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Car Insurance and Your Credit Score Muscatine IA

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
516 W 35th St
Davenport, IA
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Miller Harrison & Becky Ins
(563) 263-6044
100 W 2nd St
Muscatine, IA
 
Keig- Robert J
(563) 263-7355
415 Iowa Ave
Muscatine, IA
 
Ingstad- Jon S - State Farm Insurance Agent
(563) 732-3933
322 Cedar Street
Wilton, IA
 
American Family Insurance - Illinois Agents- Rock Island- ORTH Michael
(309) 788-7678
11021 14th Street West
Milan, IL
 
Shepley- Brian M - State Farm Insurance Agent
(563) 263-2744
2206 Lucas Street
Muscatine, IA
 
Snyder- Barbara A
(563) 263-7166
1613 Plaza Pl
Muscatine, IA
 
Garcia-Van Auken- Brenda - State Farm Insurance Agent
(563) 263-7166
2021 Cedar Plaza Drive
Muscatine, IA
 
James-Scheff- Madge M - State Farm Insurance Agent
(563) 388-8135
2720 West Locust Street Ste B3
Davenport, IA
 
Glen Gerardy Ins Agency Inc - State Farm Insurance Agent
(309) 786-7480
3416 Blackhawk Road Suite 204
Rock Island, IL
 

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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