Insurance Scoring (Credit Checks)

[justbroke]

I hadn't noticed that it was such an old thread. Perhaps the moderators should lock an old thread so that a member can't continue it.

I am a moderator and we don't lock the threads in case the original poster comes back with more information to update their status. Since bankruptcy (and non-bankruptcy) law changes over time, it's also likely that the underlying opinions expressed in the thread could be off based on any modifications to the law. The main reason is that the original poster, and other people that were participating, are likely gone after their discharge. The site owner has not decided on whether the really old threads should be locked.

[joshuagraham]

joshuagraham please re-read the forum rules and do not open up old threads. In the rules you'll see that most people move on and will never see these responses or even respond. If it's new information it may be better to open up a new thread and have a new discussion about new trends (such as driverless cars).

I hadn't noticed that it was such an old thread. Perhaps the moderators should lock an old thread so that a member can't continue it.

[justbroke]

joshuagraham please re-read the forum rules and do not open up old threads. In the rules you'll see that most people move on and will never see these responses or even respond. If it's new information it may be better to open up a new thread and have a new discussion about new trends (such as driverless cars).

[joshuagraham]

Yes. We did have a claim. Someone broke into our garage and stole our guns. We got pennies on a dollar as far as "reimbursement".... and now, our homeowners has almost doubled. It is absolutely disgusting, but nothing will be done about it. You know why? Because our darned government is not ran by our elected officials. It is ran by the banks, wall street, insurance corporations and other very wealthy and powerful people.

No, it shows that you probably either live in a high-burglary area or you aren't deterring burglars well enough.

I've had burglars steal my washer & dryer (yes, aside from perhaps a cup with $10 or coins, that's all they took). I didn't bother reporting it. What I did do is make sure that whenever I go away somewhere overnight, I board up all the windows from the inside, and I've installed a lock on my gate-door attached garage (that has a windowed wall with the house because it used to just be a carport). What do you know, aside from someone breaking some windows - only to be thwarted by those interior boards - no one was successfully gotten inside after that (and I now have put exterior boards on the windows in the back so that the burglars won't even get that far).

My next house will be new construction, and it is going to have metal exterior blinds on all the windows & doors so that it will like Fort Knox when I go away!

[joshuagraham]

The insurance companies checking credit is so wrong. People are filing bankruptcy or not able to pay their bills which destroys their credit is for different reasons from 10 years ago. A lot of jobs have been lost. If you lose your job and are on unemployment, it makes it difficult to pay for everything that you were prior to losing your job. This insurance scoring seems so unfair. Things have changed in our economy and it has absolutely nothing to do with me or my husband being fraudulent or being a risky driver.

I think it is absolute bull crap that they charge us more money for car insurance that we are required to have just because we have had economical stress due to the economical changes in our nation. Insurance companies equal big money. Big money equals power with the government.

Soon there will be driverless cars - available to folks as either standard owner-operated or as driverless taxis - and with it, all the problems with liability insurance.

[ksgirl38]

Yes, I think it would be better to wait until your policy is renewed to file. Check also about your homeowner's insurance. Having a BK on your record can and will have an impact on your rates, and/or your ability to get insurance. We did not have the trouble with our car insurance, but certainly did with renewing our homeowner's insurance.

No homeowners policy, but I do have a renter's policy that is only $15/month so I'm not as concerned about that one. That one doesn't renew until December. Thanks.

[AngelinaCat]

Yes, I think it would be better to wait until your policy is renewed to file. Check also about your homeowner's insurance. Having a BK on your record can and will have an impact on your rates, and/or your ability to get insurance. We did not have the trouble with our car insurance, but certainly did with renewing our homeowner's insurance.

[ksgirl38]

I'm considering filing within the next 1-3 months and I just found out yesterday that my auto policy is up for renewal in June. Currently I have some type of discount for good credit. I'm currently paid up on all bills and have a good credit score. Would it be better to wait until after that policy is renewed and I get that discount to file BK or would they go back and change it after they learn of the BK? Or does it matter at all? Thanks.

[IamOld]

It's with a company called Infinity Insurance, and yes, AAA is the broker. I don't have a problem with that if they are the cheapest for me as the bottom line! I have learned the hard way that keeping AAA is invaluable also, especially on older cars and with teens. They have bailed me out a time or two with excellent customer service.

Nice!!! They look like a regional car only insurer...that is good news...man, with teens, good news!!!

[Clabbergirl]

It's with a company called Infinity Insurance, and yes, AAA is the broker. I don't have a problem with that if they are the cheapest for me as the bottom line! I have learned the hard way that keeping AAA is invaluable also, especially on older cars and with teens. They have bailed me out a time or two with excellent customer service.

[IamOld]

THAT is an awesome rate (I have a teen on ins too!) - may I ask who the ins co is? AAA is your broker, essentially, not the ins co BUT that is a GREAT rate!!!!

I called AAA and they found me a monthly rate of $175, which is $41 less than the best my Farm Bureau agent could do, and $90 less than I was paying with my lien-carrying previous car. It's not great, but considering the situation with teens, I think it's pretty good.

I did shop around with several of the biggies...they were all in the $200-$300 range. I wanted to laugh in their faces when they'd come back with a $300/month quote on three cars 9 yrs or older, liability and uninsured ONLY, no DUIs or speeding tickets. Seriously? It's like you're gambling with your insurance money. The state says you must carry the service, but if you use the service you've been mandated to pay for all these years, you're going to get penalized heavily and repeatedly. Ugh. There's my rant for the day. Oh and AAA apparently hasn't done a credit check.

[Clabbergirl]

I called AAA and they found me a monthly rate of $175, which is $41 less than the best my Farm Bureau agent could do, and $90 less than I was paying with my lien-carrying previous car. It's not great, but considering the situation with teens, I think it's pretty good.

I did shop around with several of the biggies...they were all in the $200-$300 range. I wanted to laugh in their faces when they'd come back with a $300/month quote on three cars 9 yrs or older, liability and uninsured ONLY, no DUIs or speeding tickets. Seriously? It's like you're gambling with your insurance money. The state says you must carry the service, but if you use the service you've been mandated to pay for all these years, you're going to get penalized heavily and repeatedly. Ugh. There's my rant for the day. Oh and AAA apparently hasn't done a credit check.

[IamOld]

try liberty mutual!

[debtprison]

I've been angry about the scam of insurance scoring since I first learned of it, but until those in power have bad credit...I don't imagine it will change. I'm currently shopping for car insurance and my BK should be discharged any day. Anyone want to recommend a company? I feel my current auto agent isn't working in my favor.

I had auto insurance on 3 vehicles - a 4 year old Toyota Matrix with comp/collision ($500 deductible), a 95 Merc Tracer, and a 93 Saturn...the 2 latter being paid for and carrying liability only. I'm 43, divorced, with teen drivers at age 19 and 16...the 19 year old wrecked the Toyota when dodging debri in the road last year and has a couple of points on his license, making the rate $265/month. I understand the risk in teen drivers. They are both A students and the 19 year old is full time college. These are all locally driven vehicles with less than 16 miles to work/school.

NOW, however, I've let the Matrix go back and replaced it with a paid-in-full (yea!) 2002 Toyota Corolla. liability and uninsured at the TN state minimum for all 3 cars, no more accidents or tickets (knock on wood), and the rate is going to be $216/month? A savings of $50/month? Does that sound reasonable for those in southern states? It seems a bit much to me wen I consider I'll be paying $2600/year for 9, 16, and 18 year-old cars!

This is the quote from my current agent - having gone shopping yet and whipped out the credit score. Can I expect worse rates at other companies?

I've had people try to quote me $180 a month for just myself, liability only on a 18 year old vehicle! It pays to shop around. In actually my current rate is about $50 a month. I usually found 20% are sky high, 60% are about average, 20% are below average. It pays to find that 20%. And don't just stick to the big name companies like Geico.

[IamOld]

Try Liberty Mutual (www.libertymutual.com) - AND do NOT do it online - on the website you can locate local agent (employee of the company) do a face to face - if you go to their office, they can do the quotes there - there are ways around...things.

In addition, try to find a good INDEPENDENT agent who can quote multiple co's. However, with teens...it's hard. BUT give these two ideas a try.

You can also get a bit of a discount if you have renters/homeowners ins with the same co that you have your car ins through.

Also, does your employer offer any access to such ins through...the employer?

I've been angry about the scam of insurance scoring since I first learned of it, but until those in power have bad credit...I don't imagine it will change. I'm currently shopping for car insurance and my BK should be discharged any day. Anyone want to recommend a company? I feel my current auto agent isn't working in my favor.

I had auto insurance on 3 vehicles - a 4 year old Toyota Matrix with comp/collision ($500 deductible), a 95 Merc Tracer, and a 93 Saturn...the 2 latter being paid for and carrying liability only. I'm 43, divorced, with teen drivers at age 19 and 16...the 19 year old wrecked the Toyota when dodging debri in the road last year and has a couple of points on his license, making the rate $265/month. I understand the risk in teen drivers. They are both A students and the 19 year old is full time college. These are all locally driven vehicles with less than 16 miles to work/school.

NOW, however, I've let the Matrix go back and replaced it with a paid-in-full (yea!) 2002 Toyota Corolla. liability and uninsured at the TN state minimum for all 3 cars, no more accidents or tickets (knock on wood), and the rate is going to be $216/month? A savings of $50/month? Does that sound reasonable for those in southern states? It seems a bit much to me wen I consider I'll be paying $2600/year for 9, 16, and 18 year-old cars!

This is the quote from my current agent - having gone shopping yet and whipped out the credit score. Can I expect worse rates at other companies?