Just denied for renter's insurance. Any ideas?

[hopeforus]

We are about to have our consult and should be filing shortly after. We are giving up our house and have been in a rental since August. We really need renters insurance. We were just denied though. What the heck can we do? So do people with crappy credit just not have renter's insurance?

I'm kind of scared to even cook right now.

Thanks!

C

[backtoschool]

We are about to have our consult and should be filing shortly after. We are giving up our house and have been in a rental since August. We really need renters insurance. We were just denied though. What the heck can we do? So do people with crappy credit just not have renter's insurance?

I'm kind of scared to even cook right now.

Thanks!

C

Just go to another insurance company. Someone will give you renter's insurance with bad credit unless you filed a bunch of claims on your last insurance or something.

[hopeforus]

Thank you. My friend has her own agency and I guess it went through several companies but I will check and see. I will try the place down the street as well.

[backtoschool]

Thank you. My friend has her own agency and I guess it went through several companies but I will check and see. I will try the place down the street as well.

Your rates will be higher than people with good credit, but there will be someone who will insure you.

[hopeforus]

I feel much better now. Whew. I'll try the local place on Friday. Thanks

[pookieny]

Yea, watch out on your claims with home insurance. I had two claims within 5 years for water damage and Allstate canceled me. No one else would touch me because of the two claims and it took an intervention between Senator Hillary Clintons's office and the attorney generals office, Elliot Spitzer to get Allstate to reinstate me. I plan never to go throught that nightmare again.

[hopeforus]

We only had a 200.00 claim for food with USAA like 3yrs ago. No claims with our homeowners since then.

[backtoschool]

We only had a 200.00 claim for food with USAA like 3yrs ago. No claims with our homeowners since then.

I don't think that small claim will be an issue. I think that some renter's insurance companies will not underwrite new clients that have bad credit and/or a foreclosure. But some will. Expect to be charged more than the average rate, and just keep looking until you find a company that will sell the insurance to you.

[momisery]

Disgusting.. since when would BK people be a big risk??? Geesh... This is a rip off.

[ForumReader]

Disgusting.. since when would BK people be a big risk??? Geesh... This is a rip off.

I read somewhere, I am not sure from where that Congress is looking into whether to ban insurance companies from using credit scores when giving new insurance policies to consumers for homes, cars and rentals. I have to admit this is ridiculous that insurance companies use credit scores to determine whether to give insurances or not, give insurance but at a higher premium, etc.

[ace13]

I hope Congress does ban use of credit scores. After all as long as we pay our premiums up front we shouldn't be considered a risk. Now I realize sometimes the premiums can't be paid in a lump sum. In those cases it should be viewed we are innocent until proven guilty. After all if we don't pay they can cancel the policy. Denying us and charging more money is truly discriminating and bogus!

[frogger]

Insurance not only use credit scores, they have an industry reporting agency, much like a credit bureau. All claims are sent to this agency and will be pulled up when you apply for any insurance policy.

Small claims can be just as detrimental to you as big ones. If you have 2 or more claims, you're likely to get red-flagged for buying insurance.

[pookieny]

Disgusting.. since when would BK people be a big risk??? Geesh... This is a rip off.

It is the belief among carriers that BK people and people with bad credit are more likely to file claims.

[Patch]

we can not get renter's insurance that would be affordable....
we had one claim when we were home owners,but not our fault that Katrina took our roof.....but still ,that one was also a rip off,because our deductible was so high...
and then allstate cancelled on us....

in 10 years that we owned our home,our insurance premium went from $400 a year to $4000...thus making our mortgage unaffordable...

anyway ,good luck finding an insurance...

[ILnoiFiller]

Hope this will help but try Hasting mutual Insurance Co. I have them and they are great, I pay about $118 a year for my renters. I have them for car also, just check their web site it has a agent locator.