Federal law requires all insurers to notify policyholders if they do not receive a company's very best rate due in part to the insurance score, and that is why you are receiving this notice. Had your insurance score been more favorable, you would have qualified for a lower rate.
Who? Us? Not get the best rate? Us! Little ole us, who have NEVER submitted a claim. ALWAYS pay our bills on time (OK, there was last month's Costco bill, but it was an honest oversight. Oh, and the LL Bean bill from last year, which I NEVER saw the first time, honestly.) And, our credit score is about as good as it gets people.
Notice that I have issues? I must be liked by all, including the insurance company.
I called the insurance company with a question, I promise, it had nothing to do with this little piece of verbiage in the contract. However, since I had them on the phone I asked.
"So, exactly, what does this mean? Is this a general statement that is printed in all forms, or did we not receive the best rate due to a low score."
In case you were wondering, in order to receive the "best rate" you must have a "perfect score."
All those with a perfect credit score please raise your hand.
Yep, thought so.
So, for all those wondering how high one's score needs to be in order to receive the "best rate," that would be a "perfect score." So, I'm guessing no one receives the best rate. Though, the nice lady at the insurance company did inform me that we were highly rated.
OK, my ego, and fragile self-esteem, can take "pretty highly rated."
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