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Car Insurance and Your Credit Score Butte 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.

State Farm Insurance Companies
(406) 494-3808
3825 Harrison Avenue
Butte, MT
 
Ori- Shawn T - State Farm Insurance Agent
(406) 494-2728
1667 Dewey Boulevard
Butte, MT
 
Leo Mccarthy Ins Agcy Inc
(406) 723-3285
690 S Excelsior Ave
Butte, MT
 
Allstate Auto Insurance
(888) 355-7971
1410 S Reserve
Missoula, MT
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

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

Lynch- James J
(406) 494-3300
600 Dewey Blvd
Butte, MT
 
New York Life Insurance Company General Sales Office
(406) 723-4378
44 West Park Street
Butte, MT
 
Gardner- Todd W
(406) 723-4331
1917 Harrison Ave
Butte, MT
 
Allstate - Larry Wokral
(406) 219-8974
514 N. First St., Suite B
Hamilton, MT
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
1201 10th Ave S
Great Falls, MT
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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