I guess being an exception I get hurt by everyone else. I had one incident
which caused this chaos of mine for the past 6 yrs. Yes, I was young,
stupid, but hey EVERYONE makes mistakes and it affects everything I do now.
I learned my lesson 6 yrs ago but had to deal with this reminder for 6 yrs
in a row...guess that's why I am a financial analyst :) I watch my own
money close enough, now I do my multi-million dollar companies finances :)
Ironic huh!
Well, I guess when my renewal comes up the end of next year it will drop
significantly since my 7 yrs is up in March of 2001.
So, in March 2001....guess who's buying a new truck :) (How dare anyone
think "Is it gonna be a Dakota?" OF COURSE IT IS!!!!)
Heather
----Original Message Follows----
From: "Rimfax" <Rimfax@email.msn.com>
Reply-To: dakota-truck@buffnet.net
To: <dakota-truck@buffnet.net>
Subject: Re: DML: RE: Insurance Premiums (advice from an agent)
Date: Thu, 27 Jan 2000 09:42:31 -0500
Heather wrote:
> I have always wondered why Credit was an issue...
>
> I had a credit problem 6 yrs ago and I have been suffering from this ever
> since. What does credit have to do with being insured on an automobile?
>
> Because of this problem, I am paying $88/month instead of $60
>
> Please explain that for me :)
>
> (come on one more year then I'll be in the clear!!!!!)
>
Before I said that insurance companies are tracking as much information on
people as they can. Well, about 10 years (or so) insurance companies began
to keep track of social security numbers. At some point, an insurance
company (Doesn't matter which) investigated a marget segment, such as
everyone living in Colorado. Then they, without their Colorado Clients
knowledge investigated their credit. Then they compared the data with
claims made. This/these insurance companies discovered that people with bad
credit, (bankruptcies etc) and clients with poor credit (late payors etc.)
made claims with a greater frequency. They also found that people with
excellent credit had a lower claims frequency.
Insurance companies have been lobbying to get credit approved by all the
state insurance commisioners.
As an insurance agent, I think credit has worked out poorly. It has hurt
existing customers more than it has hurt new business customers. That's
another story though.
- Wayne
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