Auto Insurance utilizing credit info

[Anonymous]

I didn't find anything recent but am appalled that my credit score is over 700 but my rate was jacked up 40%; my fiance has been with this company for over 30 years but nothing will change.

What companies out there ARE good/trustworthy to move to?  Allstate?  Unsure but I've heard Geico & Progressive are not.  Would need Homeowners as well.

Thanks!

[MidnightVoice]

I have had good luck with Progressive, and the rates are competetive.  Never had a problem

[Anonymous]

i also like progressive.  low rates and easy claim filing.

i've only had to file one, for a cracked windshield, but it was no hassle.

also, they dropped my rrates for being a customer for 3 years.

good customer service too.  no complaints at all

[Anonymous]

That is wonderful to know - I will have to check them out...it seems like it does not matter at all that my sweetie has been with AmFam for 30+ years...

Thanks again for the tips!  I like being noticed for loyalty!

[Anonymous]

We've been with Progressive for our homeowners for 3 years. Got our yearly renewal notice a few weeks ago, toward the top of the first page it said:

Thank you for being our customer for 3 years!!

Read on down the letter to see the rate increased over $300/year. I was shocked, because I knew they soft my credit report and my credit has MAJORLY increased since the last renewal. Called up our agent and told them to shop us around and ended up with a rate $300 less than our original rate with Progressive.

[wmarat]

Amica has recently surprised me.

[fishbjc]

I've been w/State Farm for years and have nothing but positive to say. 

[mymoneynow]

From my understanding, all insurance companies are soft pulling now. Everything is tier rated, meaning your rate will depend on your credit history, not just your ficos. The better your credit report, the better your rates. If you have blemishes, then your rate is surcharged. Just like the banks and credit cards using credit history to determine your

interest rates.

BTW, some insurance companies will not write your homeowners coverage if you have a BK. 

We have been insured with Nationwide Insurance Co. for 15 years, home and cars, rates have held steady with increases only when home value increased. No large premium jumps for us. Had a hail storm a few years back, they sent an adjustor within 48 hours, he climbed on roof, wrote us a check on the spot, told us if we had any trouble getting the roof replaced for the amount of the check just call him. No problem, very prompt, fair, and actually the check was $270 more than local contractor charged us, so money in the bank for us! 

[Anonymous]

When we switched agents (same company though- State Farm) they did a soft on us. then jacked up the quoted rates. They admitted it was due to credit file when I asked. that was two years ago.

So I called them last week to ask when/ if they would check again,and told them that DHs credit has drastically improved, and I know that our credit factors in to our rates. I asked if they'd be checking again at the first of the year or something, b/c we wanted our rates lowered. The girl I spoke with was clueless and said she'd have to call the underwriters and get back to me. Anyway, she eventually left me a voicemail that said, "I can't get the underwriters today but I asked (agent) and he assures me your policies (four of them!) won't be adversely affected."

Idiot. Did she even understand what I was asking? Seriously! They jack it up when you apply, and when you ask them to re-check b/c your credit has improved, they act like *bleeping* morons,

I'm going to call the agent tomorrow and tell them to lower our rates or we walk.

Oh, and we've never had a single claim.

Message Edited by Bzzzymom on 11-24-2008 10:28 PM

[Anonymous]

Our experience with Nationwide- they pull once a year-soft pull. It will be listed on your CR.

If credit history has improved greatly, I would definitely ask Agent to submit a request to Home Office underwriter to re-underwrite based on credit file.

Some companies even have "Best" policies for great credit ratings where you automatically receive higher limits on personal property-contents than the usual 50% of home value. Also jewelry, golf, electronic equipment is also insured at a higher automatic limit on these policies.

I recommend everyone get an insurance check-up every couple of years to see if you need any additional coverages and if you qualify for the company's "best" plans and rates. 

BTW, Identity Theft coverage is built into many homeowners plans now. Check with your agent for coverage specs.

OK I am beginning to sound like an Insurance Sales Commercial- you can turn the channel now!