Klient Banku

I have issued a cheque towards first year premium along with the proposal for insurance. The cheque dated the first of the month has been encashed by the insurance company on the third of the month. But they have issued the insurance policy only on the 19th of the month with the date of starting of risk shown as the 22nd of the month. As my cheque for the premium amount has been encashed on the third of the month itself, is not the insurance company liable to cover the risk from the date of encashment of the cheque? Does not the encashment of my cheque and crediting it to the insurance company’s account signify that they have accepted the risk from that date itself?

By: ncpadmanabhan

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but instead of giving me what I ask for they gave me credit disablility insurance and when I told them that they said that it can’t be changed even if they were the ones who made the mistake ,they are well known, is this true ? This is my first time having a car finance. If not true what can I do to correct mistake?

By: LadyCee

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My wife 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 home 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 home 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 sense 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 agent, our real estate lawyer, and the bank have never heard of such an instance where the mortgage was no issue but the insurance due to credit is.

By: quackadiledundee

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Im enrolled in college classes, and trying to drop one but i have to keep a certain amount of hours to receive insurance benifits. My question is if im taking a college course, but it doesnt offer college credits, do i receive the insurance benifits?

By: MikeyC

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insurance companies that sell or offer travel or credit insurance to clients and the agent do not need a license.

By: FREDDIE B

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Does any one but me think its bull that one can be refused auto insurance or pay a higher premium because their credit score may be lower than some other guys. Why on earth are we letting car insurance companies get buy with this? Even auto insurance companies having access to our creit history makes no sence and is a further invasion of our privacy. This practice should be outlawed.
Again what does credit score and auto insurance have to do with each other?
kendrickflorida
A credit score is not based on just weather one has paid his bills or even on time. I for example probably have 40 different credit avenues. I owe lots of money to everyone but these accounts have been active 20 to 25 years, I have never been late for even one payment in all those years. I have the same auto insurance company now at 49 and started when I was 16 so thats 33 years. they have the ordassity to say to me that your credit score is lower than say Bill Gates so you will have to pay more even though you have been our customer for 33 years and are a good driver and had no claims. you think you get the same rate as bill gates? probably not. Again I say what does car insurance have to do with Credit score.Submited by:richcu