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 Credit Scores
Profile Image

Question By
Clairissa

713 Contributions
2602 People Helped
Why do I have a poor auto insurance score when my credit scores are good?
Credit Karma's new auto-insurance scoring feature says -- to my shock -- that I'm a "very poor" insurance risk. This makes no sense. I have a TransRisk score of 727 (good) and a Vantage score of 803 (B). My payment record is 100 percent perfect and I haven't had an insurance claim of any sort in more than 20 years. How can my auto-insurance score be so awful? And what can I do to raise it?

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 10Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
4 People Helped

Helpful to 4 out of 4 people

if this tool isn't working properly, then why is it still part of the web site?  Either fix it or remove it.  This credit score stuff is confusing enough without having a tool that doesn't work right.

2 Contributions
2 People Helped

i've wondered about this

Helpful to 2 out of 2 people

I have excellent credit on the TransUnion Credit Score, VantageScore, and Home Insurance Score.  But a while back there was a huge drop in my Auto Insurance Score for seemingly no reason.  I know I have the best rates with my insurer.  I guess it is broken.

Reply by
ps30009

2 Contributions
2 People Helped

I just logged into today for the first time in a couple of weeks, & there was a huge increase in my Auto Insurance Score -- only change is the one inquiry I had on my reports scrolled off.  It also caused a massive jump in my Home Insurance Score, even though it was already in the 'very good' range.

Curious if others with high scores in everything but this one have one or more credit inquiries...

1 Contribution
1 Person Helped

Helpful to 1 out of 1 people

I have good credit (737) and I have lost 81 points in my auto insurance score. I have lived outside the U.S. for the past 7 years and just recently moved back. I do not have a car, and therefore, have no auto insurance. Are we being penalized for not having auto insurance (and owning a car)? I am guessing that after 3 years this is not a beta version anymore.

Reply by
salim20001

5 Contributions
4 People Helped

Yes, I think so

4 Contributions
9 People Helped

Helpful to 2 out of 2 people

I'm in the same boat, 30+ years of driving with only one parking ticket.  I've never made an insurance claim of any kind and I'm showing "very poor" risk for insurance (I currently have 2 cars under 4 years old with comprehensive insurance and 2 motorcycles with full coverage and my premiums are under $100 a month!).

1 Contribution
1 Person Helped

Helpful to 1 out of 1 people

Makes no sense, says that I am a very poor risk at 800 or so.  No driving offenses, perfect driving record, have not owned a car in 15 years. 

Reply by
salim20001

5 Contributions
4 People Helped
Helpful to 0 out of 1 people

Auto insurance always score badly so you will have to pay more, you don't have a choice

1 Contribution
2 People Helped

Helpful to 2 out of 2 people

Yeah this tool is a joke.... I have a transrisk score of 786, a Vantage score of 917, and a "Very Poor" Auto ins. score of 765. I have a stellar driving record. Only thing I can figure is that I have a 2009 VW Jetta. However, that is completely paid off now for over a year so ??

2 Contributions
2 People Helped

Helpful to 2 out of 2 people

I'm told that the Auto Insurance Score is a "beta" verson, which means that it has many problems.  Currently it rates good drivers with "poor" raitings yet gives a a higher score number!  It seems like "it's back to the drawing boards" for this tool.

Top Contributor
2697 Contributions
987 People Helped

Have you had any auto related tickets in the last 5 years?

Top Contributor

Reply by
Clairissa

713 Contributions
2602 People Helped
Helpful to 1 out of 1 people

Excellent question. But no. No tickets, no lawsuits, no legal trouble of any sort, nothing that would put any sort of black mark against my record. I've puzzled over this and the only "negative" I can think of (which isn't a negative in the real world) is that I have only two open lines of credit. I paid cash for my car. I don't have a mortgage on my house. All I have on my credit report is two credit cards with modest balances. Is it possible that I simply don't have enough on my record?

1 Contribution
0 People Helped

auto insurance

Auto insurance has been co-opted by the GREED of Wallstreet.  It's a scam with very little meaningful oversight.

1 Contribution
0 People Helped

Credit karma

Yes, I rent and am getting a low score for having no home owners insurance. If these people can't get it right on features that affect our lives I guess we have to petition to have them replaced. and of course there is nowhere on their site to report the trouble.

Results 1-10 of 10Results per page: 5 | 10 | 25Page 1 of 1   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.