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Car Insurance and Your Credit Score Bend OR

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
233 Sw Wilson Ave #204
Bend, OR
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
1604 S Highway 97
Redmond, OR
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Hornback- Fredrick J - State Farm Insurance Agent
(541) 382-6828
1180 Southeast Division Street Ste 2
Bend, OR
 
Marken- John R - State Farm Insurance Agent
(541) 389-4227
824 Southeast 3rd Street
Bend, OR
 
Farmers Insurance Group
(541) 389-0593
389 Southwest Scalehouse Court
Bend, OR
 
Allstate - Paul Tornay
(458) 206-1094
560 NE Greenwood Ave., Suite A
Bend, OR
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Insurance
(541) 318-8835
243 Sw Scale House Loop # 4
Bend, OR
 
Blue Cross & Blue Shield of Oregon
(541) 389-7063
600 Southwest Columbia Street
Bend, OR
 
Chrisman- James E
(541) 388-9204
1288 Sw Simpson Ave Unit B-1
Bend, OR
 
Central Oregon Inspections
(541) 382-1355
3105 Northeast Dennis Court
Bend, OR
 

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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