My auto insurance renewed this month and it went up. I decided to look around and made a startling discovery. I am ineligible for insurance at most agencies. I was in shock. I couldn't figure out why. So I pulled a report that the insurance companies use to determine you insurance score. Apparently I am a below average risk. What makes me a below average risk you ask? Well I have opened too many accounts in the last 24 months. Industry research shows that people that use their credit are more likely to file claims. What else? I have retail store cards...and, you guessed it, industry research shows that people with retail store cards are more likely to file claims. So although I am not using my cards anymore they are still biting me in the butt. I guess I will have to stay where I am. It didn't go up much so that is good.
I got a quote from my current carrier for homeowners to combine everything. It is double what we are currently paying for homeowners insurance. He said that the only thing he could think of is that the policy we have now will only pay depreciated value and the policy he quoted me pays replacement value. Have any of you heard anything like this? I have never had homeowners insurance so I don't know if that is legit or not. And if it is legit, which is the better policy to have?
Auto Insurance Blues & Homeowner insurance question
September 22nd, 2016 at 07:32 pm
September 22nd, 2016 at 09:14 pm 1474578852
And while you're comparing prices - you may want to see if the current carrier for your homeowners policy would quote you an auto policy. (instead of the reverse)
September 23rd, 2016 at 12:43 am 1474591429
By the way, would you consider changing the colors on your blog? I've always found it very hard to read the pink font on black, and also the pink font with blue background.It kind of hurts my eyes. Just a thought.
If you want to save money on the car insurance, how old is the car? Most people say you can drop collision and/or comprehensive if the car is at least 6 years old. I'm planning on dropping my collision next year, and my car will be just 4 years old, but if you look at the policy, collision alone costs quite a bit. It's a calculated risk; if you do a lot of driving in heavy traffic, it may not be a wise choice. But anyway, you can legally drop either one if that's what you like.
September 23rd, 2016 at 12:53 am 1474592032
September 23rd, 2016 at 06:37 am 1474612639
September 23rd, 2016 at 11:01 am 1474628463
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September 24th, 2016 at 03:09 am 1474686549
That's too bad about not being insurable due to opening too many accounts.
September 24th, 2016 at 03:43 am 1474688587