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Car Insurance and Your Credit Score Beeville TX

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.

Bomersbach- Raymond D - State Farm Insurance Agent
(361) 358-1169
510 East Houston Street
Beeville, TX
 
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(888) 355-7971
2251 Double Creek Dr
Round Rock, TX
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Lilla Wright
(281) 301-0872
12288 Westheimer Road Suite 350
Houston, TX
Description
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Allstate Auto Insurance
(888) 355-7971
9461 Lyndon B Johnson Fwy
Dallas, TX
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
911 Elizabeth Dr
Lewisville, TX
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

Brooke Ins Agency
(830) 583-2020
1434 N Sunset Strip St
Kenedy, TX
 
Allstate Auto Insurance
(888) 355-7971
618 S Guadalupe St
San Marcos, TX
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Phone Hours
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Allstate Auto Insurance
(888) 355-7971
2808 Landmark DR
Baytown, TX
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Phone Hours
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Allstate Auto Insurance
(888) 355-7971
2376 Lavon Dr
Garland, TX
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Allstate Auto Insurance
(888) 355-7971
12110 Greenspoint Dr
Houston, TX
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SUN - SAT 12:00AM - 12:00AM

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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