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Car Insurance and Your Credit Score Post Falls ID

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 - Andy Cline
(866) 609-2443
780 N Cecil Rd Ste 104
Post Falls, ID
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
13785 W Hwy 53 Ste 5
Rathdrum, ID
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
14822 N Newport Hwy
Mead, WA
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Big Bend Insurance Agency
(208) 457-1777
1596 East Seltice Way
Post Falls, ID
 
Deitz Insurance Agency Inc
(208) 664-2155
314 N 4th St
Coeur D Alene, ID
 
Allstate - James Gray
(866) 609-6113
1621 N 3Rd St Ste 800
Coeur D Alene, ID
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
2310 N Molter Rd
Liberty Lake, WA
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Beck- Edward A
(208) 773-7537
1810 E Schneidmiller Ave
Post Falls, ID
 
Simaitis- Vyto
(208) 765-2439
3115 N Government Way
Coeur D Alene, ID
 
Silvermark Insurance
(208) 664-8141
2020 North Lakewood Drive
Coeur D Alene, ID
 

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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