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Car Insurance and Your Credit Score Bella Vista AR

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
2106 S Main St
Gravette, AR
Description
Safe Drivers Save up to 20% on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance-Ron Watson Agency
(479) 855-6107
3404 Bella Vista Way
Bella Vista, AR
 
Farmers Insurance
(479) 251-8883
300 Jonathan Drive
Bentonville, AR
 
James Michael Landers Agency
(479) 273-7307
709 N Walton Blvd
Bentonville, AR
 
Farmers Insurance
(479) 451-0488
378 Curtis Avenue
Pea Ridge, AR
 
Farmers Insurance Group
(479) 855-1155
30 Sugar Creek Centre
Bella Vista, AR
 
Lewis- Robert P - State Farm Insurance Agent
(479) 855-6049
2832 Bella Vista Way
Bella Vista, AR
 
Trichell- James D - State Farm Insurance Agent
(479) 273-7719
202 North Walton Boulevard Ste 10
Bentonville, AR
 
Debbie McLelland Ins Agcy Inc - State Farm Insurance Agent
(479) 273-9191
1208 South Walton Boulevard
Bentonville, AR
 
Bauer- Alan F - State Farm Insurance Agent
(479) 631-7797
19th & Walnut Street
Rogers, AR
 

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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