Does this sound insane for homeowners insurance?

  • by Raymond L.
  • Jun 30,2017
  • 4 answers

So get this I have homeowners insurance and they just sent this letter saying I was credited $124 and changes were made. I called up my agent and he said they ran my credit and lowered it.
However. Last January. I switched car insurance companies. (Totally different company) do u think they got Alerted about this? Or why so nice?


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Insurance Answers (4)

Zarnev 2 months ago

Insurance companies regularly re-run your credit. If your credit improves they are required by law to lower your premium (but cannot increase premium if the credit is worse). Has nothing to do with "nice".

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Casey Y 2 months ago

Those issues are independent. If they provide premium credits for having a good credit score, they are required to periodically re-run your credit; its called proper rate pursuit. They also re-run your Motor Vehicle Record.
So, you can take from this that your credit has improved. It could have been only a couple of points, but if you pass the threshold, you qualify for the credit.

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Young Alfred 2 months ago

They might be doing a periodic checkup on their customers. It is normal if you have been with the same company for a while and have a good claim history for your claim to go down. Having an improvement in your credit score also drives down your rates (for both home & auto). If they just lost you with auto, that may have also triggered a review of your other policies. They like to keep multiple policies with the same household whenever they can, because those customers tend to stay with them longer.

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mbrcatz 2 months ago

In most states, credit score is part of your rating, and they check it every year. It's not related to the auto bit.

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