Question about inruiries (2 part deletion and combining)

[Anonymous]

So recently I was up for renewal on my insurance and when I received my rate quote I was surprised to see q $200+ a year increase. I contacted the insurance company to find out why and was giving the reason that I had some issues on my credit report. At first thought I figured it was the loan I had with citi financial over a car that was totaled and they had givin me a 30 day late on. I got that cleared up on all 3 reports and called back to the insurance to get them to repull my credit. They did and redid my policy and it dropped a whopping $22 from the original raise(still up about $185 a year). Come to find out they also look at inquiries on your credit report and that is where my questions come into play.

In the beginning of this year I started the process of building a home. I first started out with the builders finance company who approved me for everything. Then at the last minute they changed their decision. From this I ended up with a hard pull from them but no financing. My first question is, Can I ask/have them remove this since they didn't keep their end of the deal(finance me)? 

Ok the story continues. I then switched to another company and they ran my credit and approved me again(another hard pull) At this time my house is about 5 months out from being completed all that we are waiting on is sending out to USDA to get funding secured and then closing. About a month prior to closing they pull my credit again(another hard pull) to make sure nothing has showed up on my report and so on. My question here is, Is it possible to get the to combine these into one or maybe possibly delete one?

Sorry for the long story but I figure the more info the better chance of getting an answer.

[Anonymous]

I would find it hard to believe that a $200 rate increase was due to 3 inquiries 1 of which is a year old if I'm reading your timeline correctly.

3 HP isn't really much - not really enough to warrant a huge increase like that as long as everything else is kosher.  I'd also be willing to bet that the second time they pulled your credit, they probably counted their first pull against you.

But then again, they may need to just raise rates in general.

Have you started shopping around at all - is their new price in line with others? Insurance is a funny thing, they claim that its in the statistics, but honestly if it was all about statistics, insurance companies would loose money.

I'd be more willing that there is some geographical and/or age issue that is really at play when it comes to the jump in increase - i.e. if they recieved a much higher claim amount for your zip code or something like that.

After I had my home forclosed I shopped around for car insurance and my rates only went up $5/month ($60/year difference) after the fact -I stayed in the same zip code and was already over 25 at the time....

I have a hard time believing that 3 HPs gave you such an increase.

[Shogun]

What insurance company are you with?  I also find it hard to believe that 3 inquiries would raise your rates like that.  Seems a little dramatic to me.  Maybe you were just over the threshold to another rate and the points drop put you in another insurance bucket.  I'd shop around a bit, maybe see if there's something better.

[Anonymous]

Trust me I had and am still having a hard time understanding how this is justifiable on their part. It is weird because when I moved to my new home and called to add my house my rate went down due to adding a home policy. Then when we actually moved in and I changed my address my rate went down(we moved into a nicer area with less crime and traffic) I have shopped around and the rates are not identical to my old rate they are a few dollars cheaper. I guess the loyalty discount is the deciding factor there.

As for the age issue I am 28 no tickets in about 6 years, no at fault accidents and no claims period. Been them(progressive) for 8+years

After chatting again yesterday with someone there I was told that the 3 pulls dropped me from a A rating to a C rating. I think the problem is that I was paying to little and they realized they messed up.(2 cars 100/300 limits was $35 a month) As dumb as that sounds its the only thing I can come up with 

[Anonymous]

I am with progressive. As for points drop that cant be the case my credit scores have went up from around 670's up to 730's so I dont see that being the issue.

Never the less do you all think I should attempt to delete the inquiries or no

[Anonymous]

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@Anonymous wrote:

I am with progressive. As for points drop that cant be the case my credit scores have went up from around 670's up to 730's so I dont see that being the issue.

Never the less do you all think I should attempt to delete the inquiries or no

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Trying to go the inquiries removed is going to be harder than pulling a tooth out of an angry donkey.

Since its pretty much factual - they inquired and the CRA can prove that they inquired about your credit report they don't just remove them.

What you could do is ask the company that did the HP to retract the inquiry. If they did it "just to see where you were at" they really should have done a SP, not a HP as they had no intentions on decided to (or not to) do buisiness with you based on your reports, offer you employment, or offer you credit or another business product.

I think if you sent a letter stating that you were just meeting with them for counciling on a future business term and was unaware it was a hard inquiry when they had no intenetions of offering you credit was though legal, not moral or ethical and that it is now directly causing you a hardship (a higher insurance rate) due to those inquiries as they are the only inquiries you have.

They may remove, they may not...

Another thing to look at - are the policies EXACTLY the same and on the same car that if anything would have gone down in value since the last time? Same coverage amounts, same liability, etc.?