07 July 2017

It's A Racket

If you drive a car on public roads you're required, by law, to have insurance.

The cost of the insurance is largely influenced, not by your driving record, but by your credit rating.

Mine sucks.


Because I don't have credit cards.

I was shopping for cheaper insurance and discovered...

The consumer reporting agency provided the following description of the credit factors that had the most influence on the price we quoted you: 
No open verified bank revolving trades with valid credit limit. Optimal value is utilization > 0% and < 1% on open bank rev trades. 
Months since oldest mortgage opened is greater than or equal to 60. Optimal value is 0 to 12. 
There are 0 bank revolving trades. Optimal value is 10 or more. 
There are no credit card trades with valid open date. Optimal value is 120+ months since most recent credit card opened.
 So... I don't have a credit limit to establish that I'm using more than none, but less than 1% of it.

I have one mortgage, that I'm paying on and have been paying longer than 60 months.  Notice that optimal is 0-12 months.


I looked up revolving trades.  They want you to have a card, make at least 10 payments on credit you've received per year and have had the card for 10 or more years.

This is being fucked for being responsible.


  1. Do you feel comfortable saying who the insurance company was? I've been using State Farm for a long time, because they were very good with us after we got hit by a truck while out riding our bikes. This was New Years of Y2K. Loyalty on my part.

    The other side is wondering if they're charging me more because while I have a few credit cards, I never carry a balance. I paid off my mortgage over 10 years ago. I'm failing all the tests you list.

    1. GEICO is whom sent this analysis. They wanted more than my present carrier, one of the "not really a member because you were scum enlisted" USAA halo companies.

    2. USAA has always treated us right, but I've noticed that we're paying a lot more than many of my friends.

  2. GMAC told me the same, Amica never did. Amica also doesn't discriminate against certain dog breeds on the homeowners.


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