someonesomewhere Posted November 9, 2007 Report Share Posted November 9, 2007 Well, I got zinged on homeowners insurance. Got the policy today. They pulled ChoicePoint and cited adverse credit issues for not giving the best possible rates on homeowners insurance. State Farm.I've submitted online requests from ChoicePoint, and I'm counting on inaccuracies there.Washington State Insurance Commissioner's webpage had some useful info on credit and insurance.http://www.insurance.wa.gov/factsheets/factsheet_detail.asp?FctShtRcdNum=16http://www.insurance.wa.gov/publications/factsheets/credit_scoring.pdfThe insert citing ChoicePoint said if you've had job loss, divorce, medical, blah, blah, blah contact your agent for a review. Sorta pro-actively inviting you to ask them to show goodwill. Anyone tried and had success with State Farm? Link to comment Share on other sites More sharing options...
sgip2000 Posted November 9, 2007 Report Share Posted November 9, 2007 ChoicePoint tracks prior insurance claims. You should be able to access your reports online. Link to comment Share on other sites More sharing options...
someonesomewhere Posted November 13, 2007 Author Report Share Posted November 13, 2007 ChoicePoint tracks prior insurance claims. You should be able to access your reports online.I made the request online, but they are mailing the results. ChoicePoint must track other stuff as well. Insert from insurance citing ChoicePoint reported:Your premium was influenced by information from consumer reports:Number of accounts opened in the last 12 monthsNumber of accounts ever 30 days lateAccount with current delinquency reportedAverage number of months open for all accounts Link to comment Share on other sites More sharing options...
sgip2000 Posted November 13, 2007 Report Share Posted November 13, 2007 Most do a soft pull on CR as well as the ChoicePoint C.L.U.E reports. The ChoicePoint reports have more weight than CR. It may list those reasons as why you're not getting the "best" price; however, in my experience CR doesn't have much of an effect.Have you made any loss claims in the recent years? Link to comment Share on other sites More sharing options...
someonesomewhere Posted November 13, 2007 Author Report Share Posted November 13, 2007 Have you made any loss claims in the recent years?SWMBO had a car accident in 2000 in which she was at fault. However, this is for home owners. They've never pulled CRs for car insurance on us. Link to comment Share on other sites More sharing options...
sgip2000 Posted November 13, 2007 Report Share Posted November 13, 2007 Unfortunately, they pull loss reports for ANY loss. Even not-at-fault accidents. Some states ban the practace of raising rates for not-at-fault losses. I know it sucks, but on the bright side, you're probably still better off sticking with the same company. Most of the time, switching companies with a loss reported will cause a larger premimum increase. Link to comment Share on other sites More sharing options...
Lyssarene Posted November 14, 2007 Report Share Posted November 14, 2007 Sometimes they cite it... but it didnt have any affect on the rate. Your agent can tell you if you got the best rate or not. Progressive sent the disclaimer on my jet ski insurance(FYI big class action not long ago on all this w/ insurance companies and credit reports) - I got the best rate but they were doing a CYA and sending the disclaimer anyway about how it is used etc. Link to comment Share on other sites More sharing options...
someonesomewhere Posted November 16, 2007 Author Report Share Posted November 16, 2007 Unfortunately, they pull loss reports for ANY loss.I kept checking, and I've got on car insurance a clean claim history. 2000 must be too old for State Farm.Sent off a GW Email to my agent asking for a rating review. I'll see where it takes me. Link to comment Share on other sites More sharing options...
browneyedgurl4 Posted November 19, 2007 Report Share Posted November 19, 2007 My dh and I just recieved a letter from our insurance co. (American Family) that said they pulled our credit and we will not be getting the best rate for our homeowners ins. due to problems on our credit. I am concerned how much more they will be charging us for this. I have heard it from others that our premium could even double! What the heck? Anyone had any experience with this?What can we do to avoid this? We really like the company we are with, and don't really want to have to switch. Link to comment Share on other sites More sharing options...
jq26 Posted November 19, 2007 Report Share Posted November 19, 2007 You don't have any recourse. Get a new insurance company if they employ this practice and are about to jack your rate. In fact, I suggest to everyone that they shop around annually. There are wide discrepancies with insurance rates. With a BK7 in 2004, last year my car insurance rate with Progressive was $1300/year for $50k of LIABILITY ONLY and LIMITED TORT. This is state minimum insurance. This year, I switched to Liberty Mutual and my rate is $670/year for FULL TORT, $500k LIABILITY and FULL COLLISION. Plus, they wrote an additional $1,000,000 umbrella policy for $240 that covers additional liability related to two homes and two vehicles. For a rental property, AllState quoted me $2700/year for multi-family dwelling homeowners. Liberty Mutual wrote the exact policy for $1150.In short, SHOP AROUND. Rates can vary by a few hundred percent! Link to comment Share on other sites More sharing options...
miracle Posted November 25, 2007 Report Share Posted November 25, 2007 As far as State Farm's CLUE report goes.. contact your agent and ask them to contact the underwriter to let them know there are major inaccuracies. Yes, credit aspects has some to do with it. They should re-review it once it is all fixed. It may take some effort to get someone to listen you.... but State Farm has some things in place for these situations. Link to comment Share on other sites More sharing options...
someonesomewhere Posted November 28, 2007 Author Report Share Posted November 28, 2007 Thanks miracle! State Farm Emailed me last week. Underwriting will review what I sent them, and they said the rate is only affected a small amount by credit. We'll see what happens. Link to comment Share on other sites More sharing options...
sgip2000 Posted November 28, 2007 Report Share Posted November 28, 2007 Some states have restrictions on when an insurance company can pull credit/C.L.U.E. reports.In Oregon, they can only pull when the policy is written, not at renewel. That's why is better to stick with your current company a lot of the time. Link to comment Share on other sites More sharing options...
someonesomewhere Posted December 3, 2007 Author Report Share Posted December 3, 2007 In Oregon, they can only pull when the policy is written, not at renewel. That's why is better to stick with your current company a lot of the time.Good point. Only State Farm, at least in my case, always pulls TU. Guess they never heard of *b* Link to comment Share on other sites More sharing options...
jetscarbie Posted December 4, 2007 Report Share Posted December 4, 2007 When I was fixing to close on my house, I asked my broker who was good with homeowners? He recommend a local agent for Allstate. The original homeowners insurance included in my good faith estimate was 2200 a year....wow.My agent with allstate gave me a platinum package with sump pump added for $497 a year. They NEVER did any credit check on me. Link to comment Share on other sites More sharing options...
jq26 Posted December 5, 2007 Report Share Posted December 5, 2007 My agent with allstate gave me a platinum package with sump pump added for $497 a year. They NEVER did any credit check on me.Allstate did a credit check on me when I applied for homeowner's. Their price was ridiculous. I guess it all depends on one's situation. I used them for the closing and then swapped policies about two weeks later. Link to comment Share on other sites More sharing options...
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