GAAAAAAA! Need serious help from Insurance people
08-09-2002, 10:55 PM
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GAAAAAAA! Need serious help from Insurance people
I just got off with progressive and they quoted me EIGHT FREAKING THOUSAND A YEAR! $8000. For Minimum coverage on Enthu. Model. I have had two speeding tickets (one almost three years and one two years ago) and one accident (two years ago). I obviously cannot afford this car if this is the lowest I can get. Anyone work in the insurance industry that can help me find a seriously lower rate???
08-09-2002, 10:59 PM
#2
Re: GAAAAAAA! Need serious help from Insurance people
Originally posted by LA-Z
I just got off with progressive and they quoted me EIGHT FREAKING THOUSAND A YEAR! $8000. For Minimum coverage on Enthu. Model. I have had two speeding tickets (one almost three years and one two years ago) and one accident (two years ago). I obviously cannot afford this car if this is the lowest I can get. Anyone work in the insurance industry that can help me find a seriously lower rate???
I just got off with progressive and they quoted me EIGHT FREAKING THOUSAND A YEAR! $8000. For Minimum coverage on Enthu. Model. I have had two speeding tickets (one almost three years and one two years ago) and one accident (two years ago). I obviously cannot afford this car if this is the lowest I can get. Anyone work in the insurance industry that can help me find a seriously lower rate???
08-09-2002, 11:06 PM
#4
Originally posted by Quadry
Hey guys,
Maybe I can help some. I am an insurance agent in Arkansas. I can help answer some questions about why it may be so high. Just let me know.
Hey guys,
Maybe I can help some. I am an insurance agent in Arkansas. I can help answer some questions about why it may be so high. Just let me know.
250comp
500coll
with no points
27yrs old
08-09-2002, 11:09 PM
#5
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Just a few questions and observations.
Question 1: Are you under 25 and male
Question 2: Are you married?
Question 3: What was the total damage ($) of the accident and who was charged with the accident.
Observation 1: You live in L.A.
Observation 2: You are going to be driving a sports car with a high theft potential.
Observation 3: Your previous track record is that you are not a careful driver (with two tickets and an accident in 3 years).
The real reason Progressive is raking you over the coals, is that they don't want your business, but can't just come out and say that. Also most insurance companies are pulling credit reports (I know Progressive does), and that is being factored into their quote. 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.
Jim
Question 1: Are you under 25 and male
Question 2: Are you married?
Question 3: What was the total damage ($) of the accident and who was charged with the accident.
Observation 1: You live in L.A.
Observation 2: You are going to be driving a sports car with a high theft potential.
Observation 3: Your previous track record is that you are not a careful driver (with two tickets and an accident in 3 years).
The real reason Progressive is raking you over the coals, is that they don't want your business, but can't just come out and say that. Also most insurance companies are pulling credit reports (I know Progressive does), and that is being factored into their quote. 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.
Jim
08-09-2002, 11:10 PM
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All of the rates are different for different states. Almost every company now bases their rates on credit scores. This is why you usually have to give your social security number. By running credit scores, the insurance companies can come closer to predicting what kind of a risk you are. There is a significant relationship between low credit and more accidents.
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08-10-2002, 01:23 AM
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pheew
>Well after a lot of searching I got a lot more reasonable rate, of 2500 a year, (**** progressive, freaking insurance *****). I also found out the legally they CANNOT rate you differently according to your credit report, they can however give you different payment options. At least this is what I was told. The one thing I have a problem with is the whole bait and switch mentality, they were like, yes that's the quote but we can't give you a final quote until we have a vin number...
08-10-2002, 01:32 AM
#9
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I could tell you this,
Progressive didn't give you the quote from your credit report. Progressive calculates insurance with your drivers license #, they do not need to have your social security #(at least not in IL, which is probably same as other states) . Also the other thing that might have made the Quote so huge is :
1. It is L.a. (Los Angeles)
2. Mybe age(how old are you)
Insurance companies raise premiums for certain regions because they had really high claim rate in that region. That is what might have made the Price so high. When you call another insurance company and they didn't have as high of a claim rate in that same region, the premium that they would give you would obviously be smaller.
Im not sure if i explained it enough so feel free to question.
Progressive didn't give you the quote from your credit report. Progressive calculates insurance with your drivers license #, they do not need to have your social security #(at least not in IL, which is probably same as other states) . Also the other thing that might have made the Quote so huge is :
1. It is L.a. (Los Angeles)
2. Mybe age(how old are you)
Insurance companies raise premiums for certain regions because they had really high claim rate in that region. That is what might have made the Price so high. When you call another insurance company and they didn't have as high of a claim rate in that same region, the premium that they would give you would obviously be smaller.
Im not sure if i explained it enough so feel free to question.
08-10-2002, 02:27 AM
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Originally posted by jims2321
Just a few questions and observations.
Also most insurance companies are pulling credit reports (I know Progressive does), and that is being factored into their quote. ........
Jim
Just a few questions and observations.
Also most insurance companies are pulling credit reports (I know Progressive does), and that is being factored into their quote. ........
Jim
08-10-2002, 05:04 AM
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very interesting, because right on their site it says:
Information Disclosure
To offer you an accurate quote in one of Progressive's underwriting companies, we will collect information from consumer reporting agencies, such as driving record, claims, and credit history reports. Future reports may be used to update or renew your insurance. Ordering your credit history, may allow us to offer you a lower down payment option.
Please review Progressive's Privacy Policy
Now, tell me they don't use your credit history. Oh, FYI, State Farm, Allstate do and Geico will be shortly according to my agent.
Jim
Information Disclosure
To offer you an accurate quote in one of Progressive's underwriting companies, we will collect information from consumer reporting agencies, such as driving record, claims, and credit history reports. Future reports may be used to update or renew your insurance. Ordering your credit history, may allow us to offer you a lower down payment option.
Please review Progressive's Privacy Policy
Now, tell me they don't use your credit history. Oh, FYI, State Farm, Allstate do and Geico will be shortly according to my agent.
Jim
08-10-2002, 05:08 AM
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Allstate insurance 350z fullcoverage = $93 monthly
Just a FYI If your in dallas ill give u my agent.
Im 29 no accidents no tickets (well atleast what the insurance sees)
In Texas you can get all the tickets you want you just gotta pay alot. NO POINT SYSTEM IN TX
Just a FYI If your in dallas ill give u my agent.
Im 29 no accidents no tickets (well atleast what the insurance sees)
In Texas you can get all the tickets you want you just gotta pay alot. NO POINT SYSTEM IN TX
08-10-2002, 05:20 AM
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Originally posted by Quadry
This is why you usually have to give your social security number. By running credit scores, the insurance companies can come closer to predicting what kind of a risk you are.
This is why you usually have to give your social security number. By running credit scores, the insurance companies can come closer to predicting what kind of a risk you are.
It blows my mind every time I hear that insurance rates are tied to credit reports.
08-10-2002, 06:06 AM
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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.
08-10-2002, 07:35 AM
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LA-Z,
Don't believe for a second that credit reports do not affect your rate, check the following links for further proof.
http://www.pirg.org/consumer/credit/
http://www.insweb.com/learningcenter...uto-credit.htm
http://www.washingtonpost.com/wp-dyn...2002Jun17.html
http://aaa-cheap-auto-insurance-quot...ttingRates.htm
www.pueblo.gsa.gov/cic_text/money/ credit-errors/crediter.pdf
The list goes on and on... The point is, don't believe for a second, your credit report does not have an impact on your rates, or whether or not you will get insurance. I am willing to bet that when you fill out the paperwork for your new insurance policy, in the fine print will be a tag line about the rate quoted you is based upon the information provided in addition to other sources (ie credit report, previous insurance history.)
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.
Don't believe for a second that credit reports do not affect your rate, check the following links for further proof.
http://www.pirg.org/consumer/credit/
http://www.insweb.com/learningcenter...uto-credit.htm
http://www.washingtonpost.com/wp-dyn...2002Jun17.html
http://aaa-cheap-auto-insurance-quot...ttingRates.htm
www.pueblo.gsa.gov/cic_text/money/ credit-errors/crediter.pdf
The list goes on and on... The point is, don't believe for a second, your credit report does not have an impact on your rates, or whether or not you will get insurance. I am willing to bet that when you fill out the paperwork for your new insurance policy, in the fine print will be a tag line about the rate quoted you is based upon the information provided in addition to other sources (ie credit report, previous insurance history.)
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.
08-10-2002, 07:37 AM
#17
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That is a lot. I'm getting charged $200 more to be added to my parents policy. I'm 17, so its pretty cheap to add a new sports car plus a teen driver. I also live in Los Angeles.
08-10-2002, 07:52 AM
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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
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
08-10-2002, 07:55 AM
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allstate
i go with allstate also and i have a truck on my policy right now ... comes to about 240 every 6 mons... was quoted only going to 550 per 6 monthes with both on it... you should look into allstate
08-10-2002, 08:03 AM
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Originally posted by ICYBLUE1203
That is a lot. I'm getting charged $200 more to be added to my parents policy. I'm 17, so its pretty cheap to add a new sports car plus a teen driver. I also live in Los Angeles.
That is a lot. I'm getting charged $200 more to be added to my parents policy. I'm 17, so its pretty cheap to add a new sports car plus a teen driver. I also live in Los Angeles.
I have a 2001 base mustang under my name at 550 per 6 months when I added my son and put him as the main driver of that car it went to 1750 per 6 months.