Auto Leasing Guide
Go to LeaseGuide.com now !

Car Insurance and Your Credit Score Bismarck ND

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 - Pat Stocking
(701) 369-3325
1929 N. Washington St.
Bismarck, ND
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Farmers Insurance
(701) 221-9724
1110 College Drive Suite 215
Bismarck, ND
 
Allstate Insurance Companies
(701) 255-7141
1929 North Washington Street
Bismarck, ND
 
State Farm Insurance
(701) 628-2532
Po Box 1538
Bismarck, ND
 
American Family Insurance - Agents- Dee Heintz- Mark Burke
(701) 250-6020
1929 North Washington Street
Bismarck, ND
 
Allstate Auto Insurance
(888) 355-7971
1929 N Washington St Ste PPP
Bismarck, ND
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Gotta Ins Agency Inc - State Farm Insurance Agent
(701) 258-5577
2215 East Main Avenue
Bismarck, ND
 
Richter- Terry M - State Farm Insurance Agent
(701) 223-8757
201 North 19th Street
Bismarck, ND
 
Allstate Insurance - Patrick N Stocking
(701) 223-4548
1929 N Washington St
Bismarck, ND
 
Dan Seifert Ins Agency Inc
(701) 222-0404
1100 E Capitol Ave
Bismarck, ND
 

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 ...

Click here to read the rest of this article from Lease Guide