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Car Insurance and Your Credit Score Las Cruces NM

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
1129 N Willow St
Las Cruces, NM
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
850 Holly Dr Trlr A19
Las Cruces, NM
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance Companies - Sales Offices- Las Cruces
(505) 647-1908
509 South Main Street
Las Cruces, NM
 
Agency Of Stanford Locke
(505) 523-8808
A Suite
Las Cruces, NM
 
Gomez- Robert L
(505) 524-0237
1615 N Solano Dr
Las Cruces, NM
 
Allstate Auto Insurance
(888) 355-7971
170 S Roadrunner Pkwy
Las Cruces, NM
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Jodi-Rae Moore
(575) 224-2980
1065 S. Main St., Suite A
Las Cruces, NM
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Farmers Insurance Group
(505) 526-8900
1977 Bridger Avenue
Las Cruces, NM
 
Griego- Richard Gary - State Farm Insurance Agent
(505) 523-2451
2001 East Lohman Avenue Ste 112
Las Cruces, NM
 
Larry O Garcia
(505) 541-5870
2990 N Main St
Las Cruces, NM
 

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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