Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Insurance
Profile Image

Question By
tuck1952

1 Contribution
6 People Helped
What is my auto insurance score ?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-10 of 12Results per page: 5 | 10 | 25Page 1 of 2   Previous | Next
1 Contribution
60 People Helped

consumer

Helpful to 60 out of 66 people

The practice of using a person's credit score to calculate car insurance premiums must be changed.  I am driving a car, not applying for a mortgage or asking for credit for purchases! Washing State Insurance Commission tells me this is standard practice, regardless of your driving record; if your credit score is poor - you will pay high insurance premiums.  Likewise, you can have citations on your driving record - but if your credit score is high, your premium will be less.  CONTACT YOUR STATE REPRESENTATIVE FOR YOUR DISTRICT AS THIS PRACTICE MUST CHANGE!

Virginia J. Johnson

Top Contributor

Reply by
Nomadre

666 Contributions
298 People Helped
Helpful to 20 out of 52 people

They have statistics that show people with certain bad credit habits are also more likely to sue, have a crash, and cost the insurance company money.  Why should the people who are not irresponsible have to pay to cover people who are.  The practice is a good one for people who take responsibility in all aspects of their life.

Reply by
digbgy

1 Contribution
36 People Helped
Helpful to 36 out of 42 people

Most companies only care if you have negative marks for non-payment of insurance. Source: I'm an insurance agent.

Top Contributor

Reply by
JohnnyRain127

1703 Contributions
1899 People Helped
Helpful to 11 out of 14 people

One can find out more about what in your credit profile might affect your insurance premiums...

-

https://consumer-solutions.custhelp.com/app/answers/detail/a_id/2523/~/how-do-i-learn-more-about-scores-and-reason-codes%3F

Reply by
lsw1121

1 Contribution
0 People Helped

Really Nomadre - I am a SAFE DRIVER with no accidents and pay out the a** becuase I missed a few payments on my car when it died and I had to repair it - why should I have to pay a higher rate when my driving record is spotless - people like you disgust me

7 Contributions
17 People Helped

Auto insurance ripoff

Helpful to 14 out of 17 people

Same deal for paying your utilities on time either. Many major utility companies will ding your credit for major lates (60, 90 120 days late)
but don't report your decades of positive payments

1 Contribution
15 People Helped

Discrimination against those who pay pre

Helpful to 15 out of 19 people

Why is it that (We) who pay their insurance premiums automatically are still being discriminated against because The Insurance Commission wants to call Demographics [MORE $] HIGHER RATES! How is this even Legal? This means we get a lousy credit score because of these bogus guidelines that are not independently set for the business reason intended! Come on America squash this and put it back on your families dinner table.

Top Contributor
666 Contributions
298 People Helped

Helpful to 13 out of 16 people

Per consumer reports "Cherry-picking about 30 of almost 130 elements in a credit report, each insurer creates a proprietary score that’s very different from the FICO score you might be familiar with, so that one can’t be used to guess the other reliably."

Therefore unless we get lucky and find someone in the industry to post on the boards, we can only guess.  but infact this is not much different than what we do with all scores, since we do not know which FICO system or even other scoring system anyone uses.  But we can know that if we are pushing up our Vantage score, it can only help with the insurance scores and visa versa.

1 Contribution
4 People Helped

Check this one out

Helpful to 4 out of 4 people

I was in a friends car, was rear ended my insurance did NOT pay off the claim. Because I was unable to work due to injuries, I couldn't work (age 68), thus could not pay bills. HERE IT COMES: I got aletter from American Family saying that they were raising my rates because of my low credit score. Before the accident, I had great credit and paid my bills on time.

1 Contribution
3 People Helped

poor score more likely hold of suing?

Helpful to 3 out of 3 people

My insurance company told me that a person with a poor credit score is more likely to sue.  Well my state is a no fault state so I cannot sue in the event of a auto accident. So where is the logic in that?

2 Contributions
4 People Helped

Bankruptcy

Helpful to 4 out of 5 people

My wife's bankruptcy was recently discharged. She filed because she went through a nasty divorce in 2013 and her ex never paid his portion of the credit card bills he was ordered to pay. She didn't have the money to pay her attorney to take him back to court. She couldn't manage his share of the bills and her student loan payment so she filed Chapter 7.  Her insurance rates have increased. She has never had a ticket or been in an accident. She has never been late on her insurance, rent, student loan or car payment nor has she sued anyone. The only debts discharged were the ones her ex never paid on. It's unfortunate she is being penalized on her insurance rates 

6 Contributions
11 People Helped

Car Insurance & Credit Cards.

Helpful to 10 out of 18 people

I always pay mine every six months, on time, never late. 40 years I have been with Allstate and haven't had a ticket or moving violation since the 70's. Knock on wood. Why isn't that included in my credit score? Mine is great, not complaining but right now I do have a balance on my credit card. For some odd reason, my credit doesn't reflect. It says I haven't had anything on my card since Feb. I have a balance that I will pay off in a few days in March. I don't understand why that isn't on my credit score, among other things. I had a problem last month with my credit card. I paid it early and then they paid it again on their due date. I wanted to set up a pay in full, which I did this year. They put it into installments. I always pay in full each month. Why can't they just pay it in full as I requested? 

Reply by
kathlen

1 Contribution
9 People Helped
Helpful to 9 out of 13 people

Enter Your Replyyou have to leave a balance on your credit cardfor a month for it to show.......try using it and paying the balance in a 2 month period.......

1 Contribution
3 People Helped

Are there Insurance co dont do this?

Helpful to 3 out of 5 people

Please find/recommend to the Insurances companies to not do this for people who auto pay. They'll see how fast we switch!

1 Contribution
0 People Helped

Helpful to 0 out of 1 people

I wish i knew!!!!!!!!

Results 1-10 of 12Results per page: 5 | 10 | 25Page 1 of 2   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.