insurance question after Bk

[shygal]

I understand that your auto insurance runs a credit report on you occassonally. Mine just did.. and because I haven't paid any cc in 4 months my report is not the best! Thus increasing my premium I received a letter yesterday stating that my transunion report showed some negative factors thus causing my insurance to go up by 15.00 per month! So now I am thinking GREAT, what is going to happen once I file Bk... is the insurance going to sky rocket??? Has anyone experienced this?? I know that there is basically nothing I can do because I need insurance to drive to work each and every day!

[HHM]

Did your insurance go up or not?

[shygal]

yes! As I stated, my insurance went up $ 15.00 per month! That is just based on my current credit report ( prior to filing Bk )My credit isn't the best right now because of all the negative marks... so, my question IS... if it already went up by 15.00 per month what is going to happen AFTER Bk? Has anyone had this problem/question?
thanks

[robivi3]

AIG raised me almost $50.00 per month (I am in South Florida, for two cars, wife and I only I pay $3000.00 per year, full coverage for one car only)

Ten year customer
Good record
No claims paid, EVER
Refused to be paid for a claim after my ONE accident (BEFORE BK)
reason given, BK
After lowering my rate for six months when i fixed my own damage

Scheister bastards AIG, pieces of dog turd in my book

[HRx]

This is very common practice for insurance companies.

[vic6string]

Suprisingly enough....

We have American Express as our homeowner's and auto insurance. Most people don't know they do this, and I think you have to have one of their cards to initially get insurance. We were afraid to lose them when we did our BK because they have been great thus far (had 1 total loss car due to hurricane flooding) and they are amazingly inexpensive (about 20% less then everyone else we called including Geico, AllState, and some others) We had 3 Amex cards on the BK discharge, but not only did they not cancel us...they never raised the rate. We have since bought a new car and added that one on and the rates are still low as ever even though we can't even apply for an Amex card. I don't know what their criteria is to sign up, but I would recommend them to anyone, no matter what their credit situation.

[tinroofrusted]

Thank GOD I live in Michigan. In July this practice will be outlawed, and insurance companies can no longer use your credit score to determien your rate!

I would also like to add this; once we file for bankruptcy, it's not like we can do it again anytime soon, right? Then why do they look at us as such a " huge risk?" AFTER the fact? That is so stupid to me.

[bk2003]

I filed BK7 and my insurance w/State Farm didn't change.

[robivi3]

We live in Florida where Insurance Companies like AIG (great are they among the rapists) have a free hand to rape and plunder at will. Yes, there was a major hurricane, yes they had a payout. However for many years prior they still raped and plundered and made gazillions of dollars off of Florida, one of the most populous states in the Union.

All the Dems and Reps have catered to these powerful companies, Florida is the money maker.

[cloudship]

Anyone know if Massachusetts is regulated on whether or not they can up your rates? I know our insurance premiums are state regulated, but I am not sure if they can surcharge due to credit rating.