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Car Insurance and Your Credit Score Brigham City UT

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.

Price- Dan R
(435) 723-8798
23 E 700 S
Brigham City, UT
 
Thomas M Ehrhart Ins Agcy Inc - State Farm Insurance Agent
(435) 734-2054
29 East 200 North
Brigham City, UT
 
Jeppesen Insurance Agency Inc - State Farm Insurance Agent
(435) 257-3940
60 North 100 West
Tremonton, UT
 
Gleason Cheri Agency Producer Insurance
(435) 257-3829
305 East Main Street
Tremonton, UT
 
Cottle- Eldon G
(801) 782-6601
2313 N 400 E
North Ogden, UT
 
Leavitt Group of Northern Utah
(435) 723-2614
86 South Main Street
Brigham City, UT
 
Layton Brent C
(435) 257-3829
305 East Main Street
Tremonton, UT
 
Huber-Leavitt Insurance Agency
(435) 257-0155
216 East Main Street
Tremonton, UT
 
Allstate Insurance Companies
(435) 257-5320
216 East Main Street
Tremonton, UT
 
Eldon Cottle Insur Agency Inc - State Farm Insurance Agent
(801) 782-6601
2313 North 400 East
North Ogden, UT
 

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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