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Car Insurance and Your Credit Score Kihei 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.

Allstate - Daniel Dennis
(866) 602-8648
1877 Wili Pa Loop Ste 3
Wailuku, HI
Description
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Allstate Insurance
(808) 893-2349
359 Hoohana Street
Kahului, HI
 
Allstate - Ross Esaki
(866) 612-4612
1311 Kapiolani Blvd Ste 503
Honolulu, HI
Description
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Allstate Auto Insurance
(888) 355-7971
3221 Waialae Ave
Honolulu, HI
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
Hawaii Kai
Honolulu, HI
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance-Florante M. Garcia
(808) 893-2349
350 Hoohana St # 1
Kahului, HI
 
Allstate Insurance Companies
(808) 661-3542
674 Luakini Street
Lahaina, HI
 
Allstate Auto Insurance
(888) 355-7971
970 N Kalaheo Ave Ste A307-
Honolulu, HI
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
94-615 Kupuohi St
Waipahu, HI
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

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!

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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