Insurance

[Satellite5812]

I'd always used Progressive in the past, and I'd always been happy with them. This time around though, it was a complete and total nightmare. It took 3 additional phone calls to establish the electronic payment option I'd originally asked for, and then they still got it wrong, resulting in a missed payment. Then I was penalized for the missed payment. And additionally found out they had added comprehensive, after I'd explicitly asked to carry only the legal minimum. Of course they won't refund this amount.

Anyway, my van is parked until I can get an engine replacement, so I cancelled my policy. No more Progressive! Never again. Interestingly, the very next day after cancelling my policy, I stumbled across this Consumer Reports article about vehicle insurance.

 

[Spirituallifetime]

I'd always used Progressive in the past, and I'd always been happy with them. This time around though, it was a complete and total nightmare. It took 3 additional phone calls to establish the electronic payment option I'd originally asked for, and then they still got it wrong, resulting in a missed payment. Then I was penalized for the missed payment. And additionally found out they had added comprehensive, after I'd explicitly asked to carry only the legal minimum. Of course they won't refund this amount.

Anyway, my van is parked until I can get an engine replacement, so I cancelled my policy. No more Progressive! Never again. Interestingly, the very next day after cancelling my policy, I stumbled across this Consumer Reports article about vehicle insurance.

I read the consumer report, they check your credit score and use it to calculate your rate. If you don't barow money and have a 0 score you pay more.

 

[ramblingvanman]

I read the consumer report, they check your credit score and use it to calculate your rate. If you don't barow money and have a 0 score you pay more.

Which is one of many, many reason I will never use them.

 

[USACelt]

I'm not a 100% but I think all insurance companies use credit scores to help set rates. including home and renters insurance.
Its just another way to increase premiums

 

[Iggy]

My credit went from A+ to about D- three or four years ago, for a variety of reasons. My vehicle insurance didn't change much. In fact, it dropped considerably last month when I changed my home address to my sister's house in a different city. I have State Farm. I've been with them for over 30 years and no recent accidents on my record. Maybe my loyalty counted for something. Or perhaps they don't do credit checks that often on old customers.

 

[karl]

I don't think insurance providers factor loyalty into their decisions.

My homeowners was recently canceled "for non payment", after nearly 30 years of no late payments on business, auto, homeowners, commercial liability insurances with the same carrier and agent, I missed one homeowners payment date and was dropped. When I questioned the action I was offered a new policy at 1 1/2 times the annual rate I had been paying, applications to other carriers resulted in equally higher rates as well.

My credit rating is still fine, I was not notified of the missed payment by either email, phone or snail mail for nearly three weeks-the only response was the refunded payment with a cancellation notation , this makes little sense to me.

The action and the slow and unsympathetic response encouraged me to move all my remaining insurances from the agent and home state based carrier to a different one, not that I trust any of them now.

 

[GotSmart]

I bank with USAA Federal Savings Bank, and have all my insurance payments automatically withdrawn.  Instant credit for electronic transfers, and 24 / 7 online access. 

I can call anytime and report a loss.  

We had State Farm during the Ice Storm, and they never returned my calls on the house damage.  I immediately changed.  A year later tenants vandalized the house, and USAA payed off.

 

[ACagedTraveller]

The insurance companies place me in a high risk catergory for insurance, regardless of company, because my age group tends to have the majority of "accidents." This means that the majority of insurance plans charge additional fees that make it expensive to operate vehicles in this area.