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Car Insurance and Your Credit Score Hilo HI

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.

Aloha Auto Extended Warranty Coverage
(808) 989-5116
688 Kinoole Street Suite 111A
Hilo, HI
 
Allstate Insurance-Alan A. Oda
(808) 935-3360
282 Ululani St
Hilo, HI
 
Allstate - Daniel Dennis
(866) 602-8648
1877 Wili Pa Loop Ste 3
Wailuku, HI
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
94-615 Kupuohi St
Waipahu, HI
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
Hawaii Kai
Honolulu, HI
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance Companies
(808) 969-9271
282 Ululani Street
Hilo, HI
 
Allstate Auto Insurance
(888) 355-7971
4211 Waalae Ave Ste H7
Honolulu, HI
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Marc Dixon
(866) 602-7309
91-1001 Kaimalie St # 204
Ewa Beach, HI
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
75-1000 Henry St The Borders Bldg 2nd
Kailua Kona, HI
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Daniel Dennis
(866) 603-8052
95-1095 Ainamakua Dr Ste 3
Mililani, HI
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

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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