Posted by LKT/CA on 4/5/10 6:54pm Msg #330439
OT: Home Owners Insurance Quote
I was in need of a quote for homeowners insurance. The current company raised the premium by 30% with a sorry explanation so I called some associates. One told me that in order to get a quote, I would have to provide my social security number. HUH?!?! for a quote? I told her if I was actually doing business with her company, then yes, but not for a quote. She was insistent so we hung up a called my dad who's a retired insurance agent and he also said "HUH?!?" Then I called a friend with Farmers and he also said, "HUH?". He only needed the declaration page from current policy and info on the property.
Why would this woman run around telling people they must give private info for a quote? And then get an attitude and say that's the way it is in ALL insurance and no one will give me a quote without me providing my social security #....for a homeowners policy.
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Reply by Linda_H/FL on 4/5/10 7:02pm Msg #330440
I was told the same thing when I was looking
they pull a soft credit check on ya...that's why...
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Reply by Philip Johnson on 4/5/10 7:09pm Msg #330442
speak of FL home owners
Working with a guy moving to Mickey's place and I was shocked to see his quote. His house here, very similar to the one he is buying in Florida, less all the cold air, gray skies and crappy weather was 1425/yr there compared to $425/yr here.
I understand hurricanes and sink holes and such, but 3 times more? Just like when I lived in the Aloha state perceived paradise comes with steep costs.
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Reply by Linda_H/FL on 4/5/10 7:15pm Msg #330446
My HO ins here is comparable to the premium we paid
on the property in CT...house there was about 800sf larger on 1/4 acre in city - value and replacement value higher there - think I was paying about 850/year there...it's $1,000/year here
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Reply by Notarysigner on 4/5/10 7:09pm Msg #330441
I was getting ready to say the same thing. I changed homeowners last year (after 16 yrs same company) because the premium kept going up. They even stopped sending me calendars.
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Reply by BrendaTx on 4/5/10 7:13pm Msg #330445
*They even stopped sending me calendars.*
Oh no. How do you know what day it is??
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Reply by Notarysigner on 4/5/10 7:15pm Msg #330447
Re: OT: I look at the old one and subtract 365
dah?? LOL
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Reply by Charles_Ca on 4/5/10 7:24pm Msg #330448
Beats the heck out of me and I'm a Farmers Agent
I never ask for SS until the client is ready to buy the policy.
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Reply by Dennis D Broadbooks on 4/5/10 8:18pm Msg #330452
Over the Past 10 Years...
...virtually every insurance company has introduced the use of credit scoring in addition to loss history to rate a policy. While you may be able to obtain a premium quote without giving your social security number, the BEST & most ACCURATE quote will be one in which the company has factored in your credit score. In other words you'll not be given the best rate until you prove you're deserving of it. I've been on the independent agent side of the insurance business (Farmers Ins Group agent for 20+ years from 1977 to 1997) since 2003 & have obtained the SS #'s of the prospect(s) on every single quote I've provided. Not one person in 7 years has complained or refused to give it to me.
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Reply by Lee/AR on 4/5/10 10:54pm Msg #330478
Re: Over the Past 10 Years...
Now I know that somewhere (probably in a dark basement level where he's suffering from depression) there is a statistical-minded guy who pours over all these figures trying to make an actuarial table out of random information.
However, I don't really believe that a good credit rating means your house won't catch on fire, be in the way of a flood or tornado/hurricane. I don't think these 'events' read actuarial tables before deciding which way to go. What idiot dreamt this stuff up or what were they smoking at the time? I found out a year or so ago that I pay 'a bit more' for auto insurance because I DON'T have a car loan. What kind of logic is that? My homeowner's insurance here in this Podunk Junction is about 4 times what it was in the previous Podunk Junction.... really makes no sense at all.
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Reply by Dennis D Broadbooks on 4/6/10 4:38am Msg #330481
Yep, You're Exactly Right...
...there actually IS a guy somewhere in a dark basement who pours over all these figures & comes up with these actuarial tables to justify the use of credit rating on homes as well as autos!
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Reply by Linda_H/FL on 4/6/10 8:43am Msg #330484
Credit pulls are also done for auto insurance
I know..it was done by all companies quoting auto rates to me when we first moved here - they ALL required our SS numbers
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Reply by jojo_MN on 4/6/10 3:08pm Msg #330529
Re: Credit pulls are also done for auto insurance
They should abolish that practice. Right now, half the country is in financial distress because their jobs are being eliminated, then just to make it better--their insurance rates go up because their credit scores are trashed. I've run into quite a few people that cancelled their auto insurance in Wisconsin because it was going to be doubled and can no longer afford it. In Minnesota, it is illegal to drive a car without auto insurance.
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Reply by Linda_H/FL on 4/6/10 3:31pm Msg #330532
Been that way for a very long time...
I remember back in 2000-2001 we were looking to refinance - we'd done some shopping around for insurance just prior to that...our loan guy asked me why there were so many hits on our credit - when he told me who they were I realized they were the insurance companies pulling credit...even way back then. I think now they do a "soft" pull so your score doesn't take such a hard hit.
I don't agree with it...but they all do it...and we need the insurance..
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Reply by Charles_Ca on 4/6/10 6:26pm Msg #330543
Actually Dennis, Californians tend to be wary...
there a lot of scams and this is El Dorado, the streets are paved with gold, all Californians are handsome, intelligent and rich. Scammers see us a a viable source of income and a secure retirement program. I get a lot of reluctance regarding SSNs when quoting from a plain "why" to "hell no!" When I quote I use a fake SSN and have never had a problem.
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Reply by TraceyFD/VA on 4/7/10 12:29am Msg #330579
The best way to tell someone is lying is......
.... they tell you that ALL companies require _____ (insert stupid requirement). And why is it such statements seem to be made primarily by people who are very young (or sound very young) and more likely than not seem to have a nasty attitudes. I guess if you do not have a legitimate reason for requiring something or don't understand the reasons yourself, and you don't have enough business experience to understand how to handle yourself, you try to bully your way through the situation.
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