VattenÃ© wrote:I am by no means an expert in insurance, but I would certainly agree that this just looks like a thinly veiled excuse to screw you over. If a BANK offers a mortgage to you at their most favorable terms, then how could that many inquiries expose an insurance company to any more risk?!
I would be interested in hearing how the agent responded when you told them that.
Her response was to leave me a voice mail saying I know you're upset and I just wanted to give you a chance to talk things out.
I translated that as I want to give you a chance to bitch and moan so then you can get over it, pay us and go on with life.
Yeah the bank did not seem to mind the inquiries, number of accounts or average age of account (which at 5 years isn't shabby even if it isn't out of this world, it probably dropped a bit with the new accounts of course).
I took the most offense at the fact that they sent me a letter the day before they told me this saying that with my credit they wanted me to finance a vehicle through them. On the one hand they tell you give us your business we want a customer with your credit and on the other hand they say well your credit has issues so you have to pay us a higher premium. I realize it's two different departments doing this most likely - marketing on the one hand and underwriting on the other. But if they simply went by score which they are supposed to do rather than your inquiries, then I would have obviously gotten the best rate. Instead, they wanted a reason to get more money out of me so they found a reason to do it.
But you know, in the end, they lose, because I already got quotes from Geico and Progressive and I will be moving my business and that will be that. So, State Farm, rejoice in shafting me now, because it will be the LAST DAMN TIME you do. Enjoy it while it lasts.
Oh I almost forgot to mention - they had cancelled my renters insurance policy as I mentioned, then they turned around and sent me a new bill for it, even though they first cancelled it and know I won't be renewing it. It was at a higher rate than last time but I didn't get the "adverse action" notice. Could be just a routine "because the CEO needs a few million more in his bonus" increase I guess. They don't seem to know whether they are coming or going at that company.
I've pretty well made up my mind to go with Progressive though Geico is still an option. I like that Progressive allows you to build up your deductible over time by being acciident free which I've been since 1988, and that they offer vehicle payoff coverage as well. The Challenger comes up soon and it will be the first to go.