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Car Insurance and Your Credit Score Hutchinson KS

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.

Nickel- Susan J - State Farm Insurance Agent
(620) 662-7212
201 East 2nd Avenue
Hutchinson, KS
 
Corey- John L - State Farm Insurance Agent
(620) 663-1571
920 North Main Street
Hutchinson, KS
 
West- Gregory T - State Farm Insurance Agent
(620) 665-5854
216 East 30th Avenue
Hutchinson, KS
 
The Redinger Agency Inc
(620) 662-9008
1801 North Plum Street
Hutchinson, KS
 
American Family Insurance
(620) 278-2789
127 South Broadway Avenue
Sterling, KS
 
Bergkamp Insurance Center
(620) 662-7067
22 North Main Street
Hutchinson, KS
 
Herchel Crainer Ins Agy Inc - State Farm Insurance Agent
(620) 663-9139
1315 East 17th Avenue
Hutchinson, KS
 
Mallory- Larry R - State Farm Insurance Agent
(620) 663-5271
2913 North Plum Street
Hutchinson, KS
 
Deana M Ackerman Ins Agcy Inc - State Farm Insurance Agent
(620) 663-9983
2721 North Main Street
Hutchinson, KS
 
Allstate Auto Insurance
(888) 355-7971
8939 West Central
Wichita, KS
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

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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