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Additional Details
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Additional Details
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Jimmy's Wife
Auto Insurance, College Degree, and Underwriting?
I am changing to Farmer's Insurance for Auto Insurance. My agent tells me that they will need to scan my college degree for underwriting to process my application and discount.

My questions are the following:
1. What will underwriting do once they receive the scan?
2. Will they sell my name and info to marketing agencies?
3. What does college have anything to do with auto insurance?
4. Are they going to call my work and school to verify information (not that I am lying, but I like my private business private.)?

Thanks for your time.
                     
 




RB
Rating
1) The scanned document will be placed in your file. Plus to verify the fact that you are a college grad.
2) No, they won't sell your information.
3) Havin a degree shows more stability, thus some companies will give you a discount.
4) No, they won't contact your work or school.

Hope this helps.


mbrcatz
Farmers offers a discount to college graduates? I had no idea.

Anyway. Here are your answers:

1. They attach it to your application file, and apply the discount.
2. No.
3. I have no idea - I've never heard of an insurance company offering a discount to college graduates. I'd ask the agent, how MUCH is the discount?
4. No. The only time they'd verify something like that, is if it's material to a big claim, and they suspect fraud. Something like a 'good student discount' or college grad discount isn't going to be material enough to matter. IMO.


Jifr
Rating
Re # 3.......most insurers offer discounts for 'good grades'. If you are in college this may apply to you.

Re #4....they usually don't call anyone.

re #2...if they are going to 'sell' anything - they have to disclose it to you.


stephenweinstein
1 and 3. There is a discount for being a college graduate. This is because they expect that professionals have fewer accidents than other persons. If you cannot find the original diploma, a transcript from the registrar should be adequate.
2. Maybe. But if so, they will do so with or without the degree, so giving it to them will have no effect on this.
4. Possibly, but unlikely.


src50
Rating
Good questions to ask Farmer's. I've never heard of this before, but apparently their underwriting criteria includes an "education level" component. If you're not comfortable with this, you may want to look for other insurance.


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