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 > Can someone help me understand this?

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Texas Two Steppers

Beaumont, TX

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Joined: 03/30/2008

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Posted: 11/14/12 07:57pm Link  |  Print  |  Notify Moderator

We are full-time rvers and pay cash for everything except a credit card which we pay once a month and have never been late on. We have a excellent driving history. We have had full-timers insurance with GMAC for the last couple of years and this year it went up 25% so I started reading the Underwriting Notice. It states "automobile insurers underwrite and rate applicants and policyholders on the basis of a variety of factors-traffic violations, accident history" yada,yada, yada. Down further it states "Another factor we consider is your insurance credit score. Independent studies indicate that an insurance credit score is an extremely reliable predictor of automobile insurance losses. Taking this additional information into account also helps us to provide you with the most accurate and fair rate." Then comes the killer. "Your insurance credit score was used to determine your rate. Your credit score adversely affected your rate and was primarily influenced the the following ...........:
1. Unfavorable: You have less than 5 open accounts with payments currently up to date................."

In other words we pay cash and don't finance stuff so our insurance is going up. Is this crazy or what? I thought we got past this BS 10 years ago.
Has anyone else experienced this and if so do you have any suggestions?

2013 Duramax 3500 dually 4x4
2013 Excel Winslow 31RSE
TST tire monitor
Magnum MS 2012 inverter/charger
3-135w solar panels
Tristar controller
Trimetric monitor
4-6v Trojan t105 batteries
B & W companion 3000 hitch


Foothills NC

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Joined: 06/28/2004

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Posted: 11/14/12 08:01pm Link  |  Print  |  Notify Moderator

Call another insurance company. Get several quotes. You will come out better.

Terry & Shay
Coachman Apex 288BH.
04 F150, 5.4, Lariat SuperCab
Lazy Campers


Leakey, Texas

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Joined: 09/30/2008

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Posted: 11/14/12 08:06pm Link  |  Print  |  Notify Moderator

I haven't yet.
We have been debt free for a long time and really don't have any recent credit history which I am sure affects our credit rating. If I can't pay cash for it I don't get it. Do have a credit card that hasn't been used in a very long time.

So far our insurance rates have not been affected....if and when they are...my current carriers will be losing a customer.

They did raise our premiums last year by $200 a year...called and asked them why and they lowered them.

Kind of sucks that you can be lucky enough to have been able to become debt free and they want to punish you for it.

"All it takes for evil to succeed is for good men to do nothing"

John & Kathy & Gizmo (maltipoo)
1999 38ft Monaco Diplomat DP
Leakey, Tx (Texas Hill Country)



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Joined: 08/28/2002

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Posted: 11/14/12 08:08pm Link  |  Print  |  Notify Moderator

Probably no different than other insurance. Our agent shops our homeowners policy around from time to time because it goes up after time, almost like the odds are against you and something is bound to happen at some point. Look elsewhere for a better rate.

ME '63, DW 64, (DS 89 tents on his own, DD 92 not so much), DS 95
2013 Premier Bullet 31 BHPR


Puget Sound

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Joined: 09/02/2007

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Posted: 11/14/12 08:10pm Link  |  Print  |  Notify Moderator

Sad fact in states that allow credit score within insurance risk rating. Best way to combat is to have a couple of credit cards and use them but pay them off every month. Do this instead of using cash directly. A pain but you got to work the system. Also agree rate shopping maybe in order.


Verde Valley

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Joined: 06/20/2009

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Posted: 11/14/12 08:16pm Link  |  Print  |  Notify Moderator

Get a quote from National Interstate Ins. Comp.
Specialize in RV ins......complete FT's coverage

List of TX Agents

We use Explorer RV

Others Use Gilbert

Both are agents.

2007 RAM 3500 QC LB SRW 5.9L CTD 48re 4:10 4K in bed 'quiet genny'
2007 HitchHiker II 32.5 UKTG 2000W Xantex Inverter
Hit the Road Debt Free & Clear April '07
Came off the road still Debt Free & Clear Jan. '14



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Joined: 06/10/2003

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Posted: 11/14/12 08:33pm Link  |  Print  |  Notify Moderator

A good thing to do is use your credit cards to buy most of your monthly items and pay the bill every month in full. By using the cards you keep a good history moving along. A credit warning bell is paying cash to some. By paying cash there is no paper trail so a person can skip out on a bill by stopping the payments and skipping town. Also by using your cards you can get deals from the credit card providers that will save you money. We regularly get free interest for 12 months from our cards. There is a 3% charge for this but we always schedule a larger purchase around one of these deals and pay the bill off in 11 months. Also one of our cards offers us points for our business that we can use for a number of different gift cards. Last month we had enough points to buy $100.00 worth of restaurant gifts cards so we ate out once a week for free for the whole month. Paying cash doesn't demonstrate your ability to pay as it cannot be tracked.

2002 Chevy 2500HD 6.0 4.10 axle ext cab longbox
36' Carriage Lite Dbl Slide Fifth Wheel
Ron, Barb and Scooter the watchmop


North Florida

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Joined: 04/19/2005

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Posted: 11/14/12 08:34pm Link  |  Print  |  Notify Moderator

So fire your insurance company. This is the beauty of capitalism. You are not forced to buy it from anyone you don't want to, well not yet anyway.

* This post was edited 11/15/12 05:10am by fla-gypsy *

09 SuperDuty Crew Cab 6.8L/4.10(The Black Pearl)
06 Keystone Hornet 29 RLS/(The Cracker Cabana)


Anacortes, or wherever we've gone.

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Joined: 05/04/2005

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Posted: 11/14/12 08:42pm Link  |  Print  |  Notify Moderator

Unfortunately, it's the "American Way". If you aren't borrowing money all over the place, you're not "in the system".

Two years ago, we got a flier from Liberty Mutual, who were selling through AARP. Up to that time we'd been satisified Allstate customers since 1971 and really weren't that much interested in changing, but I filled out the application just to get a quote.

They gave me a very low initial premium that I almost fell for, but a couple of days later, I got another quote that was 30% higher than Allstate, "based on my credit history". What???.

We have a 780 rating. I immediately cancelled all dealings with Liberty, but I found out, a few days later, that they'd already contacted my Credit Union to advise that I was changing my homeowner's insurance from Allstate to them. It took the best part of 6 weeks to straighten out the mess and I sent a real "snottygram" to Liberty, AARP and to my state Insurance Commissioner.

I was really ticked off that Liberty assumed I'd be switching my homeowner's policy to them, when I hadn't even requested a quotation. You really have to watch these sharks.

Frank Damp, DW - Eileen
Anacortes, WA

'02 Georgetown 325, F53, V-10, bought used in 2010 at 13,000 miles.
Dogs - 2 Labs again, both yellow males, both 9 yrs old and both adopted.


Western Washington, USA

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Joined: 10/03/2002

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Posted: 11/14/12 08:42pm Link  |  Print  |  Notify Moderator

The rating system is owned by Fair Issac, not the individual credit bureaus. Not having a credit history amounts to being almost the same as a poor history. As others have suggested, establish credit at two more creditors, charge a small amount, then pay it off on the second month. Pay the modest interest. It is the "high credit" that counts on a revolving account, and the beginning amount on an installment loan. Once you've had the accounts for over 6 months, your score should be at least in the 600's. After a year, in the 700's. After several years, maybe 800. The highest is 850 or so.

Your insurance rate should be favorably influenced once you're up in the 700's.

Not all P&C companies rate by credit score. Shop around. USAA is the highest rated, and State Farm is #2, according to Consumer's Union. I don't know if either uses your credit score in rating.

Holiday Rambler Navigator DP, Hummer, and Honda VT1100C Shadow

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