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Smart Shopper What do you pay for insurance?
212 messages, Last post on Feb 09, 2009 at 12:11 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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car insurance providers can use your credit score as an underwriting factor when determining your car insurance rate. In fact, over 50% of all policy holders have lower premiums because of their credit score. Also, car insurance companies can now better accurately price their insurance. While many people view the use of credit scores as a negative factor, half of the people are saving money on their car insurance because of their credit score. How Car Insurance Companies Use our Credit Scores Car insurance companies are using our credit scores to assess the risk of insuring us. More and more car insurance companies are correlating our credit scores with how well we drive. Basically, the higher your credit score, the better driver you are. Banks and other financial institutions had long used credit information in determining risk on business such as home loans, and the correlation between those financial records and insurance risks became clear. The average cost of a claim for a person with below average credit is $918, 53% higher then the average claim. Likewise, the cost of an average claim from a person with above average credit score is $558, 23% below the average claim. Statistics sourced from the Insurance Information Institute (III.org). A Good Credit Score can Save You Money on your Car Insurance The better your credit, the better your car insurance rates will be. That's as it should be. 
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Replying to: euphonium (Jan 31, 2009 1:04 pm) That reminds me of a "statistical exercise." A list showed how many years were taken off a person's life as a result of certain lifestyle choices. A smoker would lose X years, an obese person loses Y years, living in an industrial area would cost Z years and so on. When we add up the numbers for, say a 45 year old male who happens to smoke, is obese, lives in an industrial area and so forth, we find that, statistically, he had to have expired 10 to 20 years ago! And now the poor fellow is subsidizing your insurance!  tidester, host SUVs and Smart Shopper |
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how those numbers are manipulated...stop this and add 5 years to your life, avoid this and add 17 months, buckle your seat belt and add 1.7 years... Reminds me of the old guy, interviewed at age 95...he was asked what his secret to longevity was...he said that he drank a quart of whisky a day, smoked 3 packs a day, and chased women...when asked why that did not work for his deceased friends, who died at 70, 72 and 75 years old, he replied..."No wonder...they didn't do it long enough"... I slay me...LMAO
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Replying to: marsha7 (Feb 03, 2009 6:21 pm) You might live 15 minutes longer. 
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Replying to: marsha7 (Feb 03, 2009 6:21 pm) <Groan!!> Very good! LoL tidester, host SUVs and Smart Shopper |
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Replying to: euphonium (Feb 03, 2009 8:06 pm) That should cut your insurance premiums 10 or 15 cents a year. tidester, host SUVs and Smart Shopper |
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.....avoid marriage...hmmm...they say that married men live longer...but they never told us if the single men had shorter lives BUT DIED HAPPIER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!... 
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Replying to: marsha7 (Feb 08, 2009 1:08 pm) |
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Replying to: euphonium (Jan 31, 2009 1:04 pm) Our monthly premium for two cars with full coverage went from 127/mo to 101/mo. Nice! |
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