Credit Cards Center Credit cards from our partners
Reply
roo
New Member
Posts: 6
Registered: ‎09-18-2012
0

insurance quotes of $500 a month, havent driven in 4 years

[ Edited ]

had 2 driving on suspended license 7 years ago, and a few car accidents before that, but its 4 years of clean history. I dont understand, or where I would look to even see if this is legal. State is Michigan

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: insurance quotes of $500 a month, havent driven in 4 years

Did they cite the license issue? Did they cite the accidents?

 

Are you trying to get a quote with the same company you had before? Maybe they have a long memory.

Frequent Contributor
Posts: 305
Registered: ‎07-05-2011
0

Re: insurance quotes of $500 a month, havent driven in 4 years

Is this from the information that you provided about your driving history, or is it from their national data base, or is from the insurance company pulling your driving liscence history from their national data base or the DMV?

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Moderator
Posts: 13,897
Registered: ‎04-15-2011
0

Re: insurance quotes of $500 a month, havent driven in 4 years

Wow... sounds high.  I'd check around if I were you.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Highlighted
Established Contributor
Posts: 992
Registered: ‎05-14-2008
0

Re: insurance quotes of $500 a month, havent driven in 4 years

No history over the last four years, bad history before that, it is not surprising that they are quoting you such a number, you are an unknown to them.  I'd call them and see if they can work with you on the quote.  If not, then shop around.

Frequent Contributor
Posts: 388
Registered: ‎10-26-2009
0

Re: insurance quotes of $500 a month, havent driven in 4 years

There are other factors to consider as well:

 

1.  What type of car(s) are you trying to insure?  A corvette will run you much more than a beater.

2.  What about higher deductibles?  The higher you go, the cheaper the insurance.

3.  Are you getting comprehensible?  For my 20 year old twins we only carry liability on their cars.  Much cheaper that way.  I only carry liability on my Jeep because of the age of the car.  I consider these three cars "disposable".

 

Definately shop around.  Good luck!



Starting Score: TU 672 EQ 654 10/20/09
Current Score: TU 775 EQ 783 EX 799 (PLUS)
AMEX Delta Platinum $35K, NFCU Visa Signature $30K, HHonors Reserve Visa $35K, WF $13.5K, IHG Rewards Club MC $25K
roo
New Member
Posts: 6
Registered: ‎09-18-2012
0

Re: insurance quotes of $500 a month, havent driven in 4 years

I believe you are spot on, no driving history in4 years, and bad history before that, but duis, only 1 accident, and one driving without insurance, and one driving with suspended license. Sounds like ill ahve to wait a year before it goes down. Anyone know a good insurance broker that can farm out many quote from many companies. I have liberty mutual now. Paying 188 a month on plpd, for 2000 chrylers concord, clunker.

Established Member
Posts: 22
Registered: ‎04-24-2012
0

Re: insurance quotes of $500 a month, havent driven in 4 years

Try Mercury Insurance

Valued Contributor
Posts: 2,512
Registered: ‎11-11-2010
0

Re: insurance quotes of $500 a month, havent driven in 4 years


roo wrote:

I believe you are spot on, no driving history in4 years, and bad history before that, but duis, only 1 accident, and one driving without insurance, and one driving with suspended license. Sounds like ill ahve to wait a year before it goes down. Anyone know a good insurance broker that can farm out many quote from many companies. I have liberty mutual now. Paying 188 a month on plpd, for 2000 chrylers concord, clunker.


Actually that IS a lot of bad history. Is this $500 quote for a new car?

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Regular Contributor
Posts: 237
Registered: ‎07-13-2012
0

Re: insurance quotes of $500 a month, havent driven in 4 years

In my state, things can stay on your driving record for 6 years.  What you list would give you a good ding and a big surcharge. $6000. per year for ins is possible.

EX 638 (Lender 9/1) TA 650(Walmart 9/1) EQ 655 (FICO - 9/17)
Goal - 700 Club in '13!!!

My Wallet - Cap 1 - $300. Cap 1 - $750. Orchard - $950.
New as of 8/29 - Target - $3000. Barclay's - $2000. Merrick - $1000. Walmart $600. And as of 9/22 - JCP $200.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.