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.