AmFam just sent my homeowner's insurance renewal bill, and have increased ny yearly premiums by 53% for no other reason than I have a low credit score!
I was seriously injured in a motorcyle accident in 2005 which turned my life upside down financially, and caused my credit scores to drop.
I have never filed a claim & always pay my insurance premiums in full.
Last year my yearly was $806 - This year it's $1234!!
AmFam says they've gone to a new insurance credit risk scoring system - Wht the hell is that? I'm not applying for credit? I'm buying insurance not applying for a loan!
This is nothing more than a scam / shakedown designed to exploit people with low credit scores - It is abusive, and discriminatory!
Also, I never authorized AmFam to run a credit report... I cannot believe insurance companies are allowed to get away with this mafia style shakedown & justify it via credit scores!
My credit wasn't that great last year but my premiums were $430 less for the same exact coverages!
This is absolutely outrageous & should not be tolerated by any American homeowner from any insurance provider! Anyone else being victimized & interested in having our day in court? Any lawyers out there with the balls to take on the big insurance carriers & represent AmFam customersin class actions?
Please contact me!!
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