Auto Leasing Guide
Go to LeaseGuide.com now !

Car Insurance and Your Credit Score Humboldt 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
2064 Us Highway 45 Byp S
Trenton, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Cornerstone Consolidated
(731) 784-6666
PO Box 810
Humboldt, TN
 
Terry- J Randy - State Farm Insurance Agent
(731) 784-3084
3382 Eastend Drive
Humboldt, TN
 
Jinkins- Michael F - State Farm Insurance Agent
(731) 686-1804
2076 South 1st Street
Milan, TN
 
Hill- Charles V - State Farm Insurance Agent
(731) 855-0433
317 East Eaton Street
Trenton, TN
 
Allstate Auto Insurance
(888) 355-7971
204 Carriage House Dr
Jackson, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Ray Jack Insurance Agency
(731) 784-1431
1312 East Main Street
Humboldt, TN
 
Greer- Amy - State Farm Insurance Agent
(731) 885-0433
317 East Eaton Street
Trenton, TN
 
Adams Lee Insurance
(731) 686-8334
101 Adobe Square
Milan, TN
 
Creswell Agency Insurance-Real Estate
(731) 686-1172
2038 West Van Hook Street
Milan, 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 ...

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