Homeowners Insur Sky High after credit check

Anonymous · ‎09-13-2007

Anybody have their homeowner's insurance go up after they check your credit scores? This happened to us the first of the year. Figured our scores must be pretty bad. It went up almost 50%. Checked recently and they only checked DH TU score which is both of our worst scores.

scramblingin2007 · ‎09-13-2007

yes this happened to me that's why I am feverishly fixing my credit so when I'm up for renewal in dec. I can get a better rate.

Anonymous · ‎09-13-2007

yeah mine went up 50 bones a month =(

Anonymous · ‎09-13-2007

Move to California...in this state using credit scores to determine insurance rates is illegal.

Anonymous · ‎09-13-2007

I have never heard of this. You mean your ins. co can just decide at any time to pull your credit and charge you more? Don't they need your permission?

Anonymous · ‎09-13-2007

Our insur guy said that all insur co.s are going to be doing this. Maybe he said that so we wouldn't go with another co. We're in IL.

Anonymous · ‎09-13-2007

Did they ask for permission to use your scores to decide your premiums?. I know I received a letter trying to encourage me to let my ins. co. pull my scores to determine my pemium. I didn't bother to reply because I don't want to open up that can of worms. And this was earlier this year.