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Car Insurance and Your Credit Score Boiling Springs SC

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
9308 Ashville Hwy
Inman, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Terry Archenhold
(864) 757-4618
1955 E Main St Ste A
Duncan, SC
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
611 W Wade Hampton Blvd
Greer, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Jim Hart Ins Agcy Inc - State Farm Insurance Agent
(864) 578-3567
2125 Boiling Springs Road
Spartanburg, SC
 
Wanda F Bradey Ins Agcy Inc - State Farm Insurance Agent
(864) 578-7000
2908 Boiling Springs Road
Boiling Springs, SC
 
Allstate - Steve Lee
(864) 810-4129
126 South Blackstock Rd
Spartanburg, SC
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
996 Batesville Rd
Greer, SC
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance Companies - Sales Offices- Boiling Springs
(864) 578-1875
2603 Boiling Springs Road
Boiling Springs, SC
 
Allstate Insurance Company
(864) 578-1875
2603 Boiling Springs Road
Boiling Springs, SC
 
Allstate Insurance Companies
(864) 578-4140
5535 Highway 9
Spartanburg, SC
 

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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