DENIED AUTO INSURANCE...RIGHT BEFORE BUYING NEW CAR........

[bella1013]

Hi everyone! So so confused.  for the past year, I have been listed on my fathers auto insurance policy as a driver.  I am planning on leasing a new vehicle so he called about a month ago and listed me as an "insured".  On 04/30/14, we received our new policy in the mail with new insurance cards listing both our names.  Awesome! Literally going in two days for my new car!!! Then today, i receive a letter in the mail from my insurance agent that I was denied coverage.  I'm assuming it is related to the auto insurance but not 100% sure.  Could I have been denied becoming an insured on the policy? Even after we received our new policy and cards not even 10 days ago? So confused.  Can anyone help? (Been trying to reach my agent to find out and of course he isn't getting back to me)  Thanks everyone! 

[pizzadude]

Do you have any recent tickets / claims or anything else that might warrant them denying?   Also did they provide any reasons with the letter?

[bella1013]

No nothing.  it was a standard letter with all the possible reasons listed like credit, etc.  (which my credit is good) Just confused especially since we were already sent our new policy and ins. Cards.

[spike69]

Call your insurance agent. It can be a simple issue of data that the insurance company needs and the agent did not get to them.

[Creditaddict]

What company?

Sounds like you should call a different one!

[mtrsprt]

What is your age?  FICO credit score? driving history?  Location?  Miles driven per year?

These are the factors used in auto insurance underwriting.  (FICO score and driving history make up about 60% of your premiums) with miles driven per year next.

[Remember0]

Just get another insurance company. There's plenty to pick from honestly. Sometimes insurance underwriting is werid, and they decide to not insure someone for some random reason. With a clean record, plenty of companies will be eager to give you a policy.

[TVP125]

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@Remember0 wrote:

Just get another insurance company. There's plenty to pick from honestly. Sometimes insurance underwriting is werid, and they decide to not insure someone for some random reason. With a clean record, plenty of companies will be eager to give you a policy.

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I agree... Go with a different company, Im sure there is a dozen other company's willing to write you a policy. When I bought my first car I didn't have insurance and opened a new Geico policy right on the dealerships computer. 

[coterotie]

Another reason for denial is overexposure or too large a market share in the area.  Happens alot down here on the coast.  The company looks at total exposure to catastrophic events and reduces the amount of insurance it will write in a particular zip.  Sometimes they will say this is the reason, other times they will just come up with an excuse.

You should shop your insurance at least every two years, I always shop it when purchasing a new vehicle.