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Car Insurance and Your Credit Score Gettysburg PA

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
545 W Middle St
Gettysburg, PA
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Ball- Michael R - State Farm Insurance Agent
(717) 334-4908
705 Old Harrisburg Road North Gettysburg Shopping Center
Gettysburg, PA
 
Beckner- Susan - State Farm Insurance Agent
(717) 632-1330
424 Main Street
Mcsherrystown, PA
 
Allstate Insurance - Laura Lowman- Wertman
(717) 646-8238
1147 Eichelberger St
Hanover, PA
 
Fischer Insurance Agency
(717) 632-1323
235 North Railroad Street
Hanover, PA
 
Allstate Auto Insurance
(888) 355-7971
705 W Myrtle St
Littlestown, PA
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Danner's Inc
(717) 677-8733
3340 Biglerville Road
Biglerville, PA
 
Drago- Frances T - State Farm Insurance Agent
(717) 637-6062
240 Frederick Street
Hanover, PA
 
Baugher Insurance Agency
(717) 632-3200
110 Broadway
Hanover, PA
 
Insurance Exchange Limited
(717) 632-6001
217 Frederick Street
Hanover, PA
 

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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