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Leonard Said:

Will getting quotes from car insurance companies affect my credit score?

We Answered:

Getting an insurance quote will not affect your credit score in most cases. When you are looking for a car loan it can.

Does getting rate quotes affect your credit score since the insurance companies check your credit history?

Many insurance companies do check credit scores when determining insurance rates. It is true that credit rating companies such as Experian, Trans Union and Equifax have been known to use inquiries towards your credit report to impact your credit score. Those queries that affect your credit score are queries for obtaining credit NOT inquiries that review your credit (like an insurance quote) or use credit as a portion of your insurance score.


Myth: Credit card offers are hurting your score. Credit card solicitations, while annoying, don't affect your score. That's assuming you don't respond to the solicitations and use all of the credit that's available to you.

Mario Said:

Why is N10 classed as a subsidence postcode by insurance companies? When and where was the last case registere

We Answered:

Subsidence isn't covered under the standard policy AT ALL. When getting your quotes, specifically ask the agents, "is subsidence covered?" and get them to put it in writing, in the quote. That's how you'll know for sure if it will be covered or not, in advance.

Walter Said:

How do I determine my house's replacement cost to get an accurate quote from insurance companies?

We Answered:

Well...a decent insurance agent should be able to tell you the average replacement cost in your area based upon a price per square foot value. Some companies will even have tools to input data about your home and come up with an estimated replacement cost...although these figures can tend to be out of date. If you want a true cost replacement value, you pretty much have to shell out around $300 for an appraisal or hire a contractor to give you an estimate.

But if your home is of average quality for your community, the figure your agent provides should be pretty good. For example, in my area the average replacement cost is around $175-$200 per square foot. So if you have an average house that is 1500 sq feet, you would probably be looking at $300,000 in coverage. The cost per square foot estimate came directly from our Total Loss Adjusters...their entire job is rebuilding people's burnt down houses. Now, if you have marble countertops and hardwood floors throughout, we'd want to raise that figure accordingly, to maybe $225-$250 per square foot.

Ask a local agent for their input...if they are worth a darn they should have an average estimate for you. If you want a figure based upon your exact house...pay for an appraisal.

EDIT:

Ignore the person who asked for your purchase price. Purchase price has absolutely no bearing on the replacement cost. Replacement cost is what it would cost to rebuild the house from scratch if it burned to the ground. Purchase price is influenced by many factors that don't impact replacement cost (market conditions, size of the lot, if it's in a desirable neighborhood or not, etc).

Catherine Said:

what are the insurance companies that give reasonable quotes in NYC?

We Answered:

No one here accurately knows. The only way you will ever know is to call your local insurance provider.

Vickie Said:

what car insurance companies dont base quotes on youngest driver on policy?

We Answered:

None do now as they have had to do this to prevent the none genuine ones. You would have no choice anyway as your parents are presumably alreadt insured with someone so that is who would need to add you.

Marvin Said:

when car insurance companies quote your rates they run your name SS# etc.Where is the information coming from?

We Answered:

Are you currently insured? If so ask your insurer for a CLUE report or LOE(Letter of Experience). Either letter will list all chargeable claims and accidents. If you're wanting to know why your quotes are so high ask the agent running your reports. They'll tell you whats on the report and give you a phone # if you need to dispute any of the information.

Norma Said:

How Insurance companies determine quotes for car insurance?

We Answered:

It's largely based on the company's historical risk profile of

1) The type of car & it's value (sports cars are a higher risk)
2) Where you live (There are more thefts etc in some areas than others)
3) Your age, sex and possibly occupation (Women are less risk as are older people)
4) Your driving record (how long, how many claims etc)

Some companies also don't really want certain types of business so they quote over the top.

I've never heard of credit checks being used, but I'm talking about the UK may be different elsewhere, but not sure why they would be.