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Car Insurance and Your Credit Score Dyersburg TN

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
1935 St John Ave
Dyersburg, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance - Brian Hinson
(731) 287-1282
1935 St John Ave
Dyersburg, TN
 
Gant- L D - State Farm Insurance Agent
(731) 285-3519
220 North Main Avenue Ste 101
Dyersburg, TN
 
Michael Campbell Agency
(731) 286-2006
120 Main Ave
Dyersburg, TN
 
Direct General Insurance Agency Inc
(731) 285-7000
1295 USHighway 51 Bypass North
Dyersburg, TN
 
Associates Insurance Agency Inc
(731) 287-7016
222 East Court Street Suite A
Dyersburg, TN
 
Morgan Jay Insurance
(731) 286-5408
1160 USHighway 51 Bypass West
Dyersburg, TN
 
American National Insurance Company
(731) 285-8042
1150 Henry Street
Dyersburg, TN
 
Campbell Insurance Agency Insurance
(731) 286-2006
120 South Main Avenue
Dyersburg, TN
 
Voss Ed Insurance
(731) 285-5767
421 West Court Street
Dyersburg, TN
 

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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