Hi Breeze, I know you're an insurance guru, so maybe you can verify this for me. In all the reading I've done on this board, it seems as though all insurance companies pull credit and base your premiums off what they find. When I was at the dealership yesterday the finance mgr gave me a magnet for an American Family agent in my area. When I asked about the credit issue, she said that they do not pull credit. She said that the comanies that usually pull credit for auto insurance are agents that represent several insurance comapnies or specialize in SR-22 insurance. Is this true? Every time I have gotten a quote online from Progressive or Geico they pull credit. By the way, Progressive and Geico were 2x more expensive than State Farm last time I got quotes (when I was going to buy that Jetta a few weeks back). Only difference was that State Farm didn't pull credit. Would my premiums be tht much more because of my credit score???? Seems pretty steep if you ask me. My TU empirica is 661...how will that affect my premiums (generally, not looking for an exact figure)?? Thanks so much. You are a great asset on this board for insurance q's, that's for sure.
There are a few that do not pull credit, mostly smaller regional companies - and those are the ones local agents know about, LOL. I had read that SF did not pull credit, but people on this board have said they did, so I have no idea. I think, if I recall, you are kind of young, right? GEICO is very high for people who have had their license less than 3 years, or are under age 25, unless your parents have a long-standing GEICO policy and you are listed as an insured on it. Then they will "spin you off" with a decent rate. American Family seems to have pretty good rates from what I am hearing. Just keep in mind that it will probably change some time in the future - just like credit card companies, insurance companies go into "acquire new business" mode and lowball their premiums to get new customers - then they cut back and raise rates after a while. Most online quotes will pull credit. I know with GEICO you can tell the rep up front that you don't want your credit checked and they won't check it, but online, you have no choice. What the auto dealership finance mgr said was pure speculation, LOL. He/she has no way of knowing who pulls credit and who doesn't. My advice is, call around for quotes. When they ask for your SSN, before you give it, say "I do NOT want you to check my credit, if you have to check my credit, I do not want your policy." Then don't let them talk you into it!!! If they won't agree, say "thanks anyway" and hang up. Refusing SSN does not prevent pulling credit BTW - they can get it if they have 2 matching pieces of info - like address and DOB. Every company is different - they all have stats that make them want certain kinds of people, and not want others. And it varies from company to company. if they have had big losses from one group, that group will have high rates. If they make money on one group, that group will have low rates. No company specializes in "SR22 insurance" LOL. There is no such company. Companies that issue "nonstandard" policies will file SR22's (or whatever your state calls it) and companies that only issued preferred and standard policies will not file SR22's. If you need an SR22 you are a non-standard risk. Having a financial responsibility filing means that your state is monitoring you for some reason, making sure that you always have insurance. Does that explain it? This is complicated stuff for the average person. If you drop your insurance for any reason, the next time you go to get it, it will be more expensive - even if you drop it because you have no vehicle to insure!!! Always say you had insurance for the past 12 months. Credit can double your rate - absolutely. Credit can get you declined or cancelled in some states - it depends on your state's restrictions on the use of credit for insurance underwriting. Empirica or FICO, and insurance scores are not the same thing. No one knows what is factored into the insurance scores. However, having any negatives will definitely impact it. There can be other factors we don't know about.
I posted on Amica not pulling credit from the bureaus. I told them that I didn't want them to and they said ok. Then she said that they pull from some bureau that gives an A-Z rating and not from credit bureaus. they gave me outstanding rates and they are way better than American Family. I had them and they pulled a hard on the credit reports and did not tell me. Amica gives money back at the end of the policy year if you do a dividend policy so for full coverage with rental and 100K/300K it ends up being $834 for the year. Hopes this helps.
breeze My advice is, call around for quotes. When they ask for your SSN, before you give it, say "I do NOT want you to check my credit, if you have to check my credit, I do not want your policy." Then don't let them talk you into it!!! If they won't agree, say "thanks anyway" and hang up. Refusing SSN does not prevent pulling credit BTW - they can get it if they have 2 matching pieces of info - like address and DOB. ------------------------------------------------------------------------------------------- "I DO NOT DRIVE BY MY CREDIT REPORT" "I DID NOT GET A TICKET WHEN I LOST 20 F.I.C.O. POINTS BECAUSE I HAVE THOSE NEW CREDIT CARDS" They MAY try to SCAM you into believing that you can only get the BEST rates with a credit report!!! THAT'S A LIE!!!
Thanks breeze for the info. You mean I can tell an insurance company I have been covered for the past 12 months, even if I haven't? I know this is a big factor in premiums, because Progrressive told me all about it. So, they don't verify that info or request a copy of your current policy? I don't need sr-22 insurance...my driving record is totally clean--0 points and no tickets since I was like 19. I'm 25 now and I'll be turning 26 at the end of June. Thanks for the Amica suggestion milkmom. I think I'll call them, since their commercials on TV show everyone cheering and clapping for them.
I just called Amica and they quoted me $1395 for the entire year. They do not pull credit, just a vehicle registry report (or whatever it's called) and driving record. It would be 10 monthly installments with 2 monts off at the end of the year. I'm not sure if it's worth it; i just got a quote from State Farm for $88.02/month... I asked about the dividend option and it would only save me $50/year.
so you got quotes from Amica and State Farm both without pulling your CR? what state are you in? please put down your coverage details, type of vehicles, etc if you don't mind?
Try liberty mutual group; I got that from a local broker, & they're cheaper than my husband's coverage through SF. They'll give you a AAA discount if you're a member.
What state? What car? What coverages? No they don't check your prior coverage - at least most don't. Only under strange circumstances.
By the way, Progressive and Geico were 2x more expensive than State Farm last time I got quotes (when I was going to buy that Jetta a few weeks back). matt_r | 173 ```````````````````````````````````````````````````````` I have been trying for 12 Yrs. to find someone to insure my cars fore less than GEICO DOES. Must br your age
They MAY try to SCAM you into believing that you can only get the BEST rates with a credit report!!! THAT'S A LIE!!! GEORGE~~ ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ And the lie is they want it so they can charge you the most they can.
I don't need sr-22 insurance...my driving record is totally clean--0 points and no tickets since I was like 19. I'm 25 now and I'll be turning 26 at the end of June. matt_r | 173 Watch them charge you the 25 age rate and not lower it to the 26 age rate at rhe end of June
Breeze you're funny. Yes lbrown is posting; he's actually agreeing with me this time. He's off his rocker, that's for sure. State is Wisconsin, Car is '02 Sentra GXE, Coverage is $100K/$300K/$500 deductibles. I'm 25, no tickets in past 3 years. 100% owner/only driver. State Farm is saying $88/month and I have a call in with AmFam. Whatever I do, I need to do it tomorrow, so I'm kind of railroading this one and just looking for the best rate. Amica seems a bit high, but first I need to see what the others want. Thanks for the tip on previous coverage. I'll make sure to tell them 'yes' when they ask.
Those are great rates!! Enjoy!! I don't usually use ignore, but in this case, I doubt I'm missing anything. I heard it the first time, disagreed, and that's that. Make all your payments on time, now, and you will have great credit, a great car, and terrific insurance rates!!
