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Car Insurance and Your Credit Score Salina KS

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
116 E Iron Ave
Salina, KS
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Robert Pruett Ins Agy Inc - State Farm Insurance Agent
(785) 825-2281
158 North 8th Street
Salina, KS
 
Hoffhines- Marsha - State Farm Insurance Agent
(785) 827-1707
122 North Santa Fe Avenue Ste A
Salina, KS
 
Shelter Insurance
(785) 825-9006
2737 Belmont Boulevard
Salina, KS
 
Allstate Insurance-Deana Strickland
(785) 452-9191
1825 S 9th St
Salina, KS
 
Allstate Auto Insurance
(888) 355-7971
2342 Planet Ave
Salina, KS
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Counts Jr- Frederick M
(785) 827-8600
1101 S Ohio St
Salina, KS
 
Shelter Insurance - Agents- Curry Jean
(785) 823-5129
2737 Belmont Boulevard
Salina, KS
 
Allstate Insurance
(785) 825-5519
2342 Planet Avenue
Salina, KS
 
Fry- Andy - State Farm Insurance Agent
(785) 827-9991
2302 Planet Avenue
Salina, KS
 

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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