A bill aimed at preventing potential discriminatory car insurance rates has passed by a 6-2 vote in the New Mexico House of Representatives. HB 80, sponsored by Rep. Liz Thomson, seeks to prohibit insurance companies from using credit scores in determining car insurance premiums. If enacted, premiums would increase for individuals with high credit scores and decrease for those with low scores. Insurance companies are lobbying against the bill, while Superintendent of the Office of Insurance Alice Kane supports it, citing negative impacts on low-income drivers. House Minority Whip Alan Martinez expressed concern about potentially higher premiums, despite his history of paying bills on time. Thomson argued that poor credit does not equate to irresponsibility, especially for those living in poverty. Kane highlighted the high number of uninsured motorists in New Mexico and stated that the bill could help more drivers afford insurance. The legislation passed along party lines and will now move to the House Commerce and Economic Development committee for further review. If enacted, the bill could provide relief to insured motorists involved in accidents with uninsured drivers.
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