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Posted in Auto Insurance
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Question By
aubladytiger53

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My auto insurance is paid every 6 months for full coverage and even though it is paid in full.
I pay 460.00 every 6 months and I also have towing and rental in case I need this in the future.

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Credit=Insurance $

Helpful to 16 out of 18 people

We just changed insurance carriers. We shop every year to see who has the best deal for us and to save us $. HOWEVER, it apprears that they "DING" you for shopping around becasue they sent us an "INSURANCE CREDIT REPORT" that stated we changed insurance companies too often. What the heck! Why doesn't the industry reward us for finding a good deal....or NEVER having a clain in 25 years?

It's ALL such a scam. Paying for something that never happens. Isn't that what the Mafia does?

Reply by
Chmarr

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Helpful to 8 out of 8 people

Um... your reward for finding a good deal is the good deal. However, a good deal for you is not a good deal for the insurance companies, and thus you get dinged. This results in not getting great rates from a company, because the chances of you flitting to another company are now proveably higher, so why should they bother courting you?

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Helpful to 3 out of 3 people

Shopping every year will hurt your chances of saving more money in the long run. Length of time with current insurance carrier is a major factor with certain carriers and also bodily injury limits. If you carry only 10/20 you will not get a favorable rate when shopping as compared to someone carrying 50/100 or 100/300. Jumping around yearly will not help you nearly as much as remaining with a single carrier for 3-5 years then making a switch. 

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Helpful to 11 out of 12 people

To be clear, as was previously stated, auto insurance is not a credit item.  Auto insurance premiums however, are affected by credit scores.  The insurance industry has its own model which evaluates risk factors based on an individual's credit history.  The industry maintains that statistically, people with lower credit scores have a higher claims percentage.

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Williams0614

Helpful to 5 out of 7 people

why when you apply for insurance do they check your credit score if it does'nt efect your score, I am 67 years and have not made a claim in 20 years but they still wont to charge 2300 a year untill I tell them I am going to another company, then they cut my premiums in half

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Helpful to 5 out of 8 people

As this was posted in Auto Insurance, it lacked an actual questions.  Did you have a question as it relates to auto insurance or an auto insurance score?

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Auto Insurance

Helpful to 2 out of 3 people

I'm with Allstate Insurance and I pay $1,360 every six months.  What insurance company should I go with for a reduction of premium?  Thank you

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Why do I pay for others bad driving?

Helpful to 1 out of 1 people

Why are insurance companies allowed to steel from you. I have an exemplary driving record no claims, tickettes etc. I was recently caught in the hail storm in Tx. and had comprehensive dammage. less than a week after the claim the ins. co. raised my rate #300.00 claiming it was a cost of living increase for other peoples claims! This is theft.... 

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Helpful to 1 out of 8 people

Auto insurance is not a credit item so will not have any impact on your credit score. It is an expense that must be paid foir the privilege of driving.

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