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Car Insurance and Your Credit Score Brewton AL

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.

Frazier- Wilodyne W - State Farm Insurance Agent
(251) 867-4518
711 Douglas Avenue
Brewton, AL
 
Lovelace Yancey E Insurance
(251) 867-8081
1012 Douglas Avenue
Brewton, AL
 
Larry White Insurance Agency
(251) 296-2471
430 Palafox Street
Flomaton, AL
 
Allstate Auto Insurance
(888) 355-7971
211 A St
Mobile, AL
Description
Safe Drivers Save up to 20% on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
4722 Woodmere Blvd
Montgomery, AL
Description
Safe Drivers Save up to 20% on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Horton's Insurance Agency
(251) 867-5565
703 Forrest Avenue
Brewton, AL
 
Allstate Insurance Companies
(251) 867-8081
1012 Douglas Avenue
Brewton, AL
 
Allstate Insurance Companies
(850) 256-0300
1310 South Highway 29
Century, FL
 
Allstate Auto Insurance
(888) 355-7971
7268 Deerfoot Pkwy
Trussville, AL
Description
Safe Drivers Save up to 20% on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - J Standifer
(205) 208-1050
277 Village Parkway
Helena, AL
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

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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