Re: I don't understand... But, I can tell you one thing, in Virginia, they have to ask! They do it without asking all the time. I have a friend who is a CSR for an agent, she doesn't ask because people go ballistic. No one has corrected her. If they say they won't give you a quote, or they won't insure you, say "thanks anyway" and call someone else. A lot of them will do it without a report. GEICO will.
Re: I don't understand... The law says you have to ask and get permission for a QUOTE.However, any APPLICATION just needs to have the disclaimer.I have seen Geico apps. and they have the disclaimer,are you saying the Va. ones do not ? Many companies,even those who require a ss # for a quote do not pull a report,they may or may not pull one on application.And others,that do not require a ss# for a quote WILL pull one upon application.Others wait for first renewal to pull.
Re: I don't understand... The GEICO website does not give you the option of saying "no." However, if you call the 800 number, you get a live person, and no matter how the disclosure sounds, if you say "no" they will not pull a report, they will give you a quote, and they will still give preferred rates to good drivers. When I am on the phone, I have had several calls come in from consumers with pretty good knowledge of credit scoring, LOL. I always wonder if I'm talking to a creditnetter. One this past week was a website owner in AZ who gave an adamant "no" to credit inquiry, and joined Pentagon Federal Credit Union at my suggestion. Is that anyone on here?
Re: I don't understand... WHY CHAT - Virginia consumer protection law requires an "information practices" disclosure. In the past it had to be written, now it is verbal also. That is the law they break when they don't ask. Quite often when you get an insurance quote over the phone, that is the application. Same thing with online. You hit submit, pay the money, they underwrite and issue a policy with no further ado. I am told that Choicepoint software sends the appropriate notices for the state involved, however, I have never seen whatever it is they send. We do have to click "yes" or "no" as to whether MVR or CLUE reports changed their initial quote to a higher rate.
Re: I don't understand... Yes, you can refuse permission when obtaining insurance or getting a quote, however, they can still pull a report upon renewal,(or at any time) after you have the insurance in force UNLESS you "opt-out" of ALL unrequested inquiries.By the way, it is not only auto insurance,but life,disability and home-owners insurance that pulls reports,except,in those cases,if they don't like your report they will just refuse to issue the policy.
Re: I don't understand... Homeowner, always, everyone! There is no way out of this. Life and DI, depends on the amount of insurance, other variables, and the company's underwriting practices. Smaller companies that have to get reinsurance on larger policies will pull credit for different amounts than large companies who don't bat an eye at larger amounts. To avoid credit with life insurance, get more than one smaller policy ($100,000) with different companies - large companies. But then you pay more per K for the coverage. Small regional life ins companies consider $100,000 a large policy. Companies like PRU, Met, GEcap, - this is a small policy (the smallest they issue, LOL). They will not pull credit.
Re: I don't understand... Not everyone pulls your report for homeowner's insurance. Erie has never pulled mine (I put into effect last November) I don't know if it is because I have been with them since I was 16 or what, but they have never pulled my report at all - renters, homeowner's, auto, or life insurance. That's why I stay with them. Dani
Re: I don't understand... Breeze, about a year and a half ago I got an ad in the mail from Geico. I called for a quote. When the cs rep asked to pull my credit, I said no. He said they wouldn't be able to help me then. I said fine and hung up. 2 months later, there is a hard inquiry from Geico on my Equifax report. I sent letters and demanded they remove it. They wrote back that I gave permission over the phone. I did no such thing. They never removed it. It will fall off in June or July. I will never do business with Geico. P.S. - How's your mom doing?
Re: I don't understand... Sorry that happened to you LKH. I am not sure why, since I didn't work for them then. I know there have been many changes in the last year or so - they lost money that year Also, stats are not bearing out the correlation betw. credit and driving - claims are up, LOL. I remember when there was a "statistical correlation" between red cars and claims filed, LOL. That went by the wayside a long time ago. The benefits of age, huh? The historical perspective...... Mom is wayyyy better. Still has a CNA who stays with her while I work. Her ticker is much better with the pacemaker, but she is having to get her confidence back. I put the BP monitor on her arm sometimes (it beeps out loud), so she can hear how strong and steady her pulse is.
Re: I don't understand... somebody ought to try this.... call for an insurance quote. Change all information slightly so that credit software cannot get a "hit" when it tries to pull your report. Refuse SSN, change DOB, but make sure your age stays the same, change address, but not zip code, change spelling of your name, but only slightly. I wonder what it would do. Just speculating. Anyone game? I mean really, "no hit" shouldn't stop a quote. There are plenty of times when that database is down, and they can give quotes anyway.
Re: I don't understand... When you get a quote ask if it is their lowest rate. If they say no ask them what is and what you need to do to qualify for it? If they say it is don't believe them walk away and go elsewhere.
