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Car Insurance and Your Credit Score Ashland KY

Your credit score is used by car insurance companies to determine what you pay. It's important to know your score before you shop for insurance. It's easily possible that someone who has never had an accident and never filed a claim could pay up to three times as much for insurance as another similar customer with an identical vehicle โ€” because of differences in credit scores.

Allstate Auto Insurance
(888) 355-7971
4332 13th St
Ashland, KY
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Moore Insurance Agency
(606) 329-9257
211 15th Street
Ashland, KY
 
New York Life
(606) 324-6836
1000 29th Street
Ashland, KY
 
Charles C Adams Insurance
(606) 325-9709
221 20th St
Ashland, KY
 
Hester- Anthony S - State Farm Insurance Agent
(606) 325-8591
1013 Carter Avenue
Ashland, KY
 
Allstate Auto Insurance
(888) 355-7971
974 Diedrich Dr
Flatwoods, KY
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Thoroughbred Agency- Inc.
(606) 325-2491
1430 Winchester Av
Ashland, KY
 
Charles E. Davis Agency
(606) 928-3787
8136 Us Route 60 # U
Ashland, KY
 
Melvin- Paul H - State Farm Insurance Agent
(606) 324-4159
2101 Carter Avenue
Ashland, KY
 
Prudential Insurance and Financial Services
(606) 325-2491
1430 Winchester Avenue
Ashland, KY
 

Car Insurance and Your Credit Score

Many car insurance companies now use your credit score to determine what you pay. Why? Because they say studies show that customers with poor credit histories are more likely to be in accidents and file claims. They claim that customers with bad scores are higher risks and it's only fair that those customers pay more for their policies.

Insurance regulations in many states now allow this practice, although regulatory administrators admit they don't understand the connection between credit scores and car accident claims.

It's easily possible that someone who has never had an accident and never filed a claim could pay up to three times as much for insurance as another similar customer with an identical vehicle โ€” because of differences in credit scores.

How does it work?
Insurance companies use a secret formula to calculate a customer's "insurance score" that is not quite the same as the more familiar FICO score from credit reporting agencies such as , Transunion, and Experian. Although the score itself may be different, the end result will nearly always be the same. If a customer has a poor FICO score, he'll almost certainly have a poor insurance score.

Companies such as Allstate charge poor-credit customers as much as three times the rate for customers with excellent credit. In fact, credit history is becoming one of the major factors, if not the major factor, in determining insurance rates.

Insurance companies want ...

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