Insurance Scoring
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Insurance Scoring
Greetings!
As industry leaders, we think it is important to keep you informed of industry trends and developments. Using insurance scoring in rating is now emerging in the high performance boating segment and we want you to understand what it is and why it may save you money.
Insurance scoring has been used for years in homeowners and auto insurance and has been statistically proven to be predictive of future losses. An insurance score is derived from your credit history. Overall, insurance scores consider patterns of credit management practices. Single incidents generally have minimal impact.
What does this mean to you? If you are financially responsible, your insurance premium will be significantly lower than someone who is not. Markel incorporates insurance scoring in their rating and we have been able to save many customers on their premiums.
Elton Porter’s service is second to none and Markel has the most tenure insuring performance boats. If you have not given us a try, please do, we insure all types of performance boats and look forward to earning your business.
Thanks!
As industry leaders, we think it is important to keep you informed of industry trends and developments. Using insurance scoring in rating is now emerging in the high performance boating segment and we want you to understand what it is and why it may save you money.
Insurance scoring has been used for years in homeowners and auto insurance and has been statistically proven to be predictive of future losses. An insurance score is derived from your credit history. Overall, insurance scores consider patterns of credit management practices. Single incidents generally have minimal impact.
What does this mean to you? If you are financially responsible, your insurance premium will be significantly lower than someone who is not. Markel incorporates insurance scoring in their rating and we have been able to save many customers on their premiums.
Elton Porter’s service is second to none and Markel has the most tenure insuring performance boats. If you have not given us a try, please do, we insure all types of performance boats and look forward to earning your business.
Thanks!
#2
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insurance scoring
I do not use insurance scoring with my high performance insurance program.I also use yacht insurance carriers such as RLI,SEAWORTHY,and OLD UNITED who do not use credit scoring either.I guess WARREN BUFFETT (SEAWORTHY-BERKSHIRE HATHAWAY) must not know what he is doing.
Last edited by sy goldberg; 06-24-2010 at 12:55 PM. Reason: MY LACK OF DIPLOMACY
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I do not use insurance scoring with my high performance insurance program.I also use yacht insurance carriers such as RLI,SEAWORTHY,and OLD UNITED who do not use credit scoring either.I guess WARREN BUFFETT (SEAWORTHY-BERKSHIRE HATHAWAY) must not know what he is doing.
#4
cant imagine why my credit score would (or should) have anything to do with my insurance premiums. The reason i say this is my credit is not perfect, its not bad but far from perfect. You'd think the fact that i have never made an insurance claim of any kind in my entire 43 years would cary more weight also the fact that i have never had any sort of accident ever. i would think ones driving and claims record should be the only pertanant info.
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Throttles- Cleveland Construction 377 Talon
08 OPA Class 1 National Champion
08 Class 1 Geico Triple Crown Champion
08 OPA High Points Champion
10 OPA Class 1 National Champion ( happy now Ed! )
Last edited by glassdave; 06-24-2010 at 12:06 AM.
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cant imagine why my credit score would (or should) have anything to do with my insurance premiums. The reason i say this is my credit is not perfect, its not bad but far from perfect. You'd think the fact that i have never made an insurance claim of any kind in my entire 43 years would cary more weight also the fact that i have never had any sort of accident ever. i would think ones driving and claims record should be the only pertanant info.
Big Andy
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More Input On Credit Scoring
I have to laugh when some of the carriers that use I use call me and complain about the lack of new business.I respond by telling them that a rational company got the business due to the fact that they used boating related methods of quoting the premium instead of a meaningless credit score.I have clients for over 20 years that have only average credit scores but have never had a claim.
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Big Andy
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My offshore is insured through sy, and I am very impressed with it. Seemed a little more old school than most. (nothing against markel or stacy) But it was very nice to have someone look at boat insurance with a real world set of eyes, not just by numbers