Great Credit Scores Lower Insurance Premiums
September 2nd, 2010
Did you know that having good credit may save you money when purchasing car insurance? While comparing rates with different local agencies I was stunned to find that some insurance companies base the majority of their premiums on a the drivers credit score. Not all insurance companies use a driver’s credit score to determine a driver’s premiums but when they do the cost of auto insurance can go up or down by hundreds of dollars. Really the only way to find out if insurance companies are using this method is to call multiple insurance agencies and compare the different car insurance quotes obtained. There is no state that makes it mandatory for an insurance company to use your credit score when calculating insurance premiums.
Entry Filed under: Insurance