bad credit? pay more for insurance...

I read an excerpt of this article that was sent to my work e-mail through a news feed we get.

this section kind of bugged me:

But the long-awaited Federal Trade Commission report also found that blacks and Hispanics consistently end up with lower scores and therefore pay higher insurance rates.

But, I guess it's something I already sort of knew. From what I understand, for the past decade or so, insurance companies have been consistently pulling your credit before they give you an accurate quote. Quotes you might get online might give you an idea of what your rates will be but you won't know for sure until you call a company over the phone and get a definite rate quote or go into an Insurance Agent's office.

It usually shows up as a hard pull on your credit - just an FYI when shopping around for rates. The better your credit score though, the cheaper your insurance. If you have horrible credit though well you pay the price for failing to pay on time I guess.