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Car Insurance and Your Credit Score North Platte NE

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.

Farmers Insurance Agent Curtis Steven
(308) 532-0611
103 North Dewey Street
North Platte, NE
 
Burbach- William J
(308) 532-3875
320 E B St
North Platte, NE
 
State Farm Insurance Companies Claim Office
(308) 532-9782
102 McNeel Lane
North Platte, NE
 
American Family Insurance - Frieda Heinzen
(308) 530-7590
Po Box 909
North Platte, NE
 
Allstate Auto Insurance
(888) 355-7971
205 Locust St
Kimball, NE
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Diana L Phelps Ins Agency Inc - State Farm Insurance Agent
(308) 532-6994
801 South Dewey Street
North Platte, NE
 
Waldschmidt- James A - State Farm Insurance Agent
(308) 532-8115
202 South Chestnut Street
North Platte, NE
 
Jack Morris Ins Agency Inc
(308) 532-3500
810 W Reid Ave
North Platte, NE
 
Allstate Auto Insurance
(888) 355-7971
1010 Central Ave
Nebraska City, NE
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate - Paul Edward Stuke
(402) 817-1509
2851 Capehart Road, Suite G
Bellevue, NE
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

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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