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Car Insurance and Your Credit Score Laconia NH

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
614 Laconia Rd
Tilton, NH
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
73 Main St
Alton, NH
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance
(603) 524-3541
66 Hill Road
Tilton, NH
 
J Clifton Avery Agency Inc
(603) 569-2515
21 South Main St.
Wolfeboro, NH
 
New York Life Insurance CO
(603) 859-6381
170 Old Bay Road
New Durham, NH
 
Allstate Auto Insurance
(888) 355-7971
35 Center St
Wolfeboro, NH
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Merwin- Robert S - State Farm Insurance Agent
(603) 524-4087
476 Union Avenue
Laconia, NH
 
Wayne Wright Insurance Services Inc
(603) 875-1211
73 Main St
Alton, NH
 
Bill Cummings
(603) 934-3141
446 Central St
Franklin, NH
 
Allstate Insurance - Donald Smialek
(603) 536-5161
56 Main St
Plymouth, NH
 

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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