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Car Insurance and Your Credit Score Prescott Valley AZ

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 - Joy Chandler
(928) 224-8220
401 Whipple St.
Prescott, AZ
Description
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Farmers Insurance
(928) 778-0700
6594 East 2nd Street
Prescott Valley, AZ
 
Nache- Michael Alan
(928) 775-5676
6350 E Hwy 69
Prescott Valley, AZ
 
Farmers Insurance Della Lane Agency
(928) 771-1483
11680 East Manzanita Trail
Dewey, AZ
 
Burks- Dennis E
(928) 776-8100
377 N Montezuma St
Prescott, AZ
 
Scott A Smith Ins Agcy Inc - State Farm Insurance Agent
(928) 772-7100
4620 North Robert Road Unit D
Prescott Valley, AZ
 
John Ravnik
(928) 775-6666
2825 North Glassford Hill Road Suite C
Prescott Valley, AZ
 
Chatham- Christy M - State Farm Insurance Agent
(928) 772-6440
3050 North Navajo Drive Ste 107
Prescott Valley, AZ
 
Farmers Insurance & Financial-The Garside Agency
(928) 717-0065
230 North Summit Avenue
Prescott, AZ
 
Behrends- Gene M - State Farm Insurance Agent
(928) 445-2061
147 Grove Avenue
Prescott, AZ
 

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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