Car Insurance Rates

[wrinkleigh]

About 2 years ago, we switched from Allstate car insurance to Progressive. Progressive offered GREAT rates. Well, everyone (including Allstate) told us that when we renewed our policy every six months, they would go up on us. But so far, two years later, we have the exact same rate we have always had.

I am concerned though -- do you think that as our credit rates drop -- they will go up on our rates, even though we have been customers so long -- and never had a claim??

I realize getting a new policy would be hard -- but what about us as existing customers?? Will they go up on us simply because of credit score?????

[bige1030]

Not in a lot of states. It's oftentimes against state law to raise insurance rates solely on the basis of credit information.

[DisneyGirl]

We were long standing, good customers with our car insurance and they raised our rates siting our bankruptcy as the reason. The letter even went on to say that through research it's proven that people with poor credit have more accidents/claims. Which my husband and I thought was bull. Like I said, we were good customers, never paid late, and never filed a claim with them.

We switched to a different insurance with no problems and an even lower rate!

If you're interested in the companies, we had Pemco and switched to Geico and were living in WA at the time. It was in late 2004 when it happened so laws may have changed since then.