Bankruptcy & Auto Insurance

[dcw888]

What is the name of your state? What is the name of your state? What is the name of your state? Arkansas
I am the same type of driver now that I have been the past 12 years (with the same insurance agent)
I have NO tickets, NO accidents & multiple car discount, low mileage discount & the safety restraints.
Yet, because I am being forced into bankruptcy by my Ex husband filing bankruptcy, I am being hit with a rate increase due to credit reports.
This seems very unfair. How long has this practice been effect? And as a consumer, is there any thing being done about it?
The rate increase (if it keeps going up) could force me to give up my car & then what????
It just seems that it is very prejudice.

 

[tammy8]

Credit ratings are a HUGE factor now with most insurance companies. Statis show the better your credit, the less claims you file, the better you upkeep your vehicle (no bad brakes causing accidents, no hit and runs because you are in the wrong place at the wrong time). I see both sides of the issue being an insurance agent and an insured (I also have an ex from heck that dern near ruined my credit).

I am surprised though with your company because most will "grandfather" in the old insureds.

 

[dcw888]

Every month I have to contact my agent & he goes round & round with the home office.
It started out that my payment was $153.00 for2 vehicles.
Three months ago it jumped to over $450.00 per month, then 2 months ago it was over $360.00, last month it was over $300.00, this month it was over $260.00.
I have talked/seen my agent more in these past few months than ever before.
I kind of see the connection, but...it still shows extreme predijust & I cannot see where those of us who have made payments & can show it through our history should be made to give up our vehicles...

 

[knotcops]

Being an agent as well, I understand your frustration. The company I represent does not use credit in the underwriting of a policy, but we don't write in Arkansas. I would suggest that you call around and find a company that doesn't use credit as a criteria, and since you have a good record and current insurance you should be able to get a preffered rate.