by DanWilliams » Thu Dec 03, 2009 02:55 pm
For those of you who are constantly searching for that "holy grail" of cheap car insurance policies...a quick look in the mirror is a good start.
The majority of companies are using your credit score/profile as a means of determining an adequate price to charge you. Many companies have hundreds of pricing levels compared to a few years ago when they may have had four or five price points. Some carriers suggest that some day an individual rate will be applied to each individual.
You want a great rate just like I do. I've worked hard to protect my credit and pay my bills on time. That gets me a much bigger discount on my car insurance today than it did just five years ago.
Get a copy of your credit report. Close out accounts that are old and not used any longer. Clear up any mistakes with the vendor who provided any incorrect information. Start keeping current on accounts you may have been occasionally late with. I'd suggest that within a few short months you will see an improvement in your score. That small improvement may help you find that magical rate you've been hoping for.
The majority of companies are using your credit score/profile as a means of determining an adequate price to charge you. Many companies have hundreds of pricing levels compared to a few years ago when they may have had four or five price points. Some carriers suggest that some day an individual rate will be applied to each individual.
You want a great rate just like I do. I've worked hard to protect my credit and pay my bills on time. That gets me a much bigger discount on my car insurance today than it did just five years ago.
Get a copy of your credit report. Close out accounts that are old and not used any longer. Clear up any mistakes with the vendor who provided any incorrect information. Start keeping current on accounts you may have been occasionally late with. I'd suggest that within a few short months you will see an improvement in your score. That small improvement may help you find that magical rate you've been hoping for.
Posted: Fri Dec 04, 2009 12:01 pm Post Subject: car insurance
Are you actually advertising your 'company'? What you say is true: Insurance comapnies DO look at your credit and driving record when considering a quote.
Posted: Fri Dec 04, 2009 01:28 pm Post Subject:
No advertisement, just some perspective for those who may wonder why they can't get a better price.
Posted: Sat Dec 05, 2009 02:39 pm Post Subject: insurance
I don't think it;s JUST the Credit someone companies look at. If the 'consumer' has a horrible driving record, etc. THEY should know they should know they won't get a 'good' price, even BEFORE they start applyng for premiums.
Posted: Sat Dec 05, 2009 07:46 pm Post Subject:
Depends on the definition of "Horrible" I've seen companies like Safeco give great pricing to risks with high credit score, over 6 yrs of college and terrible driving records. Can't understand why, but obviously Safeco has a model that's working for them that allows it.
Posted: Sun Dec 06, 2009 01:14 am Post Subject:
I'm really resisting the urge to mention that _all_ states should make this practice illegal.
Posted: Sun Dec 06, 2009 08:24 am Post Subject: insurance
There are states that are 'tougher' (lack of a better word) on drivers than others. However....I DO think there are some who aren't tough enough. For example: In the state of California, if you get caught with 3 DUI's, you can have your DL revoked. How do I know this?...my brother-in-law works for the Atty General's Office of Ca (in San Diego). he went before the Senate, in Washington DC and spoke about this law passing!! yep..it did!!
Posted: Sun Dec 06, 2009 08:26 am Post Subject:
That is being "tough"?
Posted: Sun Dec 06, 2009 08:29 am Post Subject: insurance
Yep!! IT is!!LOL With so many DUI's (in CA, anyway), if you get your DL revoked, for DUI's anyway, you can't gt Auto Insurance, for ANY reason.
Posted: Sun Dec 06, 2009 01:29 pm Post Subject:
I'm really resisting the urge
Oh Todd, go ahead and scratch that itch brother, you haven't had a good rant in a long while.. :wink:Posted: Sun Dec 06, 2009 09:32 pm Post Subject:
Credit ratings show that people with lower ratings are more likely to _file_ a claim... not that they are more likely to suffer a loss. Carriers should not be allowed to increase rates based on the fact that an insured is more likely to use the coverage that they are paying for.
"that is all I have to say about that..."
:D
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