Auto Leasing Guide
Go to LeaseGuide.com now !

Car Insurance and Your Credit Score Helena 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.

MacLaurin Insurance Agency Inc - State Farm Insurance Agent
(406) 443-0867
601 Euclid Avenue Ste D
Helena, MT
 
Farmers Union Insurance
(406) 443-4630
1900 North Last Chance Gulch Street Suite 4
Helena, MT
 
Grimsrud- Gayle L - State Farm Insurance Agent
(406) 449-8793
1303 11th Avenue
Helena, MT
 
State Farm Insurance Companies - Agents- Maclaurin James Buck
(406) 443-0927
601 Euclid Avenue
Helena, MT
 
Allstate Insurance-Carrie Martin- CPCU- CIC
(406) 442-5993
1120 Helena Ave
Helena, MT
 
Farmer's Union Insurance
(406) 443-4630
1900 North Last Chance Gulch Street Suite 4
Helena, MT
 
Harper- Michael S
(406) 442-8530
25 Neill Ave Ste 211
Helena, MT
 
Bolstad- Jeffrey A
(406) 449-2545
2905 N Montana Ave
Helena, MT
 
Farmers Insurance Group - Claims Representative
(406) 442-5250
321 8th Avenue
Helena, MT
 
Donaldson- Jim F - State Farm Insurance Agent
(406) 442-4788
1225 Birch Street Ste A
Helena, MT
 

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 ...

Click here to read the rest of this article from Lease Guide