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Car Insurance and Your Credit Score Gulfport MS

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
1012 Pass Rd
Gulfport, MS
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Robert Dean
(228) 206-4227
304 E. Railroad St.
Long Beach, MS
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

USA Insurance CO
(228) 868-3070
1723 22nd Avenue
Gulfport, MS
 
Warren E G Insurance
(228) 864-2060
1301 Passage Road
Gulfport, MS
 
Chapman & Jarrard Insurance Inc
(228) 864-4007
1600 Passage Road
Gulfport, MS
 
Allstate Auto Insurance
(888) 355-7971
304 E Railroad St
Long Beach, MS
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Worldwide Insurance Agency II
(228) 863-4556
1900 Passage Road Suite A
Gulfport, MS
 
USA Insurance CO - Claims Department
(228) 497-3000
1723 22nd Avenue
Gulfport, MS
 
Allen & Smith Insurance
(228) 868-9270
2401 23rd Avenue
Gulfport, MS
 
Cain Insurance Agency Inc
(228) 863-4061
1626 24th Avenue
Gulfport, MS
 

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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