Shopping for car insurance

[Anonymous]

So thanks to this board I got a false derogatory off my report and my score has gone up over a hundred points since then.  So since my esurance auto policy is up for renewal I called them and told them I wanted a better rate and they wouldn't budge. 

I went to get a quote from Progressive who I used a year or two ago, and it's $550 cheaper if I pay for six months up front!  Cha-Ching, and that's with the same coverage and without the Orwellian spy camera progressive gives you a discount for.  Homie don't play that.  Still going to shop Geico and a few others but very pleased with the difference.  Now I can go on vacation this year and not have to worry, $550 was just the wiggle room I needed to make it happen. 

To anyone up for renewal after a big credit increase, get quotes for competitors and shop around, no reason to pay too high a premium like I was about to do.

[Anonymous]

I recently had a similar experience with my credit report and contacted my current provider (Progressive) to do a new soft pull on my credit and get me a revised rate. That was yesterday afternoon and by this morning I had new documents showing that my rate had dropped by more than 20% saving me over $350 for the next year. They were incredibly helpful and understanding through the whole process.

Though, it is worth noting that it is Federal Law that allows anyone to be provided an updated credit report in the case of misinformation having been corrected (not just for credit report improvement). This law gives you the ability to request that anyone who has pulled your credit within the past 6 months to be given the corrected report (or 12 months in CO, MD & NY.) In the case that the person who pulled it was an employer, it goes back 24 months per Federal Law. 

I've found that once I mention "Federal Law" I usually don't have any trouble getting the issue resolved or at least transferred to a more competent CSR or Analyst. 

Best of luck, and congrats on getting that derogatory off your record!

[greent]

I had a similar experience. My insurance rates went down. I shopped around and ended up with Geico. They were the cheapest.

[j615]

OP: That's wonderful news. Anything to save money always helps.

On the other hand, I don't ever recall an auto insurance company ever running a credit check on me before (State Farm, Farmers, AAA). Does this happen with certain carriers only?

[Anonymous]

According to the agent at esurnace I spoke with the all do it but its a different fico scale that only insurance uses.  Like how mortgages use a specific fico, idk, but yes they all do it.

[Anonymous]

Sorry to double post.  I signed the policy and paid 6 months up front just now, full coverage, saved $500.  I am a 31 year old man, have never had 6 months paid insurance, always had to go month to month.  Just bought plane tickets for a trip in January and now with the money I am saving with this new insurance it gives me some breathing room to go on the trip and not have to eat ramen every day until then.  I just hope my credit doesn't dip down now though because I won't be making that steady monthly insurance payment anymore.  But I am paying credit cards monthly.  Should be fine, either way very excited to have liability, collision, towing, low deductible, everything I wanted and have enough money to snowboard this winter.  Fingers crossed for no accidents or tickets in the future.