Recently, Allstate Insurance was talking about zodiac signs. It seems that what was supposed to be an amusing way to look at car insurance has led to a lot of confusion. In response, Allstate has issued a press release designed to clarify some things.
My best guess is that Allstate Insurance was just trying to find an entertaining way to catch people’s attention. One of the less controversial newsworthy items of late involves the zodiac signs. There used to be twelve, but a thirteenth sign has recently been added. As a result, the birth dates that had been previously assigned to each zodiac sign had been changed, in order to accommodate the new sign. I know that I have glanced over several articles online where people were lamenting that they no longer were the zodiac sign that they used to be.
In short, Allstate Insurance decided to look at their customer’s birth dates, and figure out what their zodiac sign would be, based on the newly revised zodiac. Next, Allstate looked at data about when car insurance claims were filed in 2010, and noted the birth date of the driver who filed the claim. From this, they extrapolated that Virgos were the worst drivers, and the most likely to get into a car accident.
Unfortunately, a little article that was probably supposed to be nothing more than a fun way to get people to think about automobile insurance has caused some confusion. To clear things up, Allstate has issued a press release to correct any misconceptions that people may have due to the zodiac article.
Allstate Insurance does not include information about a person’s zodiac sign as part of their underwriting process. The press release says: “Rating by astrology would not be actuarially sound”. They know that their customers take insurance, and the expenses of it, very seriously, and want to emphasize that Allstate takes it seriously as well. They also offered an apology for any confusion that has been caused.
While I couldn’t find anything that specifically describes exactly what the underwriters at Allstate look for when someone applies for car insurance, I could find information that explained what underwriters in general look for. They check to see how good, or bad, your driving record is. Your age is taken into account. Many have different rates depending on if you are male or female. They want to know that your car is parked safely in your garage at night, instead of on the street, especially if you live in a dangerous neighborhood. In other words, fear not, Virgos! You will not be charged more on your car insurance premiums specifically due to your zodiac sign.
Image by heatherknitz on Flickr