GAAAAAAA! Need serious help from Insurance people
#22
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Originally posted by LA-Z
Guys, real quick to clear up misconceptions. Credit Reports DO NOT* have any affect on how much you pay per year, or points on your record, it WILL* affect the options you have to pay your premium. Meaning, bad credit, they may make you pay all at once, good credit, you can pay monthly. But you can say, I DON'T want you to pull my credit, and they legally can't (even if they do it's supposed to be a "soft hit" which means unlike applying for credit cards and getting denied it would affect your credit rating.) Anyway I wouldn't worry about it.
Guys, real quick to clear up misconceptions. Credit Reports DO NOT* have any affect on how much you pay per year, or points on your record, it WILL* affect the options you have to pay your premium. Meaning, bad credit, they may make you pay all at once, good credit, you can pay monthly. But you can say, I DON'T want you to pull my credit, and they legally can't (even if they do it's supposed to be a "soft hit" which means unlike applying for credit cards and getting denied it would affect your credit rating.) Anyway I wouldn't worry about it.
Many states now have legislation on the books or are working on legislation to restrict the use of credit scores. Most of the legislation being passed only states that insurance companies cannot use credit scoring as the only factor in determining whether or not to insure someone or to set the rates.
California has what is probably the most restrictive law out there as cash1 stated and as LA-Z is indicating above. But that's only California.
As to Progressive's web page, since they do business in all states, they have to include that disclaimer on their web page, wether or not they will actually use credit scoring in your state.
Hope this helps on the credit scoring issue.
#23
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ouch progressive
I have progressive here in florida and just got a quoto for 870 per six months. I am 37yo with 1 accident. I have a multi car discount, AAA discount and home owners discount.
When I had my 01 330ci which I disposed of in June, with much more coverage (leased vehicle) I paid 753. This is a 15% increase. That friggin sucks...
When I had my 01 330ci which I disposed of in June, with much more coverage (leased vehicle) I paid 753. This is a 15% increase. That friggin sucks...
#24
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Originally posted by jims2321
My suggestion, forget the Z car for now, get a used Yugo or Mazda Protege, Ford Taurus... for a few years, until your tickets fall off.
My suggestion, forget the Z car for now, get a used Yugo or Mazda Protege, Ford Taurus... for a few years, until your tickets fall off.
So I ended up going for a used 2001 Nissan Maxima...not exactly what I had in mind, but I am going to wait a few more years and get a Z then And till then, I am going to have fun driving around my Maxima!
#25
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Originally posted by jims2321
Oh, and by the way, if you fillout out the form, they usually ask if you have had any tickets, not points in the past two/three or even five years. If you have and answer no, don't be surprised if they cancel you say 3 months down the road, for providing false information. Taking the driving class to avoid points, does not remove the fact that you got a ticket, only the points from your license, you still got a ticket, and the insurance company will find out.
Oh, and by the way, if you fillout out the form, they usually ask if you have had any tickets, not points in the past two/three or even five years. If you have and answer no, don't be surprised if they cancel you say 3 months down the road, for providing false information. Taking the driving class to avoid points, does not remove the fact that you got a ticket, only the points from your license, you still got a ticket, and the insurance company will find out.
It turns out the insurance companies keep a separate database - a huge central one - that keeps records of all accidents or tickets you've ever had. So, while most DMV's will wipe your record after 7 years for "points", the insurance companies will always know that you got one ticket 20 years ago.
Basically, you're screwed if you get in an accident that winds up on DMV records, because it'll filter down to the ins db, and then every company will know about it forever.
The only advice my agent gave me was "Ignore the law, don't report accidents to the DMV".
#26
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Originally posted by jims2321
Icy,
Man, you should be on your hands and knees kissing your parents feet, for what they are doing for you. You do realize what they are doing for you, is above and beyond their parental duties. Make sure your dad gets to drive the Z sometimes, like when he and your mom want to get away for the weekend
Jim
Icy,
Man, you should be on your hands and knees kissing your parents feet, for what they are doing for you. You do realize what they are doing for you, is above and beyond their parental duties. Make sure your dad gets to drive the Z sometimes, like when he and your mom want to get away for the weekend
Jim
Last edited by ICYBLUE1203; 08-10-2002 at 08:39 PM.
#28
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Originally posted by nizl
The only advice my agent gave me was "Ignore the law, don't report accidents to the DMV".
The only advice my agent gave me was "Ignore the law, don't report accidents to the DMV".
This could result in a loss of coverage in the event the other party turns around and sues you. Then you're on the hook for your own attorney to defend you, plus however much a jury might award the other party!
Even if the insurance company can get information about older incidents on your driving record, most do not use information older than about 3 years in determining whether or not to insure you or in setting their rates. Those that would hold a 20 year old ticket against you would rapidly lose market share as companies with more reasonable underwriting standards snapped up the customers whose driving records have improved with time and experience behind the wheel.
#29
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There is one thing that bugs me to no end, I have heard in CA, many of the homes have no homeowners insurance on them, because of the cost of insuring them is outrageous. Which begs the question, how much longer is the rest of the country going to put up with homeowners insurance, and by proxy auto insurance.
In some cases, (probably a lot), peoples car insurance cost more, up to twice the homeowners insurance! I wondering at what point do the customers, push the legistrators to pass laws repealing the insurance requirements, since so many are already driving without insurance.
Jim
In some cases, (probably a lot), peoples car insurance cost more, up to twice the homeowners insurance! I wondering at what point do the customers, push the legistrators to pass laws repealing the insurance requirements, since so many are already driving without insurance.
Jim
#30
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Originally posted by LA-Z
No that makes sense. I am 26, and a lot of these problems, will go away in the next year. So I got to have to try and buck up until then.
No that makes sense. I am 26, and a lot of these problems, will go away in the next year. So I got to have to try and buck up until then.
Come January 31st, I am switching to Erie (unless I get a better quote) for $880 a year. Still high, but nearly $150 a month less.
#31
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Originally posted by jims2321
There is one thing that bugs me to no end, I have heard in CA, many of the homes have no homeowners insurance on them, because of the cost of insuring them is outrageous. Which begs the question, how much longer is the rest of the country going to put up with homeowners insurance, and by proxy auto insurance.
In some cases, (probably a lot), peoples car insurance cost more, up to twice the homeowners insurance! I wondering at what point do the customers, push the legistrators to pass laws repealing the insurance requirements, since so many are already driving without insurance.
Jim
There is one thing that bugs me to no end, I have heard in CA, many of the homes have no homeowners insurance on them, because of the cost of insuring them is outrageous. Which begs the question, how much longer is the rest of the country going to put up with homeowners insurance, and by proxy auto insurance.
In some cases, (probably a lot), peoples car insurance cost more, up to twice the homeowners insurance! I wondering at what point do the customers, push the legistrators to pass laws repealing the insurance requirements, since so many are already driving without insurance.
Jim
Mandatory insurance laws were created to ensure that when someone is injured due to someone else's negligence, the injured party would have a source of recovery for their damages. Unfortunately, as more people avail themselves of this available pool of money, whether legitimately, through fraud, through reasonable settlements or through inflated settlements due to the high cost of litigation, the costs have to be passed on to the consumer and you end up with a continuous spiral.
Of course, if there were no mandatory insurance laws and you were seriously injured by an uninsured moron (as the term was used earlier), you would have nowhere to turn for your injuries. Sure you could carry UM coverage but those rates would skyrocket due to the even larger number of uninsured motorists out there.
What is the solution? If I could figure that one out, I'd be rich.
#32
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My last post on this, but I ended up getting a quote of 2300 a year, best advice, it takes some time and leg work, but keep calling and calling places.
#33
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HZ,
What I have been noticing over the past decade is a large increase in the number of claims file by people injuried not against automotive insurance, but homeowners, because of the usually higher coverages.
Another area I have noticed, is the creativity of lawyers, to make new areas of recovery and restitution against complete uninvolved homeowners. The one that comes to mind, happened just a few months ago in Lakeland FL.
A guy ran a red light, and broadside another car, totalling both of them. The guy claims, 'He could not see the oncoming car, because the hedges on the corner blocked his view'. Despite the fact that the light was red, and he should have been slowing or stopping. He decided to run the red, and blamed it on some innocent homeowner, the really wild part was he won in court and collected 450K, from the homeowners insurance!
Quite frankly, with so many people driving without insurance, and states more and more less inclined to enforce the laws, I suspect that sooner than later, the mandatory insurance laws will be repealed. I don't know about Texas, but in Florida, we have a sunset clause in our state constitution, that requires all laws to be reviewed and revoted every ten years or sunset. Our mandatory insurance law, only just past this last time..
Jim
What I have been noticing over the past decade is a large increase in the number of claims file by people injuried not against automotive insurance, but homeowners, because of the usually higher coverages.
Another area I have noticed, is the creativity of lawyers, to make new areas of recovery and restitution against complete uninvolved homeowners. The one that comes to mind, happened just a few months ago in Lakeland FL.
A guy ran a red light, and broadside another car, totalling both of them. The guy claims, 'He could not see the oncoming car, because the hedges on the corner blocked his view'. Despite the fact that the light was red, and he should have been slowing or stopping. He decided to run the red, and blamed it on some innocent homeowner, the really wild part was he won in court and collected 450K, from the homeowners insurance!
Quite frankly, with so many people driving without insurance, and states more and more less inclined to enforce the laws, I suspect that sooner than later, the mandatory insurance laws will be repealed. I don't know about Texas, but in Florida, we have a sunset clause in our state constitution, that requires all laws to be reviewed and revoted every ten years or sunset. Our mandatory insurance law, only just past this last time..
Jim
#34
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Yep, lawyers can be very creative in trying to find loopholes in the law and trying to establish new theories of liability. The most frightening part is that a jury was unable to establish the facts as to what the true cause of an accident such as you described was.
Sunset clauses serve a valuable purpose but can cause legislatures to become bogged down reviewing old laws. Of course it also provides an avenue to change laws that have become twisted completely out of shape by an out-of-control judiciary.
Sunset clauses serve a valuable purpose but can cause legislatures to become bogged down reviewing old laws. Of course it also provides an avenue to change laws that have become twisted completely out of shape by an out-of-control judiciary.
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