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Car Insurance and Your Credit Score Kearney NE

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.

Kenton- Larry L
(308) 234-2090
3811 Central Ave
Kearney, NE
 
Cory Kruse Insurance Agcy Inc - State Farm Insurance Agent
(308) 234-2740
3320 2nd Avenue
Kearney, NE
 
Osentowski- Richard A - State Farm Insurance Agent
(308) 234-9713
311 West 11th Street
Kearney, NE
 
Nebraska Blue Cross & Blue Shield
(308) 236-4841
1809 West 38th Street
Kearney, NE
 
Allstate Auto Insurance
(888) 355-7971
431 Galvin Rd N
Bellevue, NE
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance Companies
(308) 237-5622
2022 Avenue A
Kearney, NE
 
Pawloski- Matthew R - State Farm Insurance Agent
(308) 233-3276
216 West 42nd Street
Kearney, NE
 
Ledroit- Gloria D
(308) 234-9812
201 W 18th St
Kearney, NE
 
Snavely- Kimberly L - State Farm Insurance Agent
(308) 832-2168
243 North Minden Avenue
Minden, NE
 
Allstate Auto Insurance
(888) 355-7971
19136 Harrison St
Omaha, NE
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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