Recently I changed my insurance coverage to lower my monthly rates. They dropped significantly and then a couple months later I get my statement from my insurance company that my insurance was going from 101.00 to 146.00. I only received the notice a matter of 5 days before it was to come out of my checking account. I was told by the company that I was supposed to have alot longer notice than I received, but that was not the case. Then they informed me that the rate increase was due to my credit score.
I don't see how that can be a reason to increase my insurance since that monthly payment has never been late and is always taken directly from my checking account. That was a substantial increase for me and I don't think that it should be possible for them to increase due to my credit score.
I also believe that is a bad reason since my credit score is almot 700. That I am told is not a bad credit score, but my insurance comapny thinks it is enough to increase my rates by a substantial amount.
Thank you for your time. Is there anything that I can do to fight back besides changing insurance companies?
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