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There are many rating factors used when soliciting automobile insurance in the state of Arizona. Most people are aware of the obvious ones such as type of vehicle, limits, driving record, where the car is located. However, there are other not so obvious factors used in obtaining an automobile insurance quote.

If you re looking to save money and make the most of company offered insurance discounts, there s at least one thing you ought to be aware of and that s your credit report.

Did you know that in the state of Arizona insurance companies can use your credit report in determining your auto insurance premium? According to the Fair Credit Reporting Act, insurance companies are permitted to review your credit information without your permission. According to the insurance companies, there is a statistical similarity between a policyholder s credit behavior and the propensity to submit claims. Insurance companies feel that a person with good credit and has been responsible in their finan (more...)

On a recent meeting with one of our Business Managers from the Halifax Bank, I learned that the amount of Claims going through for Escape of Water had trebled in recent years, thus pushing up the price of Home Insurance across the Board.

Halifax commented that all insurance providers had been paying millions out in claims over recent years for Escape of Water. It was only 5 years ago that claims for Escape of Water were unheard of, almost non-existent.

I have thought long and hard about why this could potentially be the case, and based on my experience I have decided on the following theory.

When quoting my clients on their new Home Insurance Policies, I have to clarify how many years No Claims Discount is applicable. Many clients have declared “Escape of Water” claims to me in the last 5 years. Usually the value of the claims are quite substantial. When the water has damaged ceilings, carpets and flooring, the whole lot needs to be replaced using qualified tradesmen, (more...)