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Car Insurance and Your Credit Score Opelousas LA

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
650 W Lasalle St
Ville Platte, LA
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
5644 Cameron St
Scott, LA
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

ICT Insurance
(337) 942-4994
105 North Main Street
Opelousas, LA
 
Ignatius T Castille Agcy Inc - State Farm Insurance Agent
(337) 948-9801
2305 South Union Street
Opelousas, LA
 
Meche- James Onezime - State Farm Insurance Agent
(337) 684-6393
250 West Plaquemine Street
Church Point, LA
 
Allstate Auto Insurance
(888) 355-7971
748 Malapart RD Lot 6
Lafayette, LA
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Acadiana Financial Concepts
(337) 942-6784
9384 Highway 182
Opelousas, LA
 
Amy Virginia
(337) 942-6775
4843 I 49 S Service Road
Opelousas, LA
 
National Automotive Insurance CO
(337) 662-5955
337 Highway 182
Sunset, LA
 
State Farm Insurance
(337) 684-4407
250 West Plaquemine Street
Church Point, LA
 

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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