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Car Insurance and Your Credit Score Dalton GA

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
100 W Walnut Ave Ste 12
Dalton, GA
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

American National Insurance CO
(706) 226-0429
223 North Hamilton Street
Dalton, GA
 
Alfa Insurance
(706) 259-2265
1717 Cleveland Highway Suite A
Dalton, GA
 
ABC Insurance Services
(706) 277-1707
415 East Walnut Avenue
Dalton, GA
 
Brock Richard Insurance Agency
(706) 278-8478
224 West Cuyler Street
Dalton, GA
 
Boyett Insurance Agency
(706) 278-2415
101 North Thornton Avenue
Dalton, GA
 
Allstate Insurance-Jerry Kyer
(706) 226-5240
1219 Cleveland Hwy
Dalton, GA
 
Alfa Insurance - Dalton
(706) 226-8830
2705 Airport Road
Dalton, GA
 
Combs- William D
(706) 259-7466
1716 Cleveland Hwy
Dalton, GA
 
Birchett Insurance Agency
(706) 259-3371
1315 Cleveland Highway
Dalton, GA
 

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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