Oh and I forgot to mention, some states, maybe most, don't even require that insurance companies need to tell you they're running a credit check since it's not for an extension fo credit. Found that one out when GEICO pulled and never told me they were going to. I called state insurance board and they told me that insurance companies are not necessarily required to tell you although they think they should and it's bad business not to. That's why I went to Progressive, because at least they have the guts to tell people in their VRU message before you get a quote.
Everyone should switch to Erie or USAA if you can get it. They do not pull a HI and they have great rates and fantastic service. The only way you will effect these companies is to cancel your policy and advice them why you are going to cancel. We should start to inform each other of whom gives great service with the stipulations that WE want. So what if ins. co's pull HI, don't give them anymore of your money, and tell your friends and families the same thing.
So what do you answer to the previous poster in this thread who said that USAA pulled a hard inquiry?
I'm not sure. They've never pulled a HI on me and I left them and came back and have HO and car insurance. So I guess I don't have an answer for you. All you can do is ask them upfront if they are going to pull a HI on you or not, if they are, say thank you and hang-up. Last month, I received my USAA newsletter and there was an article that was stating that USAA is contemplating using credit scores but said they have not made a decision yet.
We are with USAA, and they never pulled a credit report on us. We pay our premiums monthly. They pulled a ChoicePoint car report on my DH when he cancelled his car insurance policy (ex got the car) and was applying for a new one. On the other hand, I spoke to a coworker of mine about USAA and pulling credit reports and she indicated that she just signed up with them for car insurance and they DID pull a cr on her. Maybe they pull only on new customers? PawMix
I would love to fund a "NEW" study of INSURANCE vs. F.I.C.O. SCORES... There are "TONS" of people with POOR credit that don't have tickets, claims, or accidents!!! I STILL DON'T SEE HOW POOR CREDIT CAN CAUSE ACCIDENTS, CLAIMS, AND TICKETS, EVEN IF THE INSURANCE COMPANIES SAY IT DOES!!!
Re: Re: Hard inquiry for auto insurance ? IMHO someone with poor credit might and I stress the word might, be more likely to file a claim. I know of alot of people who will file a claim just to get the extra money, and never get the car fixed. Maybe that is their thinking behind it? Just like life ins. some check the cr to see how indebted the person is, is he/she likely to commit suicide after the clause is up b/c of debt.
Re: Re: Re: Hard inquiry for auto insurance ? BUT~~BUT~~BUT the surviving spouse has NO requirement to pay the UNSECURED debt unless they are "JOINT" accounts!!! ...and would 2 people who love each other really do that...JUST BECAUSE OF MONEY AND BILLS???
Re: Re: Re: Re: Hard inquiry for auto insurance ? Wait a sec George, I said suicide, I did not have the gull to mention the other.
Re: Re: Re: Re: Re: Hard inquiry for auto insurance ? But to answer you're question ''would 2 people who love each other', ever watch court t.v.?
Re: Re: Re: Re: Re: Hard inquiry for auto insurance ? OK I wasn't going to get into this but I have to. I don't really believe it is the fact that if your in debt you are more likely to file a claim just to get money. As far as I am concerned their reason is not substantial enough for me, to be pullling credit reports and I'll tell you why. The reason that most people who have credit problems, have the credit problems is because lack of money or something happening in their life to change their status. That being said it is not an irresponsible issue it is a victim of circumstance issue. People with money and good credit are just that. If you are a person who has less money and get into an accident, you will more often than not have to file a claim because you can not afford to pay out of pocket for damages. On the other hand if you are someone who has money more often than not you will work out something so you do not have to file a claim and up your premiums. So in a not so nutshell, people with good credit file less claims because they are able to make a deal to pay out of pocket to avoid filing a claim, and people with bad credit do not have that advantage and are forced to file a claim. This is through research and that is why I would love to fight this whole bad credit equals bad driver, crap.
Re: Re: Re: Hard inquiry for auto insurance ? Heh. Not discouting that idea, but I know someone with 800's who did just that. She used the claim money to pay off her credit cards then had an acquaintance make the repairs for less.
Re: Re: Re: Hard inquiry for auto insurance ? I am not saying that NEVER happens. Of course I'm sure it does but the majority do not do that and even if they do it would still boil down to not having enough money to get yourself out of a claim. I would do it if I had someone able to fix it for less money as long as the car was fixed and whatever is left should be mine. I pay it in anyway. It is such a small majority that actually file claim just to get money. Most like I said just can't afford to fix their car without a claim and as far as I can see that is the only correlation they have as far as credit is concerned.
Re: Re: Re: Re: Hard inquiry for auto insurance ? 1*I would do it if I had someone able to fix it for less money as long as the car was fixed and whatever is left should be mine. I pay it in anyway 2*Most like I said just can't afford to fix their car without a claim slstafford ================= 1*Nothing wrong with that because you aren't taking anything from the insurer that you didn't pay them for anyhow. Another point just because you did so does not justify the insurers jacking other insureds. 2*What do you think the insurance is for? If one is going to pay their own claims themselves then why buy the insurance? When you take out a policy it becomes the insurers job to handle claims not yours. Would you hire a plumber or an electrician at 35 bucks an hour and fix the plumbing and wiring your self? One expects them to do what they were paid for. I expect no less from an insurer. The END ************************* LB 59
Re: Re: Hard inquiry for auto insurance ? Would love to fund a "NEW" study of INSURANCE vs. F.I.C.O. SCORES... I GEORGE George Fico is just a big farce for credit and an even bigger charade when it comes to using it for insurance purposes. Makes about as much sense as using it to buy a plane ticket LOL The END ************************* LB 59
Re: Re: Re: Re: Hard inquiry for auto insurance ? She used the claim money to pay off her credit cards then had an acquaintance make the repairs for less. luckymom ============= Nothing wrong in that. Do you think that if she would have used all the claim money on the repairs it would have lowered yours or anybody else insurance premiums? The END ************************* LB 59
Re: Re: Re: Hard inquiry for auto insurance ? 1*I know of a lot of people who will file a claim just to get the extra money, and never get the car fixed 2*Maybe that is their thinking behind it? tnobles ================ 1*So what's wrong with that? 2*There thinking is it's the perfect scheme to plunder millions and FICO is their excuse. The END ************************* LB 59
Re: Re: Hard inquiry for auto insurance ? the insurance industries argument is that credit is the NUMBER ONE predictor of future losses, more so than driving history and past losses. Touchdown ================ It's not an argument it's total B- - - S___. FICO sold a line of hog wash to the CRAs and creditors, Once the creditors started scaming in the big bucks with it, it was only a matter of time till The insurers were sold the same bill of goods. It was an easy sale as insurers are just as money hungry or more so than the bankers and since Fico all ready had the track record of the bankers raking in the dough to show the insurers how Fico and creditor reports would open up the opportunity of plunder for them as well. The insurance industry has done a wondrous job of brainwashing the politicians and the consumers regarding using fico and credit reports for insurance purposes.
