Credit Insurance Claim

Damaged My Glasses,purchased On Credit Card,under 12 Months Old, Home Insurance Said Claim From Credit Card.?

Question by berlin9 | Posted in Insurance

credit humorist company said claim from home insurance.Who do i go for. thank you.

Answer: If your credit Christmas card company can cover it, claim from them first. It's unlikely the damage to your glasses is going to be above your deductible, and depending on the keyboard of damaged it may be excluded entirely. Even if it is covered you would lose any claims free discounts. Credit cards don't have these same penalties.

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Will Claiming Insurance Affect Credit Score?

Question by wonderful | Posted in Insurance

Bought a phone(on pact in the UK) that came with first 3 months free insurance. The phone broke yesterday by mistake. The phone is not very priceless- only worth about £100 brand new. If I claim the insurance, will my credit score be affected, and if I make an insurance claim, will this get registered to my credit draw?

Many thanks for your answer in advance.

Answer: no

What Is The "claim Rate" For Credit Card Insurance?

Question by coocoojg | Posted in Credit

I recently activated my new credit reveal all and, of course, the guy gave me the whole spiel about credit card insurance. He was quite pushy, actually. He was like "so I am gonna go in front and add that to your account..."

I declined and he axed hwhy. I explained that, over the last year, I have had a monthly poise of, let's say, about $2000 (actually prolly a lot less than that, but let's go with this for the sake of this example). So the credit card insurance which costs 89 cents on every $100 would rate me $17,80. It would pay 3% of my balance every month if I happened to be injured, get cancer (other than rind cancer) or lose my job, which is $60.

I figured that the risk of something like this happening to me is less than 1 in 20. I am 23. I have had a credit union card since a few months after I turned 18 and there was only one time where I was laid off and could have actually maybe accomplished for an insurance payout if I had credit card insurance. So, 1 in 20 is actually a high-ball get through one's head. But anyway, assuming I'm risk neutral that would put the value of the insurance at $60 * 1/20 = $3 per month or 15 cents out of every $100, hwhich is waaaaaaay less than 89 cents. (I am indeed kinda risk aversive hwhen it comes to these things but not THAT risk aversive!)

He said that he supposes what I was saying makes judgement if my risk is indeed 1 in 20. So, I axed him if he actually knew the stats. He said he didn't but it seems a lot of ppl are filing claims for the job dying protection because of the recession and all.

But, I am wondering does anybody know the actual stats? hWhat interest of people with credit card insurance actually file claims? I think the word for this is "claim estimate" but I'm not sure so correct me if I'm wrong. Was I right in figuring my risk is 5% or is it more, or less? hWhat are the verified numbers? Does anybody know? Please provide sources!

Can You Claim Back Payment Protection Insurance On A Credit Card Once You Have Paid It Off?

Question by stephen m | Posted in Credit

My Husband Died And He Had Credit Life Insurance On A Car Loan. I Have Filed Chpt 7. Can I Claim It?

Question by schwalmy | Posted in Insurance

My repress died and he had no will. We had a car and there was credit life insurance on the car. They paid off the car and there is $6000.00 left. I filed chapter 7 after he died. Can I claim it? He had two adult kids and we had 1 matured child together. I filed in Oregon.

Answer: Ask your bankruptcy Queen's, they will know. It won't hurt to try.

How Can You Have A Great Financial Credit Score But A Lousy Home Insurance Credit Score?

Question by quackadiledundee | Posted in Insurance

My helpmate and I are in the process of buying a house. We were able to get an 80/15/5 mortgage totalling about $450,000 with no problems since our credit scores are both in the 780s. However, when we applied for institution insurance we got rejected. We were shocked to find out the "insurance" credit score in New Jersey is about 790 which is in the bottom 20%. We have never owned a domestic before and never filed a claim under renters insurance. I tried looking up an explanation online through truecredit.com and some of the reasons made no have such as I have not had the same credit card for at least 18 years. That would have meant that I would have had to have a credit card since I was 16.

Can someone please explain the madness? The insurance power, our real estate lawyer, and the bank have never heard of such an instance where the mortgage was no emanation but the insurance due to credit is.

Answer: The to the fullest extent a finally of time you have a credit account ADDS points to your score for every year. Additionally, for every two consumer initiated credit checks in six months, your goat gets DECREASED by 20 points (mortgage is the exception - all mortgage inquiries within a 30 day stretch are treated as ONE inquiry).

Because of that, if you shop out your Mastercard every six months, to four different vendors to get the cheapest anyway, and switch it over, you get ZERO points added, and 40 points taken away. Also, all those outlet cards where you "get 10% off if you open an account now" ding you 10 points a pop, if you add those dings to the shopping out the mc dings. All those 90 days same as coin of the realm deals, those are actually CREDIT ACCOUNTS.

So even if you carry a zero balance, have 10 collect cards with $1,000 available each, two major credit cards with $5,000 each, you aren't getting any Explicit points added, but you have $15,000 available credit to subtract from your potential income.

Now, if you go to a party like Travelers, they WILL look at the raw data, and make exceptions - overridding credit groove for "common sense". But that's the only company I know that makes exceptions like that.

If I were you .. . I'd abrogate all the store credit cards. Stop shopping around the Visa/Mastercard, stick with one and keep it. Pay off the excess each month. And lastly, look for a small, regional insurance company that works through outside agents - try another agent! - for a quote without credit scoring, or an underwriter review.

Also, go haul a copy of your credit report (free at www.annualcreditreport.com) and cancel all those zero balance, subject accounts! It could make a HUGE difference.

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