State Farm Didn't Incrase My Rates!!!

[magyar123]

This is great to know, Flamingo - thanks. I'm having trouble finding anything about "credit profiling" in relation to auto insurance, though...is there another term for it? I'll keep digging for a list.

There is nothing officially on the books about credit profiling. It just happens in states which allow insurers to access your credit report and determine your premiums. You might have a perfect driving record, no tickets, no accidents, but if you have a bad credit history they can charge you more. These insurance companies claim that statistically people with bad credit have more accidents, claims, etc. Which is pure BS.
It's the same profiling BS like cops use in pulling over minorities in lily white neighborhoods, and/or airport security officials taking a "closer look" at folks of middle eastern descent.

[WoodSprite]

That could be and is probably it but know that if they pull your credit reports for any renewal and your state allows credit profiling, any insurance agency registered to provide insurance in your state can credit profile you and raise your rates. Some states have stopped that practice and do not allow it. If your rates rise in the future and your state allows credit profiling, your BK probably would be the cause of the rise. Our state eliminated credit profiling this past January and the advice was to those out there with bad credit or BK on their records to watch for any rise in rates and if they suspect the rise was due to their credit, to contact the Insurance Commissioner's office. Many states are banning the practice....be alert to that and I am glad your rates didn't go up and hope they stay down for you. It's so hard dealing with insurance rates and BK....Stay with them; if you go to a different carrier, you can bet the rates will be higher.

This is great to know, Flamingo - thanks. I'm having trouble finding anything about "credit profiling" in relation to auto insurance, though...is there another term for it? I'll keep digging for a list.

[chloe0724]

They said it's standard practice whenever you have a BK.

[Flamingo]

Flaming, they are definitly aware becasue we have a loan through them.

I hope it's because of our long realtionship and no accidents

That could be and is probably it but know that if they pull your credit reports for any renewal and your state allows credit profiling, any insurance agency registered to provide insurance in your state can credit profile you and raise your rates. Some states have stopped that practice and do not allow it. If your rates rise in the future and your state allows credit profiling, your BK probably would be the cause of the rise. Our state eliminated credit profiling this past January and the advice was to those out there with bad credit or BK on their records to watch for any rise in rates and if they suspect the rise was due to their credit, to contact the Insurance Commissioner's office. Many states are banning the practice....be alert to that and I am glad your rates didn't go up and hope they stay down for you. It's so hard dealing with insurance rates and BK....Stay with them; if you go to a different carrier, you can bet the rates will be higher.

[magyar123]

What reason did they give you for stopping the monthly auto deductions and sending you a full bill for six months?

[chloe0724]

Flaming, they are definitly aware becasue we have a loan through them.

I hope it's because of our long realtionship and no accidents

[Flamingo]

Your state probably does not allow credit profiling. If they do allow it, since you just recently filed your insurance company may not have had your BK filing information and they could rise before your next renewal. Call your State Dept. of Insurance and see if your state allows credit profiling.

[chloe0724]

I just got my new policy information in the mail yesterday and they didn't increase anything!! I was very worried about this because they had stopped auto debiting my payments. I did get a bill for the full 6 months instead of monthly like I had been previiously. I am so happy!!!!!!!