Auto Leasing Guide
Go to LeaseGuide.com now !

Car Insurance and Your Credit Score La Follette 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
701 W Central Ave
La Follette, TN
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
356 Charles S Seivers
Clinton, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

TRH
(423) 562-2441
104 Colonial Heights
La Follette, TN
 
Brown John R Insurance Agent State Farm
(423) 562-3126
Fleet Building
La Follette, TN
 
State Farm Insurance Companies
(423) 562-8346
Fleet Building
La Follette, TN
 
Allstate Auto Insurance
(888) 355-7971
3740 Maynardville Hwy
Maynardville, TN
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
7605 Blueberry Rd
Powell, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

State Farm Insurance
(423) 626-0258
3210 South Highway 25
La Follette, TN
 
Security Insurance Agency of LA Follette
(423) 562-3665
1901 Old Jacksboro Highway Suite 2
La Follette, TN
 
Farm Bureau Insurance Services
(423) 566-0402
104 Colonial Heights
La Follette, 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