Auto Leasing Guide
Go to LeaseGuide.com now !

Car Insurance and Your Credit Score Texarkana AR

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 - Brian Purtle
(866) 607-4854
3301 Richmond Rd
Texarkana, TX
Description
Safe Drivers Save 45% or More. Call Your Local Allstate Agent Today. Quick and Easy!

Allstate Auto Insurance
(888) 355-7971
4115 N Kings Hwy
Texarkana, TX
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Farmers Insurance Group
(870) 772-8454
3605 Jefferson Avenue
Texarkana, AR
 
New York Life Insurance Company
(870) 772-2468
8000 State Line Plaza
Texarkana, AR
 
Cogbill Stacy
(870) 774-3491
3515 Jefferson Avenue
Texarkana, AR
 
Allstate Auto Insurance
(888) 355-7971
4303 Texas Blvd
Texarkana, TX
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
151 W Commerce St
Ashdown, AR
Description
Safe Drivers Save up to 20% on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Martin Richard Insurance
(870) 774-3491
3515 Jefferson Avenue
Texarkana, AR
 
Hill John D
(870) 774-3491
3515 Jefferson Avenue
Texarkana, AR
 
Oubre- Mark W - State Farm Insurance Agent
(870) 772-2388
1305 Arkansas Boulevard Ste 101
Texarkana, AR
 

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 ...

Click here to read the rest of this article from Lease Guide