Posted by oasysco on August 21, 2007, 11:47 am
> Progressive Insurance Company raised my motorcycle insurance rates, sending
> me a notice of "Adverse Action," because there had been two credit inquiries
> on my credit report within the past 2 years. They said that credit
> inquiries "correlates" with higher risk for claims.
> I have an almost-perfect credit score over 800, and a perfect driving
> record--over 40 years' driving only a couple of parking tickets. This is a
> major scam I'm sure.
> Check your motorcycle policy to be sure they aren't penalizing you for
> having opened a Sears MasterCard and/or taking a loan to buy a motorcycle
> within the past 2 years or so, as was the "crime" I committed!
Thanks for the heads up! I sometimes toy around with refi... just
running the numbers, but those companies hit my credit records. Hmm,
maybe time to look around for a new insurer as my policy comes due
next month.
Greg
Posted by Pieface on August 21, 2007, 12:14 pm
Bob wrote:
> Progressive Insurance Company raised my motorcycle insurance rates, sending
> me a notice of "Adverse Action," because there had been two credit inquiries
> on my credit report within the past 2 years. They said that credit
> inquiries "correlates" with higher risk for claims.
>
> I have an almost-perfect credit score over 800, and a perfect driving
> record--over 40 years' driving only a couple of parking tickets. This is a
> major scam I'm sure.
>
> Check your motorcycle policy to be sure they aren't penalizing you for
> having opened a Sears MasterCard and/or taking a loan to buy a motorcycle
> within the past 2 years or so, as was the "crime" I committed!
>
>
I just switched to geico from progressive cause they raised my rates for
some unknown reason. 50 bucks cheaper for me.
Posted by Ken Abrams on August 21, 2007, 5:09 pm
> Progressive Insurance Company raised my motorcycle insurance rates,
sending
They were hoping you wouldn't notice.
It's a variation of bait and switch.
Vote with your check book; take your business elsewhere.
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> me a notice of "Adverse Action," because there had been two credit inquiries
> on my credit report within the past 2 years. They said that credit
> inquiries "correlates" with higher risk for claims.
> I have an almost-perfect credit score over 800, and a perfect driving
> record--over 40 years' driving only a couple of parking tickets. This is a
> major scam I'm sure.
> Check your motorcycle policy to be sure they aren't penalizing you for
> having opened a Sears MasterCard and/or taking a loan to buy a motorcycle
> within the past 2 years or so, as was the "crime" I committed!