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Car Insurance and Your Credit Score Bozeman MT

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
3508 Laramie DR Ste 2B
Bozeman, MT
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance Companies
(406) 522-0020
2506 Putter Court
Bozeman, MT
 
Daws- Brad W - State Farm Insurance Agent
(406) 587-4010
1716 West Main Street Ste 2
Bozeman, MT
 
State Farm Insurance Companies - Fire & Casualty Claims
(406) 586-3177
2054 Stadium Drive Suite A
Bozeman, MT
 
Farmers Insurance Group
(406) 586-1699
2304 West Main Street
Bozeman, MT
 
Lanphear Insurance Agency
(406) 586-5449
821 West Mendenhall Street
Bozeman, MT
 
Kohs- Lyle D - State Farm Insurance Agent
(406) 586-2200
16 North 9th Avenue Ste 5
Bozeman, MT
 
Reisinger- Richard L - State Farm Insurance Agent
(406) 586-1365
1008 North 7th Avenue
Bozeman, MT
 
State Farm Insurance Companies
(406) 587-0639
2054 Stadium Drive
Bozeman, MT
 
Elliot Insurance Agcy Inc - State Farm Insurance Agent
(406) 388-3178
29 West Main Street
Belgrade, MT
 

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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