanna Pressley and 18 other members of Congress asked six insurers to explain how they use credit-based insurance scores to underwrite and price homeowners insurance. The letters were sent to USAA, State Farm, Progressive, Liberty Mutual, Farmers and Allstate, with responses requested by August 17. The lawmakers raised concerns that consumers with weaker credit histories pay significantly higher premiums even though property and casualty insurance does not depend on a customer’s ability to repay debt. Citing research indicating that credit scores can affect premiums as much as or more than disaster risk in many parts of the country, they argued that credit histories may reflect job losses, medical bills, predatory lending or inaccurate information rather than the risk associated with a home.
U.S. Senate Committee on Banking, Housing and Urban Affairs2026-08-04
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member and lawmakers seek six insurers’ data on credit-based homeowners insurance pricing
Sen. Elizabeth Warren, Rep. Ayanna Pressley and 18 other lawmakers asked six major insurers to explain their use of credit-based insurance scores in homeowners insurance underwriting and pricing. They raised concerns that credit history can drive premiums as much as or more than disaster risk and requested responses by August 17.