My Home and Auto Insurance went up and I mean way UP!!

[Blue_Ray]

All, thanks.

I have no accidents since I was 16. This was over 20 yrs ago. Wife and I both are safe drivers, never did any claim on home or car. Well except one, where deer ran across our front hood.



I called Geico, they are cheaper in auto for sure, at about 25.00 less, but home; Allstate is still cheapest so far...

I'm sad.

[6ftladycop]

What About Allstate Insurance

All of you who have Allstate insurance, have you had a problem with increases since bankruptcy discharge?

[Blue_Ray]

All of you who have Allstate insurance, have you had a problem with increases since bankruptcy discharge?

Nah it has nothing to do w/ BK or Discharge. What my agent told me was they do a credit check every three years. So with my luck, this credit check just happen and it is my 3rd year.
So this is why it went up. Bad credit score.

[showboat]

I have State Farm auto and home insurance. I was worried about them going up, but our auto insurance actually went down last month. Home owners stayed the same.

[familyof7]

I went through allstate

[seraph79]

Because most of us in this Forum have credit problems we do not want to hear about credit scores being use for insurance.
In Texas the State Board of Insurance asked Texas University and Texas A&M University to study the correlation of both good and bad credit history on the number of insurance claims filled.
The results showed the lower the credit score the more claims were filled. Better scores over 700 filled less claims. It just make sence to me.
With this information most states allow companies to use credit scores to affect insurance rates.
You can try to find a company that does not use this practice as a way to keep your rates low. Otherwise ask wisely and get the credit scores back up above 700.
regards,
emoney

From 1999 through 2003 I worked for Progressive Auto Insurance and I remember feeling the wrath of many a distraught policyholder because of increased premiums due to decreased credit scores. Credit scoring is considered with myriad other factors in determining a person's underwriting value. Now, while I can see the correlation the studies have made between credit score and claims filed, I'm not entirely convinced this is a valid reason for increasing premiums. People with lower credit scores also tended to carry highter deductibles across all lines and higher deductibles mean less risk exposure to insurers...but the studies you talk about don't mention this fact, due in part to the fact that insurance lobbyists were the primary funders and supporters in allowing the use of credit scoring to be used in determining risk.

Before my bike accident (which threw me over the edge in having to file for bankruptcy) my credit was pretty decent. I never had a car accident and never received any speeding tickets or traffic violations of any kind. I carried insurance as required by law and paid my premiums on time. But, now that I owe tens of thousands of dollars to creditors (doctors and hospitals) I am suddenly an irresponsible vehicle operator??? It's been over a year since my credit took a major hit--yet I still haven't had a car accident or any tickets...

Mike

[Bandit]

Before my bike accident (which threw me over the edge in having to file for bankruptcy) my credit was pretty decent. I never had a car accident and never received any speeding tickets or traffic violations of any kind. I carried insurance as required by law and paid my premiums on time. But, now that I owe tens of thousands of dollars to creditors (doctors and hospitals) I am suddenly an irresponsible vehicle operator??? It's been over a year since my credit took a major hit--yet I still haven't had a car accident or any tickets...

Mike

Wow. we are almost exactly the same. My car insurance keeps going down everytime it comes due mostly for age & safe driving record & probably being with the same place for a long time...no claims or tickets & all that.
My accident was due to a bike, a bicycle not a motorcycle but it still put me tens of thousands of dollars in debt. So that really is not fair for car insurance to go up due to BK as if we are a high risk driver. The funny thing is, if I had actually been in an insured vehicle & had the same accident then my medical bills would have been covered. What a twist on them

[Peevee]

I'm in Tennessee and my car insurance went up quite a bit. My home policy stayed the same.
I have Farm Bureau insurance.

[SinkingFast]

We're with Farmer's. So far no substantial increase on renter's or auto. No known credit check either.

We had a premium increase on one vehicle, but that's cause DD had an "at fault" accident back in the spring. The premium increased on the car she drives. But that's it.

One thing we do to help ourselves out with keeping rates lower is,......... We hire an attny if/when we get "moving violation" traffic tickets. Speeding tickets. Running a stop sign. Those types of things. It costs more to have the ticket amended to "Defective Equipment" but it sure saves on your auto insurance premiums.

[kenl02]

hi, i do know that nationwide DOES check credit, saw it on my credit report when i pulled it for my bnkrptcy, even though i dont own the vehicle i drive, i am listed as authorized user on my fathers vehicles...

Ken

[Cassiopeia]

All of you who have Allstate insurance, have you had a problem with increases since bankruptcy discharge?

I'm in FL so our situations aren't the "norm" due to the homeowners insurance problem here in the state. I had Allstate cancel my homeowners way back around the time I filed, BUT.....not due to BK (I'm sure of that) because they were doing "mass cancellations" all over the state. State Farm as well. I am now checking out a few other insurance companies for homeowners before my actual cancellation date.

My Allstate car insurance was just renewed. No change in rates because of BK. Only that PIP was dropped state-wide (at least for now).

So, in short.....no changes with Allstate caused by my BK.

[$$only4ever]

I have been with Allstate for over 30 years. My insurance never went up when I filed Bankruptcy in 2005.