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Car Insurance and Your Credit Score Buckhannon WV

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.

Sabo- Sharon A - State Farm Insurance Agent
(304) 472-5390
RR 6 Box 426
Buckhannon, WV
 
Brian Taylor Inc.
(304) 472-0223
117 S Kanawha St
Buckhannon, WV
 
Kathy R. Stovers Agency
(304) 269-1700
29 Garton Plz
Weston, WV
 
Gerald E. Gain Jr. Agency
(304) 457-4022
RR 2 Box 159
Philippi, WV
 
Allstate Auto Insurance
(888) 355-7971
3213 E Cumberland Rd
Bluefield, WV
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Karlen Insurance
(304) 472-5720
R R 3 Box 132
Buckhannon, WV
 
Tierney- Kelley C - State Farm Insurance Agent
(304) 472-5552
115 East Main Street
Buckhannon, WV
 
Garton- Jennifer L - State Farm Insurance Agent
(304) 269-1414
51 Circle Heights Road
Weston, WV
 
Allstate - Stanley Cameon
(681) 533-1321
2369 White Hall Blvd.
Fairmont, WV
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
1543 Fairmont Ave
Fairmont, WV
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

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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