My car and truck insurance was recently cancelled by one of the Big 5 insurance companies. They said we had too many insurance claims--which we had. The crowning blow was when an uninsured motorist pulled out in front of my wife in the rain, and caused $5K damage. And it didn't help when my daughter's boyfriend totaled out my 2012 Honda Civic SI when he was an unauthorized driver. The other collisions had been either my daughter's or in two instances where my cars were stolen and returned wrecked.
I pulled a free Lexus/Nexus record summarizing all my automobile insurance claims. And I pulled a Lexus/Nexus report on my homeowner's insurance. These companies keep records that are assigned a risk number--like a FICO score. This company is also under the Fair Credit Reporting Act like credit bureaus where you have the right to rebuttal and the right to voice your comments.
In my case, the uninsured motorist claim is being worked by the insurance company trying to recover my deductible. It should not have been counted against me as our fault. I moved my insurance to State Farm, and they doubled the premiums on each of my 4 vehicles. I'm sorry, but a Toyota Camry is not worth $2,800 for a year's insurance premiums.
Most insurance companies might look at your Lexus/Nexus reports (and driving record) if you have three claims within three years. And most companies are looking back 5 years. If you have been unfortunate to have teenage (or young adults) driving your cars, you could have some information out on the internet that could cost you serious money in increased premiums.
I will be rebuting some of the information on my Lexus/Nexus report, and I'll be checking it every year in the future for accuracy. It's also a great idea to get any kids off your insurance policy as soon as possible. Guarding your Lexus/Nexus automobile insurance report is just as important as guarding your three major credit bureau reports.
In my case, this may affect our lifestyle. While we don't buy new cars/trucks every year or two, you never know when you may need to replace a vehicle. Until some reported claims drop off my Lexus/Nexus report, I'll not afford additional insurance on any new cars for the next three or four years. It's bad enough having to insure two boats, two houses and a recreational vehicle on top of the cars/truck.