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Car Insurance and Your Credit Score Logan UT

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
21 South Main
Smithfield, UT
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Ward- Mondell K - State Farm Insurance Agent
(435) 750-0900
232 South Main Street
Logan, UT
 
David B Allen Ins Agency Inc - State Farm Insurance Agent
(435) 752-7556
150 East 400 North
Logan, UT
 
The Logan Insurance Agency
(435) 752-4044
491 North Main Street
Logan, UT
 
Ronald V Brown Insur Agcy Inc
(435) 752-8444
40 W Cache Valley Blvd
Logan, UT
 
Farmers Insurance Bruce King Agency
(435) 753-6700
64 East Center Street
Logan, UT
 
Lana Powell Insurance Agy Inc
(435) 752-7639
550 N Main St
Logan, UT
 
Allstate Insurance - Jane Robinson Larsen
(435) 753-1923
87 W Center St
Logan, UT
 
State Farm Insurance - Claims Service Centers
(435) 792-6620
233 North Main Street
Logan, UT
 
Allstate Insurance Companies - Sales Office- Logan
(435) 787-4204
535 East 1400 North Suite 120
Logan, UT
 

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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