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Car Insurance and Your Credit Score Meridian MS

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
4521 Poplar Springs Dr
Meridian, MS
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance Companies
(601) 482-3332
4521 Poplar Springs Drive
Meridian, MS
 
Garrett- Charles M - State Farm Insurance Agent
(601) 482-7131
5001 Poplar Springs Drive Ste B
Meridian, MS
 
State Farm Insurance Company
(601) 482-0639
2552 North Hills Street
Meridian, MS
 
Parker Michael F Insurance
(601) 693-3545
627 25th Avenue
Meridian, MS
 
Allstate Auto Insurance
(888) 355-7971
1412 14th St
Meridian, MS
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

McDonald- Chris Q - State Farm Insurance Agent
(601) 483-7743
4542 Poplar Springs Drive
Meridian, MS
 
Alfa Insurance - Claims Office
(601) 482-8521
2500 North Hills Street Suite G
Meridian, MS
 
Barham Jairus Insurance
(601) 482-2385
2340 North Hills Street Suite C
Meridian, MS
 
Alfa Diveley Elsie - Diveley Randy
(601) 553-8695
1300 14th Street
Meridian, MS
 

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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