I was in the situation of having to shop for new auto insurance this past summer cause i moved to a different state. it was horrible. however when i was talking with liberty mutual (very good customer service if you are looking for another auto insurer) she said just as a previous poster said. statistically, drivers with lower credit scores are more likely to have accidents and are possibly irresponsbile. She then explained that they weighted that information into other background. For instance: if you have had a DUI background that would have a much higher weight than credit history. She implied the worse the credit, the more weight it could have in determining your premium, however still, the overall weight of credit histroy is minimal compared to driving history and demographic information. Do I agree? No, but if my good credit will help lower my premium, so be it! Eric
Re: Re: Re: Re: Re: Re: Re: Re: Auto Insuranc with no Credit Check? WIFE WENT ON VACATION MID RENTAL...(WHILE THE CAR WAS BEING REPAIRED)... RE-RENTED THE CAR AFTER SHE GOT BACK!!! THEY REFUSED TO PAY FOR THE SECOND RENTAL!!!!!! TRYING TO SAVE THEM MONEY...COST ME MONEY THEIR INSURANCE--NOT MINE
Re: Re: Re: Re: Aut The premiums I pay were less than what the others (Geikco, Allstate, etc) ithinkican ======================================== Every body keeps knocking GEICO but I haven't seen any of those who are knocking them paying less for their auto insurance than the $500 a years it cost me to insure 5 cars with GEICO. How about you ithinkican are you paying less than a hundred a year per car ???
: Aut 1*Is there an insurance company out there that does not pull a CR? 2* I do not want my CR pulled just because an insurance company did studies on how credit relates to insurers filing claims. LiqueXX 1*There are some who don't but you have to ask or tell them no. 2*Or so they say they did
: Aut ASK UP FRONT...if they are going to PULL...take your business down the street... IF they pull after the fact...REPORT THEM TO THE STATE INSURANCE COMMISSION LIKE I DID...AND CANCEL THE POLICY
: Aut would I be quoted higher rates for a car that hasn't been insured because it's been garaged over the winter? SillyLilly ><- <>- ><- <> You should not have a garaged car removed from the policy. There is still a Comp Risk even though the car is not being driven. Leave Comp Coverage on it while being stored. This dose 2 things for you. 1* It protects you from loss due to theft vandalism fire wind etc. 2*It maintains continuos coverage on the auto thus avoiding the high rates you asked about above.
: Aut 2*if any car you've ever had your name on,has had an accident it will show up on your CLUE merri72 ><- <>- ><- <> 2*Why should it go on my report after i sell the car ????????????????????????? ><- <>- ><- <>
: Aut gottago | 115 posts since Nov 2002 24.161.241.75 | 02.01.2004 @ 14:44 quote:-------------------------------------------------------------------------------- Originally posted by Butch JUST FOLLOW THE MONEY GANG ------------------------------------------------------------------------------- 1*And how long did it take you to figure this out? 2*Of course insurers are after money. 3*They are also interested in reducing the risk of losing money. 4*America is built upon capitalism. 5*Insurers aren't charities, 6*they are going to do anything they can to make the bottom line look better. 7*The sooner you realize that ><- <>- ><- <> 1*At least he has it figured out which is a lot more than I can say for you. 2*Don't we know it and how! 3*Don't look like it by the way they approach it with pulling credit. 4*And insurance using scoring is based on a flimflam that has nothing to so with capitalism. 5*Don't we know that LOL! 6*Sure that is why they jumped in on the fico shell game. 7* You got room to talk what you have realized about this is nothing.
: Aut quote: -------------------------------------------------------------------------------- Originally posted by gottago And how long did it take you to figure this out? ------------------------------------------------------------------------ A troll, is a troll, is a troll. In this case, George and Butch are both correct. 1*So why is it you are constantly provoking George? _ LKH ___________________________ 1*Because _>A troll, is a troll, is a troll. ><- <>- ><- <>
: Aut t's a fact that credit plays a role in insurance underwriting. You cannot dispute that, can you? gottago ><- <>- ><- <> I didn't see anybody disputing that. Where did you see it?????
eriqnoodle | Do I agree? No, but if my good credit will help lower my premium, so be it! Eric ><- <>- ><- <> But it don't do that . Also what if your score tanks and you get your insurance jacked? ><- <>- ><- <>
as far as i know, insurance companies can no longer check up on your credit after the inital check when you apply with them...
: Re: Aut 2* An insurance company doesn't need anything more than a chart showing that out of 100,000 accidents, a certain percentage were caused by a person with certain characteristics, and that makes it legal. 3**In my own case, I earned my bad credit and I deserve it. 4*I think that the statistics probably back up this labeling 5*Insurance shouldn't be mandatory 6*They offer discounts based on credit, and those with worse credit are not entitled to those discounts. 7**Without credit scoring, those discounts would not be available to those people who are eligible for them. merri72 ><- <>- ><- <> 2*There is no outside or independent study that backs the credit chart. 3*No body deserves to be screwed gypped bilked or taken advantage of just because of their credit. 4*See number 2 5*That was a big snow job if I ever saw one. 6*Not really discounts - just a reduction in over charges. 7*The people with low scores are subsidizing the eligible ones
: Re: Aut in response to the comments about insurance and credit - it has to do w/whether or not you would file a claim. see, if you have trouble paying your bills, odds are that if you are in even a minor fender-bender, you will file a claim (due to the lack of funds). whereas someone who doesn't use their cc much or never late probably has money in the bank and would pay for minor repairs themselves. ** jenz ><- <>- ><- <> The risk is the same aside from ones credit. Stands to reason if you have a claim you will file the claim. After all isn't this why one purchases insurance. This risk had already been factored into premiums well before scoring and pulling reports ever came along. To jack ones premium do to credit is nothing but price gouging as the insurer already was paid to take the risk.
: Re: Aut 1*I have to try and explain to them something that even I don't understand merri72 ><- <>- ><- <> 1*Poor agent training typical of CAs and insurance companies.
: Re: Aut << I'm afraid I don't see what would prevent her from filing a claim.. merri72 ><- <>- ><- <> =========================== That was my point her credit or score has no bearing on wither or not she will file a claim. >>><- <>- ><- <>
: Re: Aut Originally posted by gottago Apparently, it does, since insurers pull credit reports prior to issuing policies. The world doesn't revolve around Geroge's logic, thank God. -------------------------------------------------------------------------------- 1*Just because they do it does not make it right. 2*My ability to drive a car without smacking it into a pole has nothing to do with how timely I make my CC payments. 3*In New York there is a bill in the Legislature to outlaw this practice. I hope it passes. 4*I don't always see eye to eye with George, but this time, he's right. Nester | ><- <>- ><- <> 1*Score Based pricing is a shell game so when insures saw how much the bankers were plundering from consumers they wanted in on the con job so they with FICOs assistance birthed the myth that credit was linked to insurance. Scoring and insurance is an even bigger racket than scoring and banking. 2*Just give everyone an 800 score and there won't be any accidents. 3*There needs to be a federal ban on it. 4*He Certainly Is.
